Major investors such as Perpetual are becoming increasingly frustrated at the delaying tactics of the board, which has indicated that it could be several weeks before it issues a detailed circular countering allegations made by Dr Andrew Millar, its former head of clinical trials who was sacked last week.
Bob Yerbury of Perpetual, said: "We continue to have concerns and they need to be addressed as a matter of urgency."
Another leading shareholder said: "We cannot be talking about weeks before this circular. It must be days. Shareholders and advisers need to satisfy themselves as to whether there is any validity to these claims. I think there probably is and if so then there would need to be some changes to the front team."
British Biotech said: "We are preparing a comprehensive circular to prospectus standards. That would normally take in excess of four weeks."Reuse content