Stanford calls for new EGM at Redbus

Liz Vaughan-Adams
Wednesday 25 September 2013 05:56

The battle for control of the internet hotel business Redbus Interhouse flared up again yesterday after founder Cliff Stanford launched a second assault on the management team.

Redbus Group - a company controlled by Mr Stanford which owns about a quarter of Redbus Interhouse - has called for an extraordinary general meeting.

It is proposing, for the second time in a year, that all of Redbus Interhouse's directors be removed from the board and be replaced by Mr Stanford and two of his associates - Tony Simkin and Roy Bliss.

It wants chief executive Michael Tobin, finance director Carl Fry and company secretary Paul Dumond ousted, as well as non-executive directors Bo Bendtsen and Oliver Grace.

Similar proposals last summer tabled by Mr Stanford - who had also called for the appointment of the former Dialog boss Dan Wagner - were rejected by shareholders.

Independent shareholders voted four to one in favour of keeping John Porter, Redbus Interhouse's then boss and the son of the Tesco heiress Dame Shirley Porter. Mr Porter resigned from the board at the end of March.

Mr Stanford, who made about £30m from the sale of the internet service provider Demon Internet, resigned as the deputy chief executive of Redbus Interhouse last Spring.

The company said yesterday it would have to convene the EGM within three weeks. It must then hold the meeting within 28 days of convening it.

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