Etonbrook rebel fails in mission

ANDREW PERLOFF, a rebel shareholder at Etonbrook Properties, and his associate Malcolm Bloch failed to win seats on the board at yesterday's annual meeting. They had been trying to unseat Etonbrook's chairman, Jonathan Harris, and managing director, Keith Moss.

The company's proposal to repay preference shares gained the support of 72.2 per cent of shareholders, just short of the 75 per cent needed. Mr Harris said: 'Given this level of support I intend to immediately put the proposals to shareholders once again. This time shareholders will be able to concentrate fully on the advantages of receiving a 27.75p- a-share cash payment.'

The alternative proposals put forward by Mr Perloff, who speaks for 15 per cent of Etonbrook's equity, were rejected.