British firm JKX Oil and Gashas asked for Eclairs Group to clarify their position amid allegations that the shareholder was attempting a boardroom coup.
Directors at London listed JKX, which has onshore assets in Ukraine and Russia, claim to have received a request for all seven of them to be removed from the top table.
Eclairs Group Ltd, which holds 27.5 percent of the total voting shares, proposed last month that at the firm’s next AGM Mr Michael Bakunenko is appointed as a director.
JKX claim to have received a further request from Eclairs for ordinary resolutions to be proposed at the next Annual General Meeting to remove all seven of the current directors of the company
In an earlier statement, JKX said that read together these requests appear to indicate that Eclairs’ aim is for Mr Bakunenko to be appointed as the sole director of the Company, a scenario which would leave the company in breach of both the Companies Act and its constitutional documents.
The board of JKX has now written to Eclairs noting the “apparent inconsistency” between the outcome of such proposed resolutions being passed – i.e. Mr Bakunenko becoming the sole Director of the Company – and the requirements of both UK companies’ legislation and the company’s constitution.
JKX has requested that Eclairs clarifies its position as soon as possible.
The board is scheduled to hold a meeting later this week to discuss, inter alia, the proposals from Eclairs referred to above and separate proposals from another significant shareholder, Proxima Capital, regarding the composition of the board.
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