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Ousted chairman calls meeting in bid to remove directors at Darwen firm
11:30am Wednesday 16th October 2013 in Darwen
AN ousted chairman has launched another bid to remove two company directors at a Darwen firm.
Despite being defeated in his previous efforts, Peter Kennedy has called a meeting of Bglobal shareholders with the purpose of removing Tim Jackson-Smith and James Newman.
A boardroom row at the smartmeter manufacturer, which employs 150 people, earlier this year saw him removed as chairman of the firm.
At that time, Mr Kennedy submitted a counter-proposal to remove the two directors but it was defeated.
In a company statement, Bglobal said: “The notice contains no justification or reasons why the ousted chairman believes it is in the best interests of the company and its shareholders to remove Tim Jackson-Smith and James Newman as directors of the company.
“The board is required to convene a general meeting to consider the proposed resolutions by October 31, so accordingly the board proposes to do so shortly.
“Unfortunately, even if shareholders representing more than 50 per cent of the company’s issued share capital are known to be supportive of Tim Jackson-Smith and James Newman, the board must still comply with its legal obligation to hold the meeting and is unable to claim the costs associated with the organisation and holding of the general meeting.”
Mr Kennedy was removed from his position after shareholders became unhappy with the company’s performance on the stock market.
John Grant was installed as chairman and a review of the company has since been undertaken.
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