Storm brewing for superyacht firm

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The Independent Online

Plans to take into private ownership a listed super-yacht company favoured by the likes of Roman Abramovich and Sir Philip Green could be voted down at its annual general meeting today.

The directors of YCO need 75 per cent approval to delist the company, but its former chairman Laurence Milton claims to have gathered a significant blocking stake.

He told i that he has gathered proxy votes and support of 15-20 per cent, which puts the poll on a knife-edge should anyone else oppose the board.

Soaring executive pay at the company has angered investors, and YCO's shares have tanked from 49p on flotation four years ago to a closing price of 5.88p on Friday.

Storm is brewing for superyacht company

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