Listed UK property services company Erinaceous announced on Tuesday that executive deputy chairman Neil Bellis and chief operating officer Lucy Cummings have resigned from the company board. Bellis, the former chief executive, and Cummings had been the focus of shareholder dissent earlier this year. The hedge fund Fursa Alternative Strategies, owner of a 19% stake, had recently asked for an extraordinary general meeting where shareholders could vote on the removal of the two board members. In a statement, Erinaceous said that Fursa has now withdrawn this request.
Listed UK property services company Erinaceous announced on Tuesday that executive deputy chairman Neil Bellis and chief operating officer Lucy Cummings have resigned from the company board. Bellis, the former chief executive, and Cummings had been the focus of shareholder dissent earlier this year. The hedge fund Fursa Alternative Strategies, owner of a 19% stake, had recently asked for an extraordinary general meeting where shareholders could vote on the removal of the two board members. In a statement, Erinaceous said that Fursa has now withdrawn this request.
Commenting on the resignations, Erinaceous chairman Nigel Turnbull said: 'I am pleased that the issues raised by the shareholders' EGM requisition have been addressed satisfactorily. Over the past two months we have restructured the board, appointed new corporate management and strengthened our team of professional advisors. The board's focus now is to complete the strategic review announced at the interim results.'
Erinaceous was formed in 1999 and is now a substantial provider in the property services sector with turnover of over £ 114 mln. It employs over 5,000 people.