Last checked at 14 Jun 2012 17:40
14 June 2012
PLUS Markets Group plc
("PLUS" or the "Company")
Notice to remove Nominated Representative
The Company announces that it has received a notice from Amara Dhari Investments Limited ("ADIL") requesting to remove, Ahmed Ibrahim Al Asfour, a non-executive director of the Company and the nominated representative of ADIL from the board of the Company in accordance with the Company's shareholder agreement with ADIL dated 4 September 2009 (the "Shareholder Agreement").
ADIL have also requested the appointment of a replacement non-executive director nominated by ADIL pursuant to the terms of the Shareholder Agreement.
Ahmed Ibrahim Al Asfour, whose family hold over 50% of the share capital of AD, has informed the board of PLUS that he disputes the validity of the request by ADIL to remove him from the board of the Company.
As such, the Company is taking appropriate legal advice and a further announcement will be made in due course.
For further information, please contact:
PLUS Markets Group plc Cyril Théret | +44 20 7429 7800 |
N+1 Brewin (Nominated Adviser and Broker) Robert Beenstock / Aubrey Powell / Alex Wright | +44 20 3201 3710 |
Wyvern Partners Limited Anthony Gahan | +44 20 7355 9857 |