Requisitioners go to Court of Session - Adjourned until 14th

[plgsarmy 111]

Perhaps the board didn't have all their's in order?

 

I'm sure Richard Keane will be all over it.

[Zappa 0]

Tomorrow morning the 4 proposed by the requisitioners will be in the Court of Session to ask the court to overturn the incumbents decision to not place their names on the voting forms.

 

Excellent news forlan!

 

Best of luck to the guys in Court tomorrow morning!

[chilledbear 16]

Announcement to the Stock Exchange regarding the proposal to nominate new directors at the AGM

 

http://t.co/oKkqV3TPjQ

 

The Board further notes that on 4 October 2013 the Company received notice of a petition filed in the Scottish Courts (the "Petition") by Paul Murray, Malcolm Murray, Ian Cormack, John Graham and Colin Howell representing 0.71 per cent of the voting rights of the Company (the "Individual Shareholders"). The Petition requests an order to be granted by the court, inter alia, to require the Company to circulate the Notices to shareholders and not to hold the Annual General Meeting of the Company for 2013 until such time as the Individual Shareholders have received 21 clear days notice of any such Annual General Meeting and the Notices have been circulated.

 

The Board offered to meet with the Notifying Shareholders to discuss their concerns but had not received a response. The Board then received notice of the Petition. Whilst the Company intends to strongly resist the Petition the Board intends to take all possible steps to avoid unnecessary cost and disruption to the Company.

[Calgacus 8]

The last sentance is an inherant contradiction - the best way to avoid unneccessary expense would be to agree to the petition and/or allowi the nominations to go forward to the AGM. It would save a fortune in legal costs.

[blueflag 378]

Announcement to the Stock Exchange regarding the proposal to nominate new directors at the AGM

 

http://t.co/oKkqV3TPjQ

 

The Board further notes that on 4 October 2013 the Company received notice of a petition filed in the Scottish Courts (the "Petition") by Paul Murray, Malcolm Murray, Ian Cormack, John Graham and Colin Howell representing 0.71 per cent of the voting rights of the Company (the "Individual Shareholders"). The Petition requests an order to be granted by the court, inter alia, to require the Company to circulate the Notices to shareholders and not to hold the Annual General Meeting of the Company for 2013 until such time as the Individual Shareholders have received 21 clear days notice of any such Annual General Meeting and the Notices have been circulated.

 

The Board offered to meet with the Notifying Shareholders to discuss their concerns but had not received a response. The Board then received notice of the Petition. Whilst the Company intends to strongly resist the Petition the Board intends to take all possible steps to avoid unnecessary cost and disruption to the Company.

 

 

Never the bad guys eh?

Hope they get pumped in court

[der Berliner 3,247]

IMHO, all parties concerned royally messed this thing up. A feast for the media hacks.

[calscot 0]

The last sentance is an inherant contradiction - the best way to avoid unneccessary expense would be to agree to the petition and/or allowi the nominations to go forward to the AGM. It would save a fortune in legal costs.

 

It seems more than that, if they don't accept it then is it not inevitable that the requisitioners will call for an EGM as soon as possible thus incurring the 80k cost the board so proudly said they had avoided?

 

They really are a bunch of clowns...

[der Berliner 3,247]

Alas, the club can pay that now, since they are saving 400k from Ally!

[Calgacus 8]

It seems more than that, if they don't accept it then is it not inevitable that the requisitioners will call for an EGM as soon as possible thus incurring the 80k cost the board so proudly said they had avoided?

 

They really are a bunch of clowns...

 

Especially whe it seems they were paying lawyers and PR people good money to avoid the cost of an EGM

[chilledbear 16]

Nobody in this mess is covering themselves in glory

 

I have a feeling the present Board are too street wise for the requisitioners.