Karelian Diamond Resources has received a requisition for a general meeting but says it is not valid.
The requisition is to remove Professor Richard Conroy, Maureen Jones, Seamus FitzPatrick, Dr Sorca Conroy and Louis Maguire. The directors own 22.1% of Karelian.
They would be replaced by Alan Osbourne, Stephen Grimmer, Martin Doyle and Kevin Taylor. Osbourne owns 4.32% and Taylor 3.06%.
An updated requisition is likely to be lodged with the diamond project developer. There are three projects in Finland.
The share price has fallen by 96.8% over ten years.
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