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Block Energy PLC - oil and gas development and production company focused on Georgia - Notes that the report by Institutional Shareholder Services Inc recommends that shareholders vote against the resolution proposed by Forest Nominees Ltd on behalf of GP Jersey at the general meeting on September 1.
GP Jersey requisitioned the meeting in early July, demanding the replacement of Chair Philip Dimmock by Chuck Valceschini.
"The dissident has not offered any compelling rationale to commence an investigation", the report said.
Current stock price: 2.47 pence
Year-to-date change: down 24%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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