Following the acquisition of a 6.9% shareholding in Media Square reported here this morning, Bob Morton's Jersey-based company Hawk Investment Holdings has requisitioned a meeting of Media Square shareholders with the aim of ousting the company’s executive chairman Roger Parry and installing three new directors (see Name from the past builds near 7% stake in Media Square).
Morton has a previous connection with various Media Square's subsidiaries that were formerly owned by Incepta Group when he was chairman there.
Hawk is seeking to put a resolution to shareholders for the appointment of Morton, David Wright (another former Incepta director) and accountant Keith Springall to the board.
Media Square's current board said today that it will "duly consider its position" regarding the requisition of a meeting and write to shareholders "at the appropriate time".
Earlier this year an attempt was made by the Irish financier Peter Lynch to obtain a place on the Media Square board. It remains to be seen whether his company Prime Active Capital and other large shareholders will support Morton's boardroom assault.
© Fintellect Ltd
Attempts by a group of agitating investors to requisition a shareholders’ meeting seem to have created
After a period of radical restructuring all Media Square has to show for it so far is a continuing decline
BOB WILLOTT
Blogging for:
Member since: 03 Jun 2008
Last login: 26 Nov 2009
Total Posts: 12
