Ex-ICD pair sign over voting rights

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The Independent Online
TWO former directors of International Communication & Data have signed over their shareholder voting rights to a third party in a bid to unseat three board members.

One of the candidates being lined up as a replacement director is John Porter, son of Dame Shirley Porter, the former leader of Westminster Council's Conservative group.

Yesterday ICD reported a taxable loss of pounds 5m in the 15 months to end- May.

David Cicurel, appointed chairman last December to revive the company's fortunes, said the figures reflected problems under the former management and things were improving.

Nigel Balcome, the previous chairman, and John Apthorp, a former director and the man who built up the Bejam food group, have made over their votes for six months to PSB Group, a marketing company led by a young entrepreneur, Stephen Morris.

PSB is also thought to have purchased 2 per cent of ICD for pounds 100,000, and to have an option over 12 per cent of the two former directors' 23 per cent stake in ICD.

Mr Morris, who is not thought to be a candidate to join the board, could not be contacted.

Mr Cicurel said the attempted coup would be strongly resisted when it came before an extraordinary meeting in December. 'We were hopeful that these previous directors would have made sure that their votes would go into hands willing to support our efforts.'

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