Try and try again
Alexander Anton makes another attempt to push through 'disproportionate' incentive scheme.
Anton and major shareholder New Fortress Finance is to make a second attempt to gain control of the board of Victoria Carpets in order to push through an incentive plan which would see the non-executive directors receive a substantial share of returns made to shareholders.
The issue saw Anton, Sir Bryan Nicholson and Geoff Wilding resigned as non-executive directors last week as the board rejected their plan and they were confronted with the alternative of their being removed from the board.
A requisition has been called for a general meeting to remove the current non-executive directors, including chairman Katherine Innes Ker – who was appointed along with the trio, and replace them with Anton, Wilding and Andrew Harrison.
'The incentive scheme proposed by the former directors was not in the best interests of all shareholders and it is right that they resigned from the board. It is therefore surprising that New Fortress should demonstrate support for individuals who promoted the introduction of the scheme and sought disproportionate financial incentives under it,' says Inner Ker.
'It is in the interests of all shareholders that they are provided with full details of the actions taken by the former directors to secure their proposed incentive plan and the potential consequences for shareholders of their re-appointment. The board intends to contest the resolutions vigorously.'