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Sartart's chief financial officer resigned a few hours before the controversial annual general meeting of the infrastructure company.
The surprise announcement from the London Southend airport operator indicated that Richard Laybad would not show up at Friday's AGM but "would continue to support the group's activities Stobart. "
The statement was issued shortly before the company's long-awaited AGM at St. Peter Port, Guernsey, which begins at 11 am
The Cabinet was locked in a battle with his former director, Andrew Tinkler, who pushed for the dismissal of Stobart's president, Iain Ferguson.
million. Tinkler was fired last month and was struck by a lawsuit for "breach of contract and breach of fiduciary duty."
He came after Mr. Tinkler, former director Allan Jenkinson, and a Fund-controlled star investor Neil Woodfood began to maneuver to install retail boss Philip Day as president of the company, in place of Mr. Ferguson.
Warwick Brady, said that the actions of Mr. Tinkler had threatened to "destabilize the company" and "seriously affect" the ability of the company to manage the business day-to-day and to put implement his strategy
. Instead of listening to the concerns expressed by myself and a number of other important shareholders, Mr. Ferguson and his supporters on the board of directors have chosen to engage in a campaign. of defamation, several times. trying to blacken my name.
A letter attributed to Andrew Tinkler
A letter to shareholders on a Twitter account attributed to Mr. Tinkler last week stated that # 3 9, he did not believe that Mr. Ferguson was the "robust and independent president" necessary for the company "to remain faithful to his"
"Instead of listening to the concerns expressed by myself and a number of other significant shareholders, Mr. Ferguson and his supporters on the board have chosen to engage in a smear campaign on several occasions. I'm trying to blacken my name while claiming the growth and strategy that William Stobart and I have helped develop alongside the company's leadership team, "writes the letter. [19659004] Mr. Tinkler, who had previously defended re-elected as director of the company at the company's AGM before his dismissal, had attempted to bring a lawsuit against the company. company to allow shareholders to vote on his reinstatement as a director on Friday.
But his efforts were dismissed by a Guernsey court before the meeting
As part of his market update before AGA, Stobart stated that its energy division had performed well, registering a 54% increase in tonnage over the past year with the launch of new contracts.
The Infrastructure Division has generated 25.5 million books sterling following the successful sale and lease of land and property on its Widnes site
. Sales are part of a broader strategy to increase its dividend.
Stobart confirmed that a dividend of 4.5 pence per share would be distributed to shareholders on Friday, taking its total dividend for the year to 18p per share.
Press Association
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