By Elena Vardon
Shares in Global Petroleum fell after the company said it received a proposal from a shareholder to remove its chief executive, its chairman and a nonexecutive director.
At 1433 GMT, shares were down 0.01 pence, or 19%, at 0.05 pence.
The AIM-listed energy group said on Monday that Omar Ahmad–who holds a 5.04% stake–proposes to replace the three roles with three new directors to take the company forward.
It added that it is having positive collaborative engagement with Ahmad’s representatives and will make a further announcement in due course.
According to its website, John van der Welle is the group’s nonexecutive chairman and Peter Hill is its chief executive an managing director. Andrew Draffin and Garrick Higgins are both independent nonexecutive directors.
Write to Elena Vardon at [email protected]
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