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Mon September 24 2018

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Van Elle shareholders shut down Ellis’ bid to return

18 Dec 17 Michael Ellis has comprehensively failed in his bid to get back on to the board of Van Elle, the piling company he founded and then listed on the Stock Exchange.

Michael Ellis
Michael Ellis

Van Elle shareholders met on 15th December to vote on resolutions put forward by Michael Ellis, who together with his family still owns approximately 20% of the stock.

However he found little support for his attempt to get a seat on the board. Excluding the votes attributed to Mr Ellis and his family, more than 98% of the remaining votes submitted were against his resolutions.

After seeing off the Ellis challenge, Van Elle chairman Adrian Barden said: “The requisition has been an unnecessary and disruptive distraction.  We are pleased that all of the resolutions have been comprehensively rejected by shareholders. We can now get back to managing the business and delivering our long-term growth strategy for the benefit of all stakeholders."

MPU

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