More larks at Johnston Press: helpful Norwegian money man and JP shareholder Christen Agger-Hanssen was on the verge of calling an Extraordinary General Meeting at which he hoped to oust interim chair Camilla Rhodes, with a cast list of four new directors - when a "dead hand proxy" came to light.
The dead hand clause forms part of the bond terms by which JP acquired £220m of debt - if there's a shareholder move to appoint new board members, the loan defaults, and the company would be handed to the lenders (and probably collapse).
Christen is having a re-think, telling Reuters:“We are now considering all type of options we have; of course we will talk to all stakeholders in the company. We don’t think the board or the CEO have done anything to build up the company.” Shares in JP are down to 13.25, from highs close to 18p last week.
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Did you hear, or hear of, John Humphrys the other morning, after an "arts" interview saying "we aren't allowed to do news on this programme any more"...
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