Email Facebook Twitter

Exclusive: Hayden Locke, CEO Emmerson plc, a low cost high margin potash investment
Richard Slape, Oil consultant - Avoiding Losers and Picking Winners, his personal strategy

Alliance News

Lakehouse Outlines New Board Composition As Meeting Adjourned

Wed, 20th Apr 2016 08:00

LONDON (Alliance News) - Housing maintenance contractor Lakehouse PLC on Wednesday said the meeting due to have been held on Tuesday on its board composition has been adjourned indefinitely, and it has agreed to change to the make up of its board.

Lakehouse had been set to hold a meeting for shareholders to vote on proposals tabled by activist investors Slater Investments Ltd and Steve Rawlings. Rawlings is the founder of Lakehouse but left the company in 2012.

The pair had been looking to remove three non-executive directors from the Lakehouse board following a rough first year as a listed company. The pair hold a combined stake of around 22% in Lakehouse.

The pair wanted to remove Chairman Chris Geoghegan and non-executive directors Jill Ainscough and Johnathan Ford and replace them with Rawlings, Ric Piper and Robert Leggett.

On Monday, Lakehouse agreed to Geoghegan's departure and for all three of the nominees to join the board.

Piper has been proposed as the new chairman of the company and on Wednesday Lakehouse said he will now chair is audit committee. Rawlings and Leggett will sit on Lakehouse's audit, remuneration and nomination committees.

Ainscough and Ford survived the attempted ousting and have kept their roles on the board.

By Sam Unsted;; @SamUAtAlliance

Copyright 2016 Alliance News Limited. All Rights Reserved.

Alliance News

Back to Alliance News

Share Price, Share Chat, Stock Market news at
FREE Member Services
- Setup a personalised Watchlist and Virtual Portfolio.
- Gain access to LIVE real-time Regulatory News (RNS).
- View more Trades, Directors' Deals, and Broker Ratings.
Share Price, Share Chat, Stock Market news at

Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.