ThomasLloyd Energy Impact board faces removal vote at second general meeting
The board noted its disappointment at convening a second general meeting requisitioned by investment manager ThomasLloyd Global Asset Management, given investors voted against the continuation resolution on 24 August.
In a stock market announcement, the board confirmed the second requisitioned general meeting will be held on 25 September, with the resolutions comprising the removal and replacement of all four directors.
The board noted its disappointment at convening a second general meeting requisitioned by investment manager ThomasLloyd Global Asset Management, given investors voted against the continuation resolution on 24 August.
Following this result, the board wrote to the manager to request it withdraw its second requisition, which it refused.
Investors vote against ThomasLloyd Energy Impact continuation
It argued the result of the first requisitioned general meeting demonstrated support and a «clear mandate» for the board to make changes to the trust, including the publication of the delayed reports, lifting of the share suspension and re-evaluation of the RUMS project.
The board recommends investors vote against the proposal, arguing the replacement of the current directors with ones «unfamiliar» with the trust would be «highly disruptive» to the trust.
Chair Sue Inglis said: «The current board is fully committed and determined to oversee the ongoing processes required to deliver the best possible future for the company.
»At the forefront of the board's mind is the desire for a successful relaunch of the company with an Asian focus and impact strategy. The board believes that it is very much in the interests of the company for shareholders to act now in a unified manner thereby reinforcing the clear mandate
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