By Ian Walker
Ironveld PLC said Thursday that shareholder Richard Jennings, director of Align Research Ltd., has withdrawn his request to call a general meeting of shareholders to remove chairman Giles Clarke and Chief Executive Martin Eales.
The exploration-and-development company had received the initial request to call the meeting in June and a meeting was set for Aug. 12.
Ironveld said that the given that the meeting has already been set it can’t be withdrawn or canceled and will therefore go ahead as planned. However, the board continues to recommend that shareholders vote against the resolutions, especially as Mr. Jennings has now withdrawn his request.
No explanation for the request to withdraw the meeting has been disclosed.
Richard Jennings, Align Research Ltd. and Mrs. Jennings own 9.03% of the company’s issued share capital.
Shares at 0800 GMT were up 0.02 pence, or 5%, at 0.32 pence.
Write to Ian Walker at [email protected]
Credit: www.marketwatch.com /