30th May 2018 10:29
LONDON (Alliance News) - Shares in Stobart Group Ltd slipped on Wednesday as Cenkos Securities PLC resigned as its joint broker following Stobart's recent revelation of a boardroom rift.
Stobart shares were down 5.3% Wednesday at 225.43 pence each.
On Friday last week, Stobart said Andrew Tinkler, its former chief executive and a current executive director, has informed the company he will vote against the re-election of Chairman Iain Ferguson at its annual general meeting, the date of which was unspecified.
All other directors offered support to Ferguson, with non-executive directors Andrew Wood and John Coombs saying they would quit if Ferguson is not re-elected.
Tinkler, Stobart said, holds 7.7% of the company's voting rights, while shareholders holding a further 26% also said they also won't vote for Ferguson's re-election.
Related Shares:
CNKS.LSTOB.L