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Requisition withdrawn & shareholders to vote at the AGM


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Further to the announcement on 10 September 2013, the Company confirms that the Board's discussions have been continuing with representatives of the group who requisitioned (together the "Requisitioners") a general meeting to consider the proposed resolutions ("Requisition") detailed in the announcement on 2 August 2013 ("General Meeting").

 

The Company can confirm that the Requisitioners have withdrawn the Requisition which put forward resolutions for the removal of Craig Mather, Brian Stockbridge and Bryan Smart as Directors of the Company and for the appointment Frank Blin and Paul Murray as Non-Executive Directors of the Company on the condition that the Company convenes its Annual General Meeting to be held no later than 31 October 2013.

 

The Company confirms that all of the current Directors remain in office and that it is not appointing any additional Directors save that as previously announced, the Company confirms that it continues to actively seek to appoint a new Chairman.

 

Further announcements will be made as appropriate.

 

http://www.londonstockexchange.com/e...entId=11707849

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I think I would prefer to wait to hear what the requisitioners have to say before drawing any conclusions.

 

Indeed because this doesn't signal a withdrawal of the aims, only a withdrawal of the EGM requisition. It will now be down to shareholders to vote on the board positions at the AGM next month.

 

I'm no expert, but this could be a smart move by McColl & co because it puts an end to the question of what's happening and sets a defined target of the AGM.

 

It also shows that McColl & co weren't willing to compromise or be messed about any more by the current board and their stall tactics.

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they haven't exactly said very much up until now have they? what are their plans for the club ? do they have funding ? if so who ?

 

This isn't about a full club takeover at the moment, it's only about removing the current board of directors.

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