Better Home & Finance Holding Co. shares jump on founder's control, turnaround plan
Vishal Garg and the Garg Group have secured written consents representing over 51% of Better Home & Finance Corporation's voting shares, paving the way for a turnaround plan that includes removing the current board and appointing new members. The group also plans a strategic sale of the UK banking operations and a $30 million stock buyback, aiming for $60 million in annual cost savings.
Sept 30 (Reuters) — Better Home & Finance Holding Co: Vishal Garg And Garg Group: Secured Written Consents Representing Over 51% Of Voting Shares Of Better Home & Finance Corporation Vishal Garg And Garg Group: Prepares To Launch Detailed 90-day Turnaround Plan Which Includes Removal Of Current Board Vishal Garg And The Garg Group: To Remove Daniel Lewis, Harit Talwar, Bhaskar Menon, Arnaud Massenet And Prabhu Narsimhan From Board Vishal Garg And The Garg Group: To Appoint Silicon Valley Venture Capitalists Bing Gordon And Steve Sarracino To The Better Home & Finance Corporation Board Vishal Garg And Garg Group: To Complete Strategic Sale Of Uk Banking Operations Of Better, Implement A $30 Million Stock Buyback Plan Under Plan Vishal Garg And The Garg Group: Raises Better Home & Finance Corporation Annual Cost-savings Target To $60m Through Operational Streamlining Source text:...
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