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LONDON - Ricardo plc, the UK-based environmental and engineering consulting firm, announced today the upcoming general meeting where a resolution will be considered to remove Mark Clare as a director and Chairman of the Board. The meeting is scheduled for 2:15 pm BST on June 18, 2025, at the offices of Ashurst LLP in London.
The resolution was requisitioned by Science Group plc and Ropemaker Nominees Limited, who are registered shareholders of Science Group’s Ricardo shares. The Board of Ricardo has expressed its unanimous disapproval of the resolution and is recommending that shareholders vote against it. In their view, the removal of Clare is not in the best interests of the company or its shareholders.
In the circular posted to shareholders today, the Board reaffirms its confidence in the company’s financial performance, citing that trading is expected to be within the range of analyst expectations for the fiscal year 2024/25. This confidence is supported by the high level of net revenue already secured across the consulting businesses, which has increased from 91% at the end of March to 96% as of May 16, 2025. Additionally, 95% of the gross revenue for the same fiscal period has been secured by their Performance Products (PP) business, with the remainder in the pipeline.
Ricardo plc, listed on the London Stock Exchange (LON:LSEG), is known for its century-long legacy in engineering and its commitment to supporting energy transition and scarce resources, environmental services, and safe and smart transport solutions. The company employs nearly 3,000 people across more than 20 countries.
The information regarding the general meeting and the Board’s recommendations is based on a press release statement provided by Ricardo plc.
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