Chill Brands Group PLC (LSE:CHLL, OTCQB:CHBRF) announced it has received a requisition letter from shareholder Jonathan Mark Swann, who holds 12.58% of the company’s voting rights (13.45% of its shares), and is seeking to convene a general meeting.
The shareholder proposes to remove current directors, Antonio Russo and Trevor Taylor, to appoint alternative directors, Graham Duncan and Aditya Chathli.
In the stock market statement, the company said: "The board is deeply concerned by this situation and stands behind its directors.”
The company added that it is currently seeking legal advice on the validity of the requisition and has advised shareholders to refrain from taking any action at this stage.