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Mumbai, Oct. 1 The board of directors of US-based Orient Express Hotels Ltd has urged its shareholders to vote against all the resolutions that will be moved at the special general meeting on October 10.

According to analysts, in case the resolutions go through it will increase the voting powers of Indian Hotels Company, owned by the Tata Group. Indian Hotels currently holds a 11.5 per cent stake in Orient through ownership of Class A shares.

The meeting has been called by the company to address a requisition served by D.E. Shaw and SAC Capital that the company amend its bylaws to treat its Class B common shares as “treasury shares” under Bermuda law which would have the consequence (amongst others) that the Class B common shares held by Orient-Express Holdings Ltd. would lose their ‘super voting’ rights. The requisition is also to cancel all Class B common shares.

A news release issued by the company on Monday said, “The board of directors urges that all shareholders discard the requisitioning shareholders”.

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