BGBL Bglobal

TIDMBGBL

RNS Number : 7009R

Bglobal PLC

30 October 2013

30 October 2013

Bglobal plc

("Bglobal", the "Group" or the "Company")

Posting of a Circular to Shareholders (the "Circular")

and notice of a General Meeting

The Company announced on 15 October 2013 that Peter Kennedy (the "Ousted Chairman"), the registered holder of in aggregate 25,150,814 ordinary shares, representing 23.66 per cent of the issued share capital of the Company, has requisitioned the Board to call a general meeting of Shareholders for the purpose of considering resolutions to remove Tim Jackson-Smith and James Newman as directors of the Company (the "Requisition Notice").

The general meeting has been convened for 11.00 a.m. on Friday, 22 November 2013, and will take place at the offices of Travers Smith LLP at 10 Snow Hill London, EC1A 2AL (the "General Meeting").

At the General Meeting, Shareholders will be asked to consider and vote on the following resolutions (the "Resolutions"), namely that:

1. Tim Jackson-Smith be and is hereby removed from office as a director of the Company with immediate effect; and

2. James Newman be and is hereby removed from office as a director of the Company with immediate effect.

The Board unanimously recommends that Shareholders VOTE AGAINST the Resolutions because:

   --      the Board is not aware of any change in Shareholders' views since August; 

-- Tim Jackson-Smith has the full support of the Board and the 5 years that he has spent with the Company, as first a non-executive Director, then as Commercial Director and finally taking the role of Chief Executive Officer in November 2010, provide him with an invaluable insight into the Group's operations. His experience and knowledge of the business has been instrumental in assisting the Board with the Strategic Review. Tim's legal background is also seen as a great asset to the Group as it progresses to the next stage of its development;

-- Shareholders backed James and Tim in passing the resolution to remove the Ousted Chairman at the general meeting in August and discussions with key institutional shareholders indicate that support for James and Tim, and indeed the whole of the Board, remains as strong as ever;

-- James Newman is a highly experienced plc executive and non-executive Director, having worked in a diverse number of industrial and commercial sectors including utilities and data management, all with international connections. As a Chartered Accountant and previously Group Finance Director of a number of large and successful plcs, and in the absence of a Chief Financial Officer for the Group, due to the recent dismissal of Nick Kennedy, he will continue to assist and advise the senior financial management of the Group on all financial matters; and

-- Shareholders have already shown their support for James Newman at the last AGM only a few weeks ago and there has been no change in his performance since this time.

The General Meeting will take place at the offices of Travers Smith LLP at 10 Snow Hill London, EC1A 2AL at 11.00 a.m. on Friday 22 November 2013.

The Circular and Notice of General Meeting will be posted to Shareholders today and are available to download from the Company's website www.bglobalplc.com

For further information, please visit www.bglobalplc.com or contact:

 
John Grant, Chairman   Mark Taylor 
 Bglobal plc            Charles Stanley Securities 
 Tel: +44 (0)1254 819   Nominated Adviser and 
 600                    Broker 
                        Tel: 020 7149 6000 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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