Ariadne has pulled back on its demand for four board seats on Ardent Leisure after investors told the 10.9 per cent shareholder it was pushing too hard.
The activist company headed by Gary Weiss and Kevin Seymour has dropped its request to have Mr Seymour and Andy Hedges made directors of Ardent and on Friday said it was only seeking to have Dr Weiss and US-based Brad Richmond appointed.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
