2nd Jun 2014 17:29
LONDON (Alliance News) - Netherlands real-estate development company Kimberly Enterprises N.V said Monday that major shareholder Engel General Developers Ltd has written to shareholders convening an extraordinary general meeting, seeking to oust Chief Executive Gad Raveh and Executive Director Moshe Naveh.
Israel-based Engel General holds a 68.35% interest in the company. Engel General Developers is part of Engel Group, founded by Israeli businessman Jacob Engel.
It is proposing to replace them with Dov Luxenburg, Chief Executive of Engel Resources and Development Ltd and Oded Shamir, Chairman of Engel Resources and Development.
The extraordinary general meeting is proposed for June 17.
Shares in Kimberly closed down 63.9% at 0.312 pence.
By Hana Stewart-Smith; [email protected]; @hanassallnews
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