Business
Extraordinary General Meeting Update
DCI Advisors is holding its Extraordinary General Meeting (EGM) on October 10, 2025, following multiple postponements since its initial convening on December 20, 2024, in response to a requisition from Almitas proposing Martin Adams as a director. The Independent Directors recommend shareholders vote against Mr. Adams' appointment, deeming him unsuitable and raising concerns about his independence and past conduct. They also believe Almitas, a 20% shareholder, should not have two nominees on the board, citing potential conflicts of interest and disproportionate influence. The Independent Directors will disregard all proxy votes received to date and shareholders who wish to vote at the EGM should complete and submit a new proxy card. Disclaimer*
About this update from Dci Advisors Limited
[{"type":"text","content":"\n\n26 September 2025\nDCI Advisors Limited\nExtraordinary General Meeting Update\nOn 20 December 2024, DCI convened the EGM following receipt of the Requisition from Almitas proposing the appointment of Martin Adams as a director of DCI. The EGM was convened for 28 February 2025 and was subsequently postponed several times and is now being held on 10 October 2025. Following receipt of the Requisition, DCI appointed the Independent Directors to consider DCI's response to the Requisition and provide their recommendation to DCI's shareholders on how they should vote. The Independent Directors comprise Messrs. Sean Hurst (DCI's Chairman), Nicholas Paris and Nicolai Huls (DCI's Joint Managing Directors). Mr Gerasimos Efthimiatos is not an independent director of DCI as he was appointed at the request of Almitas and is therefore not considered to be independent of Almitas.\nØ The Independent Directors recommend that shareholders vote against the appointment of Mr Adams as a director of DCI\n \nØ Mr Adams is an unsuitable candidate to join the DCI Board\n \nØ Almitas as a 20% shareholder should not have 2 nominees on the DCI Board\n \n1. The Independent Directors do not consider Mr. Adams to be independent due to his recent associations with a business that was until recently engaged in a significant dispute involving DCI. As DCI is actively working (with shareholder support) to move away from associations with individuals linked to DCI's previous management arrangements, appointing Mr Adams to the Board would run counter to this strategic direction and undermine efforts to ensure DCI has a true independent future.\n \n2. The Independent Directors remain seriously concerned that Mr Adams declined to support the change in DCI's management arrangements in 2023\n \n3. The Independent Directors also strongly believe that Mr Adams provided inaccurate and misleading statements, which significantly undermines his credibility and raises concerns regarding his suitability to serve as a director of DCI.\n \n4. During the Independent Investigation it became apparent that Mr Adams had an incomplete or inconsistent recollection of events, raising concerns as to whether he currently possesses the capacity required to effectively discharge his...