6th Aug 2019 11:08
(Alliance News) - Housing and health property partner Ashley House PLC said Tuesday that one of its founding directors and shareholders, Stephen Minion, has stepped down from the board, effective immediately.
Minion is chair and major shareholder in Invescare Ltd, a company that has an outstanding loan to Ashley House.
Minion is also chair and shareholder of Wildlife Group, a company which is a potential customer of the F1 Modular business - Ashley's construction business - and he is chair and shareholder in Partnering Health, a company in which Ashley House has a 33.3% stake.
The company advised him that conflicts of interests may arise due to the company considering funding solutions, and that these conflicts are best avoided by his resignation from the Ashley House board.
Minion continues to be a shareholder in Ashley House, with a 6.7% stake, according to Morningstar. He will continue to work with the company as a shareholder and through its relationship with Invescare, Wildlife Group and Partnering Health, Ashley House said.
"Steve has been a major part of Ashley House's history through founding it, then acting as managing director and most recently as a non-executive director. We look forward to continuing to work with Steve, albeit in a changed capacity and sincerely thank him for everything he has done for the business," said Chair Chris Lyons.
Shares in Ashley House were trading 4.0% lower at 5.40 pence each on Tuesday in London.
Related Shares:
ASH.L