Petroneft’s shareholder, General Invest Overseas, has issued a proposal calling for an Extraordinary General Meeting (EGM).
The EGM would consider the removal five of the six current board members, David Golder, Dennis Francis, Paul Dowling, David Sanders and Gerard Fagan, and the appointment of David Sturt and Antonio Pititto to the board as directors of the company.
A Petroneft spokesperson said: “David Sturt has previously been nominated as a director by another shareholder, Natlata Partners Limited. General Invest has provided no biographical or other details in relation to Mr. Pititto or explanation of how the Company would be managed should the resolutions be successful.
“Should an EGM be required under the Company’s Articles of Association, notification of an EGM, together with the recommendation of the Board, will be posted to shareholders in due course.”