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Speedy to call meeting after Toscafund statement

25 July 2016 14:02

Speedy Hire said its directors have noted the statement released today by Toscafund Asset Management, calling for the removal of the company's executive chairman.

Toscafund, which holds a 19.5% stake in Speedy Hire, questioned chairman Jan Astrand's decision making and board appointments.

Speedy Hire said its board would call a general meeting within 21 days and provide for such meeting to be held on a date not more than 28 days after the date of the notice of such meeting.

"The Board will respond to the Toscafund statement accordingly," the company said in a statement.

CEO Mark Rogerson quit 18 months into the job after being unable to revive the business.

At 2:02pm: (LON:SDY) Speedy Hire PLC share price was +0.75p at 33.75p

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