Offshore oil and gas investor Seafox International has criticised Aberforth International for the reappointment of directors to the board of Gulf Marine Services (GMS), which the investment manager holds a 20% stake in.
GMS's 30 June AGM saw the reappointment to the board of ex-BAE CEO Mike Turner and CFO of Sunny Hill Energy David Blewden, despite the grievances raised by 30% stakeholder Seafox, which had been fighting to see the appointment of its own nominees Hassan Heikal and Hesham Halbouny. What have been the worst-performing investment companies during the sell-off? The AGM saw around 59% of shareholders reject the appointments of three directors, as well as the remuneration report, the remuneration policy, bonus plan and LTIP, the executive chairman's share award, and the company's proposal t...
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