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LONDON - Walls & Futures REIT PLC (Aquis Stock Exchange:SNOX), a real estate investment trust, has received a formal request to convene a general meeting, according to a press release dated May 2, 2025. The requisition, submitted by shareholders Venture Finance Limited and Malcolm Jordan, who collectively hold over 5% of the company’s ordinary share capital, seeks to remove current CEO Joe McTaggart and Non-Executive Director Ross Taylor from the board.
The shareholders’ requisition also proposes the appointment of Mark Taylor, director and controlling shareholder of Venture Finance Limited, to the board of directors. Additionally, the requisition includes a resolution to halt the company’s previously announced plans to withdraw from the AQSE Growth Market, which was made public on April 29, 2025.
In compliance with the Companies Act 2006, Walls & Futures must call the general meeting within 21 days of receiving the requisition and hold the meeting within 28 days after the notice is given. The board is considering integrating the resolutions from the requisition into the already planned general meeting, where they would be presented to shareholders before the resolutions from the April 29 announcement.
The previously announced proposals include withdrawing the company’s ordinary shares from the AQSE Growth Market, re-registering as a private limited company, and adopting new articles of association. The board has expressed its belief that the resolutions proposed by the requisitioners are not in the best interests of the company or its shareholders as a whole.
Walls & Futures has advised shareholders to take no action at this time and has promised to provide further updates. The information in this article is based on a press release statement.
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