RE: Interesting5 May 2019 09:11
The chairman of oil and gas explorer Amerisur Resources faces an investor rebellion amid a prolonged slide in the share price.
Shareholders with almost 14% of Amerisur — including the largest, Michinoko — are set to vote against re-electing Giles Clarke at the annual meeting this month. They are also due to vote against directors’ pay.
Shares have fallen by almost 80% over the past five years, from 60p in May 2014 to 12.75p on Friday.
Clarke, 65, a former chairman of the England and Wales Cricket Board who built Majestic Wine into a chain during the 1980s, is paid $303,000 (£230,000).
He joined as chairman in 2007, alongside chief executive John Wardle and finance director Nick Harrison, both still in place.