Block Energy PLC (AIM:BLOE, FRA:BE9) is to hold a general meeting on August 11 as a shareholder calls for a forensic investigation into the affairs of the company.
A letter dated July 23 from Forest Nominees Limited, on behalf of 5% shareholder G.P. (Jersey) Limited, requisitioned the meeting and proposes a vote seeking to launch the investigation.
It wants a review of material transactions involving the company and a detailed analysis of the company’s operational performance, including the approach to contracting and use of proceeds.
The shareholder further proposes the review of corporate governance and compliance including director share dealing and the circumstances surrounding the resignation last week of directors Dato Sandroshvilli and Chris Brown.
It calls for the company to retain one of either Deloitte, PwC, Ernst & Young or KPMG for the review.
Block, in a separate stock market, said it would be holding the general meeting on August 11, at 10:00am in London.