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MBL Group

  • BY: Andrew Hore |
  • POSTED: 30/07/2017 |

Keith Staton is requisitioning a general meeting at MBL Group.

Keith Staton took his stake above 10% back in July 2016. He is keen to stop the directors’ awarding themselves any pay increases without gaining shareholder approval. It is unclear whether he believes that this may be about to happen or whether he is keen to make sure that there will not be any bonuses or pay rises of parts of the business are sold. Management is currently trying to sell the company’s distribution businesses but there has been no news since January.

Net cash was £1.54m at the end of September 2016. The full year figures to March 2017 are still to be published.

There should be news about a date for the meeting by 14 August.

The shares are trading at 12.5p each. 

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