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
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.