Shaw rebels promise to fight on

REBEL shareholders in Arthur Shaw, the builders' hardware company traded on the Unlisted Securities Market, said yesterday they would continue their bid to unseat the chairman, Gordon Pearson, writes John Murray.

Granville, the merchant bank advising the Tickler family, which owns about a third of Shaw, issued a statement saying that the proposals to remove Mr Pearson and reappoint two former directors would be put to an extraordinary meeting.

This was despite the fact that Mr Pearson earlier this week obtained an interim injunction in the High Court, preventing the reappointment to the board of Ian Tickler, a former chairman of Shaw, and Donald Crammond, a former deputy chairman.

Granville said that the rebels considered the legal action without foundation and would seek to have it overturned, so shareholders could vote on the proposals.

Mr Pearson could not be contacted to comment. The company must set a date for the extraordinary meeting by Wednesday.