Coup attempt at Leicester City

Leicester City, the publicly quoted football club, is facing a boardroom coup after one of its major shareholders requisitioned an extraordinary meeting to oust all six of the company's non-executive directors.

The move follows bid speculation last year about the club, which was relegated from the Premiership in May.

Gilbert Kinch, a former Leicester City director who owns just over 10 per cent of the shares, has requisitioned an EGM to oust Sir Rodney Walker, the group's chairman, as well as Greg Clarke, John Elsom, Martin George, Bill Shooter and Brigid Simmonds. Mr Kinch wants to replace them with himself, Freddie Fletcher, a former Newcastle United chairman, and Denis Cassidy, a former Newcastle non-executive. The meeting will be held on 11 July.

Mr Kinch did not reveal the reasons for his actions. However, Sir Rodney recommended shareholders vote against the resolutions. He said: "The board does not understand how uncertainty created by this EGM could assist the football management, team and staff."

The action comes at a crucial stage for Leicester. It is facing the sale of some of its best players following relegation to the Nationwide Division One and is moving to a new stadium.

Mr Kinch left in 1999 after another EGM. He has built up his shareholding only recently. The shares were flat at 13p, valuing the company at £4.9m.