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Iofina says no formal request for board change from Brexiteer Arron Banks

In a statement, Iofina said: “The company confirms that, at this time, it has not received a requisition for a GM”

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Banks recently topped up his stake in Iofina to 12.66%

Iofina PLC (LON:IOF) says it has not received a formal requisition from Brexiteer Arron Banks for a general meeting (GM) to change the board at the iodine and hemp producer.

Proposals to replace non-executive chairman Lance Baller and appoint Banks and two of his supporters were posted on Twitter by an associate of the Leave EU man.

In a statement, Iofina said: “The company confirms that, at this time, it has not received a requisition for a GM.”

“In the event the company receives a proper requisition for a GM, it will deal with it appropriately and will respond more fully at that time. In the meantime, the board believes that posting this type of information on social media, instead of by proper and legally permitted channels, to be wholly inappropriate and in potential violation of applicable law and regulation,” it added.

Banks, who recently topped his up his stake in Iofina to 12.66%, is unhappy over the company’s move into hemp and wants it to make more of its iodine capability during the coronavirus crisis.

 

Quick facts: Iofina PLC

Price: 12.25 GBX

LSE:IOF
Market: LSE
Market Cap: £23.5 m
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