LONDON (Alliance News) - Housing maintenance contractor Lakehouse PLC on Wednesday said its founder has requisitioned a general meeting to remove three non-executive directors and appoint himself to the board.
Lakehouse said the requisition, from Slater Investments Ltd and Steve Rawlings, the founder of Lakehouse, who hold more than a 5.0% stake collectively in the business, will seek to remove the three current non-executives on the board.
They are Senior Independent Non-Executive Director Chris Geoghegan, Non-Executive Director Jill Ainscough and Non-Executive Director Johnathan Ford.
The requisition proposes the three are replaced by Rawlings, Ric Piper and Robert Leggett.
The move comes a day after Lakehouse appointed Geoghegan non-executive chairman, taking over from Stuart Black, who will move from executive chairman to chief executive. Coming a month after the group issued a profit warning, Lakehouse said current Chief Executive Sean Birrane will step down from his position and resign from the board following an interim period,
Shares in Lakehouse were up 8.0% to 44.01 pence on the news, the best performer in the FTSE All-Share.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.