Empresaria Group announces board overhaul as shareholders back changes

LONDON - Empresaria Group plc (AIM:EMR), the international specialist staffing group, announced Thursday that shareholders approved all resolutions at its requisitioned general meeting, resulting in a complete board overhaul.

At the meeting held Wednesday, shareholders voted to remove four directors including Stephen Bellamy, Ranjit de Sousa, Rhona Driggs, and Penelope Freer, with approximately 82.2% of votes cast in favor of each removal.

The company has appointed four new non-executive directors: Joost Kreulen as Chair, Vinod Tailor, Arun Shankardass, and Eckhard Köhn. Kreulen previously served as Empresaria’s Chief Executive Officer from 2012 to 2018.

Rhona Driggs has been terminated as Chief Executive Officer with immediate effect. Tim Anderson, the company’s Chief Financial Officer, remains on the board as the only continuing director.

Following the vote results, Singer Capital Markets Advisory LLP resigned as Empresaria’s Nominated Adviser and joint broker, in line with its previously announced intention to step down if any resolutions were approved. Allenby Capital Limited has been appointed as the company’s new Nominated Adviser and joint broker with immediate effect.

The shareholder vote saw strong participation with approximately 85.14% of the company’s issued share capital represented. Of the 49,853,001 total voting rights available, more than 42 million votes were cast on each resolution.

Among the new directors, Kreulen holds 100 ordinary shares in Empresaria, while the other new appointees do not currently hold any shares in the company.

This information is based on a press release statement issued by Empresaria Group.

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