Heron has warned that it will vote against two resolutions at Crest Nicholson’s annual general meeting today. The 23.4% stake that Gerald Ronson’s Heron have in Crest is big enough to block the resolutions which require the backing of 75% of shareholders voting. Crest’s proposals would allow it to buy back up to 5% of its shares and give it the power to grant new shares. Heron said it would vote against the proposals because they could be used to change Crest’s shareholder structure. Crest repeated yesterday that Heron’s takeover proposals significantly undervalued the group. (Independent, Times, FT)