Van Elle founder plots boardroom coup

Aaron Morby 1 year ago
Share

The founder and former chairman of ground engineering specialist Van Elle has launched an attempt to oust the chief executive and senior independent director.

Michael Ellis is seeking to return to Van Elle’s boardroom after a dispute with chief executive Jon Fenton.

Derbyshire entrepreneur Ellis retired as chairman at the end of last year, several months after Van Elle successfully floated on the AIM market a year ago.

It is understood that Ellis has concerns about the running of the Van Elle, and is reported to have raised concerns about Van Elle’s financial forecasts.

Chief Executive Jim Fenton (left) and Founder Michael Ellis in happier times after the Van Elle list on the AIM market last year

This morning the Van Elle Board confirmed it has received a letter from Ellis requesting a general meeting to put resolutions to shareholders seeking the re-appointment of himself and his son-in-law and former managing director Thomas Lindup, who also left Van Elle last year.

Shareholders will also be asked to vote on resolutions to remove Fenton as chief executive and Robin Williams as senior independent director. 

Van Elle has until 29 November to send a circular to shareholders convening the meeting and will issue this in due course. At this time, the Board recommends that shareholders take no action.

This morning the board also confirmed that trading conditions for the group were unchanged since its last statement in September, when it said Van Elle was set to meet expectations despite challenging market conditions at the specialist railway business.

The board also confirmed this morning that it would provide a trading update for the first half of the financial year later this month. 

Latest news

Hinkley Point MEH joint venture names boss

Graham Donaldson new MD for mechanical, electrical, heating and ventilation consortium
12 hours ago

Rail inspector in safety blast after another near miss

Workers leap for their lives from approaching train in north London
17 hours ago

Funding deal for landmark Birmingham resi tower

Grainger agrees £77m deal for phase 2 at Exchange Square
21 hours ago

BAM checks-in with Manchester 17-storey office/hotel

£50m First Street scheme gets planning thumbs up
21 hours ago

RSK buys scaffolding and traffic specialists

Consultant also secures new financing deal as it plans to double current turnover of £200m
21 hours ago

Willmott Dixon strengthens main board

Construction and interiors chiefs bolster board for post-Brexit market
21 hours ago

Network Rail chief to lead Balfour gas and water arm

Matthew Steele was also programme director at Crossrail
21 hours ago

VolkerHighways to replace Skanska on Bath roads

Contractor will start £49m seven-year deal in April
2 days ago

Modular village to be built in Corby for London commuters

New homes will be built in less than eight weeks
2 days ago

Big Yellow 20-floor flats and storage scheme approved

Work to start on new storage building next summer
2 days ago

Interserve plan to hand RMD Kwikform to lenders

Rescue plan talks to hand profitable equipment business to banks
2 days ago

BAM bags biggest order ever for Facebook UK HQ

King's Cross contract in London is worth over £200m
2 days ago

Hundreds caught in ISG Google site raid

Authorities find problems with paperwork on huge data centre project in Belgium
2 days ago

Boost your online presence – join the Enquirer Directory

New site for suppliers and buyers showcases products, services and latest stories
8 months ago

DfE to launch £2bn offsite schools framework

100 schools a year to be built using DfMA by 2023
2 days ago

Wates names new Midlands operations chief

Richard Woolmore joins from Bouygues where he was regional construction director
2 days ago

RGB Group starts £20m Cardiff student job

Near 400-bed student scheme will be built at Howard Gardens
2 days ago

Balfour Beatty delivers 2-3% construction margin goal

Leo Quinn hits phase two target of Build to Last turnaround plan
5 days ago

Firms admit price-fixing of concrete drainage products

Precast firms took part in cartel for seven years
6 days ago

£300m Edgbaston mixed-use scheme advances

Phase one office project edges closer at New Garden Square regen scheme
5 days ago

All JCB staff get £1000 Christmas bonus

Over 7,000 staff earn biggest Christmas bonus in a decade
5 days ago

Robertson appoints Morgan Sindall director

Scott Wilson is now Robertson's business development director
6 days ago

Beeston leisure centre out to bid

Bidding starts on cinema project in £30m shops and 130 homes scheme
6 days ago

Scape MD to head Perfect Circle consortium

Victoria Bambini to lead AECOM, Pick Everard and Gleeds joint venture
6 days ago

EastEnders set rebuild soars £27m over budget

NAO slams BBC for planning failures and procurement delays
6 days ago

Spurs stadium delays continue into New Year

Man Utd match will be played at Wembley next month as contractors work through Christmas
6 days ago

Speedy buys construction training business for £9m

Plant hirer buys Glasgow-based Geason in construction training push
6 days ago

Summer start for £25m Carlisle flood defence plan

Flood defence plan to be revealed three years after storm Desmond hit
6 days ago

Amco wins Dunbar railway station upgrade

Work to start next summer on new platform and footbridge
6 days ago

Architects win post-Brexit talent deal

Designers win concessions but construction still in skills turmoil
7 days ago

Contractor services