24th Aug 2021 19:29
Prospex Energy PLC - investor in onshore and shallow offshore European gas and power projects - Shareholder Jarvis Investment Management Ltd requisitions general meeting to shake up board.
Prospex wants to add Leo Koot, Gordon Stein, Stephen Bocciolo and Michael Douglas to the firm's board. Meanwhile, it wants to remove William Smith, Richard Mays, Mark Routh and Alasdair Buchanan from board.
Will send circular by no later than September 9 to convene meeting.
This follows, on August 13, receiving letter from group of shareholders requisitioning a general meeting to remove existing and proposed directors and appoint new ones.
At the time, Prospex says the documentation didn't form a valid request. Therefore, it didn't call the meeting.
However, the board has spoken to the shareholders and invited them to submit a valid request. Shareholders last month rejected the re-appointment of James Smith as a director, and the board currently has only three members, but Alasdair Buchanan has been proposed.
Current stock price: 2.90 pence, up 2.8% on Tuesday
Year-to-date change: up 32%
By Paul McGowan; [email protected]
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