6th Oct 2021 06:50
Prospex Energy PLC - holds investment portfolio of gas production and electricity generation assets - Shareholders vote on Tuesday to reject resolutions proposed by Jarvis Investment Management Ltd, as recommended by the board. The move follows Jarvis's requisitions for general meeting to shake up board through removal of existing directors and appointment of new ones.
In addition, shareholders have voted in favour of resolutions 11 and 12 proposed by the board of directors. As a result, Mark Routh and Alasdair Buchanan have been confirmed as directors. Shareholders also voted to approve the share authority resolution proposed by the board but did not vote by the requisite majority to dis-apply pre-emption rights to the issuance of shares.
"We intend to engage with those large shareholders seeking changes in early course with a view to delivering value for all shareholders and to create a more harmonious environment in which the company can move forward," says Chief Executive Mark Routh.
Current stock price: 3.22 pence, down 9.3% on Tuesday
Year-to-date change: up 46%
By Evelina Grecenko; [email protected]
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