Headlam shareholders have overwhelmingly rejected all five resolutions proposed at a requisitioned general meeting called following a request from shareholder First Seagull AS.
The proposals included the removal of three existing non-executive directors and the appointment of two new board members nominated by First Seagull. All resolutions were defeated, with turnout of around 70%, higher than attendance at the company’s recent AGM.
The board welcomed the outcome and thanked shareholders for their support. It said the process had created an unnecessary distraction for the business and called for a period of stability to allow the new executive team to focus on delivering operational improvements.
Headlam reiterated its commitment to engaging with shareholders while acting in the best interests of the wider business and its stakeholders.
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