UPDATE 1-West Face to wage proxy battle against Gran Tierra Energy

April 21, 2015 9:31 PM

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TORONTO, April 21 (Reuters) - Canadian activist firm West Face Capital Inc on Tuesday launched a proxy battle against Gran Tierra Energy and outlined plans to put up a slate of six nominees for the energy firm's board, saying that its current four-member board has failed investors.

West Face, whose managed funds control roughly 9.8 percent of Gran Tierra's shares, said the current board has overseen a failed high-risk, high-cost exploration strategy in Peru, Argentina and Brazil that has led to the destruction of more than half the company's market value since the start of 201...

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