Small talk: Dawson faces a fiery investors' meeting

Who would have thought that cashmere jumpers and bed linen could cause such hostility?

Dawson International, the Aim-listed producer of both – with a market capitalisation of a touch over £6m – has seen its share price rocket by more than 83 per cent in the past year. Such strong performance comes after several heavily indebted years of woe, which the current management team claim the responsibility for turning around.

It might come as a surprise, therefore, that the group's biggest shareholder, textile processing and fabric printing outfit Leeds Group, is seeking to remove Dawson's chairman Mike Hartley.

Mr Hartley accuses Leeds Group, which owns a 28.8 per cent stake in Dawson, of trying to gain ownership through the back door. It would be bad for other shareholders, he says, to allow a Leeds' nominated non-executive director to take over as interim chairman when Mr Hartley retires – a move he has already tried to take but decided to postpone. A new potential chairman was approached, but Leeds Group objected, leading to Mr Hartley's decision to stay on for now.

Leeds Group, for its part, is seeking the removal of Mr Hartley at Dawson's AGM in May. One of the group's non-executive directors, Peter Gyllenhammer, who is also a private shareholder and who refers to Mr Hartley by his surname, says that the accusation that Leeds wants to take control of Dawson is "complete and utter nonsense".

Mr Gyllenhammer's main beef is costs, which he says have spiralled as a result of excessive executive pay despite no dividends for to shareholders and employees in Scotland being laid off. Mr Hartley counters that the costs are legacy costs and the money is not going into management pockets.

A ringside seat at the AGM on 8 May promises much entertainment.

ASHLEY HOUSE

There are plenty of companies on the Alternative Investment Market (Aim) that are struggling as investors increasingly turn their backs on the small-cap sector.

There are exceptions of course, and for the right company in the right sector attracting investment should still be easy. Take, for example Ashley House, which announced last week that it has raised £2.275m in a share placing with Invesco Perpetual, which will become the group's fourth-biggest shareholder after buying 3.5 million shares at 65p each.

It not difficult to see why investors are happy to throw in their lot with a company like Ashley House. The group works with primary care trusts to identify new sites for specialist health centres, doctors' surgeries and the like. It then forms joint ventures, known as Local Improvement Finance Trusts, or Lifts, and manages the planning permission, construction and subsequent running of the building. Since the inception of the Lift in 2001, some 220 new buildings have been put up worth a total of £1.5bn – largely paid for out of public funds.

GAS TURBINE EFFICIENCY

It would seem that not everybody is feeling the strain of the recession. Aim-listed Gas Turbine Efficiency (GTE) is set to announce its full-year results today and while most groups' numbers are met with groans from investors and spinning from press spokespeople, GTE is expected to buck the trend.

There has been no word from the company since the January trading update, predicting that 2008 full-year revenue could be up by as much as 96 per cent – not only impressive in its own right, but a cut above most analysts' expectations.

With a little further investigation it is easy to see why GTE is in clover. The company provides the technology that cleans and improves the performance of industrial turbines, which not only helps to boost efficiency but is also better for the environment, the group claims.

Suggested Topics
Start your day with The Independent, sign up for daily news emails
PROMOTED VIDEO
ebooks
ebooksA year of political gossip, levity and intrigue from the sharpest pen in Westminster
Sport
Adnan Januzaj and Gareth Bale
footballManchester United set to loan out Januzaj to make room for Bale - if a move for the Welshman firms up
Arts and Entertainment
Lena Headey as Cersei Lannister in Game of Thrones
film
News
i100
Sport
Yaya Sanogo, Mats Hummels, Troy Deeney and Adnan Januzaj
footballMost Premier League sides are after a striker, but here's a full run down of the ins and outs that could happen over the next month
News
Nigel Farage celebrates with a pint after early local election results in the Hoy and Helmet pub in South Benfleet in Essex
peopleHe has shaped British politics 'for good or ill'
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Selby Jennings: VP/SVP Credit Quant- NY- Investment Bank

Not specified: Selby Jennings: VP/SVP Credit Quant Top tier investment bank i...

Selby Jennings: Quantitative Research | Equity | New York

Not specified: Selby Jennings: Quantitative Research | Global Equity | New Yor...

Selby Jennings: SVP Model Validation

Not specified: Selby Jennings: SVP Model Validation This top tiered investment...

Selby Jennings: Oil Operations

Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...

Day In a Page

War with Isis: The West needs more than a White Knight

The West needs more than a White Knight

Despite billions spent on weapons, the US has not been able to counter Isis's gruesome tactics, says Patrick Cockburn
Return to Helmand: Private Davey Graham recalls the day he was shot by the Taliban

'The day I was shot by the Taliban'

Private Davey Graham was shot five times during an ambush in 2007 - it was the first, controversial photograph to show the dangers our soldiers faced in Helmand province
Revealed: the best and worst airlines for delays

Revealed: the best and worst airlines for delays

Many flyers are failing to claim compensation to which they are entitled, a new survey has found
The stories that defined 2014: From the Scottish independence referendum to the Ice Bucket Challenge, our writers voice their opinions

The stories that defined 2014

From the Scottish independence referendum to the Ice Bucket Challenge, our writers voice their opinions
Stoke-on-Trent becomes first British city to be classified as 'disaster resilient' by the United Nations

Disaster looming? Now you know where to head...

Which British city has become the first to be awarded special 'resilience' status by the UN?
Finally, a diet that works: Californian pastor's wildly popular Daniel Plan has seen his congregation greatly reduced

Finally, a diet that works

Californian pastor's wildly popular Daniel Plan has seen his congregation greatly reduced
Say it with... lyrics: The power of song was never greater, according to our internet searches

Say it with... lyrics

The power of song was never greater, according to our internet searches
Professor Danielle George: On a mission to bring back the art of 'thinkering'

The joys of 'thinkering'

Professor Danielle George on why we have to nurture tomorrow's scientists today
Monique Roffey: The author on father figures, the nation's narcissism and New Year reflections

Monique Roffey interview

The author on father figures, the nation's narcissism and New Year reflections
Introducing my anti-heroes of 2014

Introducing my anti-heroes of 2014

Their outrageousness and originality makes the world a bit more interesting, says Ellen E Jones
DJ Taylor: Good taste? It's all a matter of timing...

Good taste? It's all a matter of timing...

It has been hard to form generally accepted cultural standards since the middle of the 19th century – and the disintegration is only going to accelerate, says DJ Taylor
Olivia Jacobs & Ben Caplan: 'Ben thought the play was called 'Christian Love'. It was 'Christie in Love' - about a necrophiliac serial killer'

How we met

Olivia Jacobs and Ben Caplan
Bill Granger recipes: Our chef's breakfasts will revitalise you in time for the New Year

Bill Granger's healthy breakfasts

Our chef's healthy recipes are perfect if you've overindulged during the festive season
Transfer guide: From Arsenal to West Ham - what does your club need in the January transfer window?

Who does your club need in the transfer window?

Most Premier League sides are after a striker, but here's a full run down of the ins and outs that could happen over the next month
The Last Word: From aliens at FA to yak’s milk in the Tour, here’s to 2015

Michael Calvin's Last Word

From aliens at FA to yak’s milk in the Tour, here’s to 2015