Although retail holders holding 8.73million shares in Bowleven have indicated to this website they are broadly in support of boardroom change at the company there is currently no plan to set up a concert party.
BowlevenHolders.net has no intention of requisitioning an EGM.
If anyone is going to requisition an EGM to put proposals for change to a shareholder vote it will be up to Crown Ocean to do this. At this point it will be up to individual shareholders to decide whether or not they support the proposal.
Of course, the situation might change and the following two links provide useful background knowledge in the event that BowlevenHolders.net sets up a concert party.
- Practice Statement 26 from the Takeover Panel – this explains in detail the Takeover Panels approach to application of the Takeover Code in the event of a shareholder activist campaign.
- Background information concerning the technicalities of requisitioning a company general meeting – written by the Company Law Club this provides an excellent description of the legal practicalities concerning requisitioning a company general meeting.