Mount Kellett Capital Management disclosed on December 16th that it has requisitioned a meeting of the shareholders of Baja Mining Corp (BAJ.TO). Mount Kellett intends to add or replace two seats of new directors into the company’s board. Moreover, Mount Kellett will seek to address serious concerns about the independence and corporate governance practices of the current board. This is after Mount Kellett disclosed its intention on December 5th to select Stephen Lehner to Baja’s board. Mount Kellett Capital Management now has 67.42 million shares in Baja, giving a 19.9% activist stake ownership.
According to the firm’s regulatory filing, Mount Kellett is a multi-strategy private investment firm focused on global value, special situations and opportunistic investing. The firm has approximately 100 employees with offices in New York, Hong Kong, London, and Mumbai. The firm currently has in excess of $6 billion in assets under management. (See the related news on December 5th)