Banknote printer De La Rue investor calls for ouster of chairman (updated)
31/03/2023 07:36
(Adds details on the requisition notice, details on December's
general meeting, adds shareholder's comments)
March 31 (Reuters) -
Struggling British banknote printer De La Rue Plc's DLAR.L
shareholder Crystal Amber Fund Ltd on Friday called for a
general meeting in an effort to oust current chairman Kevin
Loosemore, with immediate effect.
Crystal Amber has proposed a resolution to appoint Pepyn
Dinandt, chief executive of the climate control and automotive
controls systems divisions at Eberspaecher Group, as chairman,
according to a statement.
At a general meeting called in December, 94.9% of the votes
cast, excluding the votes cast by Crystal Amber, were in favour
of Loosemore to continue as a director of the company and
chairman of the board.
Crystal Amber currently holds about 9.8% stake in the
banknote printing company, making it the third-largest
shareholder.
De La Rue said its board is considering the contents and
legality of the requisition notice.
(Reporting by Radhika Anilkumar in Bengaluru; Editing by Sonia
Cheema)
((Radhika.Anilkumar@thomsonreuters.com;))