Timmins Gold sets up committee to respond to shareholder demands

Fri Jun 6, 2014 6:21am EDT
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June 6 (Reuters) - Timmins Gold Corp said it had set up a special committee of independent directors to oversee the company's response to a proxy fight launched by a major shareholder to overhaul the gold miner's board.

Asset manager Sentry Investments, which owns about 17 percent of Timmins, said on Monday the company's assets had been mismanaged and the board was not sufficiently independent.

The Canadian investor plans to nominate six candidates for the company's eight-member board. (Reporting By Sneha Banerjee in Bangalore; Editing by Saumyadeb Chakrabarty)