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Independent Media Support Group
- BY: Andrew Hore |
- POSTED: 27/10/2008 |
Former Independent Media Support Group boss Sylvia Sheridan succeeded in removing two directors and appointing three others at the company’s AGM.
Chairman John Reiss resigned before the vote was taken and managing director Mark Robinson was voted off.
Paul Dudley, Paul Woods and Andrew Brode, the boss of patent translation company RWS Holdings, were appointed as directors.
Sheridan owns 75.5% of the company and she will be appointed as a full time consultant. Sheridan’s employment at the TV subtitles provider was terminated in June 2008 because she was paid additional remuneration of £58,200 without the approval of independent non-executive director - and subsequently appointed chairman - John Reiss. It appears she has effectively got her job back but not returned to the board. The terms and conditions of the consultancy appointment have not been finalised.
IMS joined Aim on 24 June 2004 and raised £6m at 57.5p a share.
At 5.25p a share, IMS is valued at £1.37m.
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