BDA sets up its post-coup regime

Click to follow
BDA HOLDINGS, the property company that on Friday ousted its chairman, Brian Duker, yesterday sought to restore order with the announcement of management appointments.

The former non-executive director Richard Wollenberg, the prime mover behind Mr Duker's removal, was confirmed as chairman. Nigel Jamieson, who also supported the boardroom coup, remains as a non-executive but will take a more active role in the day- to-day running of the company.

Anthony Dawes, the manager in charge of building operations, has been appointed general manager of the company.

Mr Wollenberg said additional directors would be appointed in due course. 'The company intends to build out its existing developments and land bank and will seek new opportunities to take the company forward,' he said.

At Friday's extraordinary meeting shareholders holding 10 million shares - 56.01 per cent of the company - voted to remove Mr Duker. Only 629,136 shares, or 3.48 per cent, were cast in his support.

Mr Duker, whose three-year rolling contract was renewed in April, has filed a claim for compensation for loss of office. His pay and perks were thought to be worth about pounds 100,000 a year. The company said it would vigorously defend the action.

BDA's shares rose 2.5p to 29.5p yesterday.

(Graph omitted)