Business
Replacement: AGM Requisition Notices
Replacement: AGM Requisition Notices.
About this update from Topps Tiles Plc
[{"type":"text","content":"\n \n \n \n Adds wording on inside information to the top of the page. All other information remains unchanged.\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \n \n \n \n \n \n \n \n \n For immediate release\n \n \n \n \n \n \n \n \n \n 7 December 2022\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Topps Tiles Plc\n \n \n \n \n Receipt of Requisition Notices\n \n \n \n \n \n \n Topps Tiles Plc (LSE: TPT) (\"Topps\", the \"Company\" and together with its subsidiary undertakings, the \"Group\"), the UK's leading tile specialist, announces that on 6 December 2022\n it received requisition notices (the \"Requisition Notices\") pursuant to section 338 of the Companies Act 2006 (the \"Act\") requiring that the board of directors of the Company (the \"Board\" or the \"Directors\") include resolutions (the \"Requisitioned Resolutions\") in the notice of the Company's annual general meeting proposed to be held on 18 January 2023 (the \"AGM\") as follows:\n \n \n ·\n that Darren Shapland be removed from office as a director of the Company, and from the position of Non-Executive Chairman of the Company, with immediate effect;\n \n \n ·\n that Lidia Wolfinger, having consented to act, be appointed as a non-executive director of the Company with immediate effect; and\n \n \n ·\n that Michael Bartusiak, having consented to act, be appointed as a non-executive director of the Company with immediate effect.\n \n \n The Requisition Notices have been served by Lynchwood Nominees Limited on behalf of MS Galleon GmbH (\"MSG\") which currently holds approximately 29.9 per cent. of the Company's voting share capital.\n \n \n The Requisition Notices include a request that the Company circulate an explanatory statement in respect of each of the Requisitioned Resolutions in accordance with section 314 of the Act.\n \n \n \n The Board does not consider the Requisitioned Resolutions to be in the best interests of the Company and its shareholders as a whole and, therefore, intends to recommend that shareholders vote AGAINST the Requisitioned Resolutions at the AGM.\n \n \n \n \n \n \n \n \n \n Background to the Requisition Notices\n \n \n \n MSG owns Cersanit, a major European producer of tiles, in addition to having a range of home improvement and tile retailing inte...