News blog

Gladstone

  • BY: Andrew Hore |
  • POSTED: 16/02/2009 |

Gladstone is urging shareholders to vote against the general meeting resolutions put up by Constellation Software Inc.

The membership software developer says that it has the backing of 21.2% of the share capital. As Constellation owns 29.9%, it is in the lead at this point. Gladstone may have a hard slog mobilising other shareholders.

Constellation wants to have its chairman and president Mark Leonard appointed to the Gladstone board.

Constellation wanted board representation even before it launched its unsuccessful 25p a share bid for Gladstone in the autumn of 2008. Gladstone feels that there is a potential conflict of interest and feels that Constellation has more to gain from this than other shareholders. Gladstone worries that Constellation will become privy to information that could make it easier for it to bid for the company. It may even put off other suitors.

At 19.5p a share, Gladstone is valued at £9.38m.

© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds