(Alliance News) - Allied Minds PLC on Tuesday said it now expects to publish its annual results on June 15. As a result, current Chair Harry Rein will remain in his role until then to sign off the report and accounts.
Rein will then step down the day after publication of the results, after two years in the role since 2020.
Back in February, 18% shareholder Crystal Amber Fund Ltd had requisitioned a general meeting to remove Rein.
The fund alleged mismanagement of core portfolio holding Federated Wireless Inc and criticized the appointment of Bruce Failing as non-executive director, saying he wasn't independent of Rein.
However, Crystal Amber withdrew its resolutions at the end of March, when Allied Minds announced Rein's departure.
Shares in Allied Minds were down 2.1% at 16.65 pence on Tuesday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Crystal Amber (CRS)