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Evolve Capital

  • BY: Andrew Hore |
  • POSTED: 28/09/2010 |

An attempt to remove Oliver Vaughan as chairman of Evolve Capital has failed. 

Evolve says that the shareholders who requisitioned the general meeting to remove Vaughan did not turn up or vote on the resolution, which was defeated on a show of hands.

Former Astaire corporate finance executive Olly Cairns and GHC Nominees Ltd were behind the requisition. Their stake was diluted to 3.65% by the recent open offer by Evolve.

The requisitioning of the general meeting has forced Evolve to placate shareholders by carrying out a strategic review of its investments.

Evolve will publish more information about its investments in its interim results on 29 September.

At 1p a share, Evolve is valued at £2.83m. 

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