Mears top shareholder proposes two board nominees
In this article:
(Reuters) - Britain's Mears Group said on Friday its largest shareholder has called on the company to add two of its nominees as non-executive board members, and has put up the proposals for vote at the company's annual shareholder meeting.
The call from PrimeStone Capital, which holds a stake of about 13.5 percent in Mears, comes just over a month after the British housing and care services provider's annual profit missed estimates, hit by subdued demand.
Mears has recommended voting against the proposals, saying a process for these appointments is already underway.
(Reporting by Pushkala Aripaka and Sangameswaran S in Bengaluru; Editing by Saumyadeb Chakrabarty)
