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Plutus PowerGen

  • BY: Andrew Hore |
  • POSTED: 13/01/2020 |

Rebel shareholders failed to gain board seats at Plutus PowerGen. 

None of the three existing directors was removed. All the resolutions were lost by around 54% to 44% of the votes received.

JIM Nominees Ltd requisitioned the general meeting.

Management contracts with Rockpool Investments and Attune Energy for flexible generation sites have been terminated. This means that there is no further income from these deals.

Rockpool owes £610,000 according to Plutus. The board is not drawing salaries and other costs are being controlled.

Plutus still has a 44.5% interest in the six sites it managed for Rockpool. These may be sold, which would provide much needed cash for the company.

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