Business
Publication of Circular and Notice of EGM
Publication of Circular and Notice of EGM.
About this update from B90 Holdings Plc
[{"type":"text","content":"\n \n \n For immediate release: 17 October 2022\n \n \n B90 Holdings plc\n \n \n (\"B90\", the \"Company\" or \"Group\")\n \n \n Publication of Circular and Notice of EGM\n \n \n B90 Holdings plc (AIM: B90), announces that it has today published a circular to shareholders (the \"Circular\"), and a Notice of Extraordinary General Meeting of the Company (\"Notice\"), in response to shareholder requisitions which were notified to the market on 20 September 2022 and 27 September 2022. \n \n \n The Extraordinary General Meeting will be held at 10.00 a.m. on 7 November 2022 at BDB Pitmans LLP,\n One Bartholomew Close, London EC1A 7BL\n .\n \n \n The Circular and Notice will be posted to shareholders today.\n \n \n In the two requisitions, the Requisitioning Shareholders have proposed four resolutions in total:\n \n \n 1. The removal of Karim Peer as Executive Chairman and as a director of the Company;\n \n \n 2. The appointment of Mr Ronny Ingvar Breivik as a director of the Company;\n \n \n 3. The appointment of Mr Martin Fleisje as a director of the Company; and\n \n \n 4. The removal of Mr Nigel Eastwood as a director of the Company.\n \n \n The Board recommends that shareholders vote against all four proposed resolutions for, inter alia, the following reasons:\n \n \n ·\n The Board believes that Ronny Ingvar Breivik (\"Mr Breivik\") is unsuitable to be a director of the Company. He has no UK public market board experience, and since being engaged by B90 Ventures Ltd, he has materially underperformed operational expectations, ultimately resulting in his demotion.\n \n \n ·\n The Board does not believe that Mr Breivik is committed to the Company, having recently served conditional notice terminating his engagement with B90 Ventures Ltd. The Board understands he is taking a full time role with another company, SoftSwiss. We question why Shareholders should support the removal of the current full time and committed Executive Chairman and appointment of someone who has served notice terminating his role with the Company and is seemingly taking another role elsewhere. The Board further questions Mr Breivik's belief in the proposals put forward by the Requisitioning Shareholders, given his proposed exit.\n \n \n ·\n The Company does not believe that Martin Fleisje (\"Mr Fleisje\") will bring any value to the...