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Old 15th Feb 2019, 21:58
  #1644 (permalink)  
allan1987
 
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Originally Posted by Weathergirly
STATEMENT FROM ANDREW TINKLER FOLLOWING HIGH COURT JUDGEMENT, FRIDAY 15 FEBRUARY

High Court Rules Stobart Directors Rigged AGM Vote

Stobart’s claims on ‘conspiracy’ and expenses rejected

Andrew Tinkler calls for Warwick Brady and fellow directors to resign

Following a two-week trial in November 2018, the Judge (HHJ Russen) has found that Iain Ferguson, Warwick Brady, Andrew Wood and John Coombs have breached their fiduciary duties to Stobart Group by using company funds to gerrymander a vote at the July 2018 AGM in their favour. The Judge ruled that all four directors had acted for “improper purposes” by trying to manipulate the vote.

Mr Tinkler said: “In light of the Judge’s findings, Mr Brady, Mr Ferguson, Mr Coombs and Mr Wood have no place on the Board of Stobart Group and they should all step down without further delay.”


Full Story is

Logistics firm Stobart Group on Friday welcomed a high court judgement which it claimed left it victorious in a fight with rebel shareholder Andrew Tinkler.

https://www.standard.co.uk/business/...-a4068141.html


However, the judge rejected Mr Tinkler's argument the other directors "acted for the improper purpose of retaining their control of the company".He found they breached their duties by transferring 5.3m shares ahead of an Annual General Meeting, which it was claimed could have swayed the vote re-electing Mr Ferguson as chairman.However, the judge said they acted "with the company's best interests in mind" in doing so.

https://www.bbc.co.uk/news/uk-england-cumbria-47253158

Last edited by allan1987; 15th Feb 2019 at 22:00. Reason: space
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