Maven Renovar VCT slapped with general meeting requisition in bid to oust board

Section 303 notice lodged

A group of Maven Renovar VCT (MRV) shareholders has moved to oust the incumbent board, adding further woes to the company’s ongoing turmoil.

A notice under Section 303 of the Companies Act 2006 has been filed from a group representing more than 5% of shareholders, requiring MRV to hold a general meeting to elect a board of proposed directors.  The move follows commotion at the company's annual general meeting earlier this month, which threw the future of the VCT into question.  Maven Renovar in turmoil after AGM sees strategy and board rejected Seven resolutions, including the approval of the company's investment strategy and the selection of the board, failed to pass after a "significant proportion" of the total votes ...