Logistics Development Group (GB:LDG) has released an update.
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Logistics Development Group PLC advises shareholders to vote against a board appointment resolution at an upcoming general meeting, following a requisition by a minority shareholder. The board believes the proposed resolutions, which include curtailing investments and winding up the company, are not in the best interests of shareholders and would be ineffective due to non-compliance with the company’s articles of association. They have also secured irrevocable undertakings from shareholders representing 27% of the issued share capital to oppose the requisitioned resolutions.
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