Aim-listed Ironveld has informed shareholders that it has received a requisition notice from a significant shareholder, requesting the board of directors to arrange a general meeting and to consider the removal of chairperson Giles Clarke and CEO Martin Eales as directors of Ironveld.
The Ironveld board says it believes the timing of the requisition notice is inappropriate and that the resolutions proposed "are vexatious" and linked to a number of commercial proposals the shareholder has put to the company.
"The board is considering the impact these proposals and actions might have on the interests of all shareholders and will respond in . . . due course," the company says.