A showdown between the board of listed firm Electra Private Equity and Edward Bramson's Sherborne Investors has been set for October 6, according to a circular published by the private equity firm, as the group's board stepped up efforts to fend off the activist investor.

Roger Yates, the chairman of Electra Private Equity, has written to shareholders outlining his recommendation to vote unanimously against proposals put forward by Sherborne, according to the statement.