Insetco's (INC) two directors are to go head-to-head in the ring next month as shareholders requested for a vote be made to oust one of the members from the board following a dispute about the future direction of the company. It is clear from the news that investors believe the disagreements between chief executive Clive Cooke and head of structuring Sanjeev Joshi are damaging the life settlement investment company's performance and limiting the potential of the fund. Shareholders will meet on the 24th May to make a decision. Insetco shares plummeted 0.75p to 1.875p.
Statement regarding share price movement & Potential Board changes
Insetco notes the recent movement in the Company's share price and confirms that the Company is currently in the process of considering changes to the composition of the Board of directors to resolve a dispute over the management and strategy for the Company between the Mr Clive Cooke, Chief Executive and Mr Sanjeev Joshi, Executive Director.
A shareholder circular and notice of general meeting will be sent to shareholders shortly, at which, shareholders will be asked to consider certain resolutions in respect of the Board's composition
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