Banknote printer De La Rue investor calls for ouster of chairman

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March 31 (Reuters) – Struggling British banknote printer De La Rue Plc’s shareholder Crystal Amber Fund Ltd on Friday called for a general meeting in an effort to oust current chairman Kevin Loosemore, with immediate effect.

Crystal Amber has proposed a resolution to appoint Pepyn Dinandt, chief executive of the climate control and automotive controls systems divisions at Eberspaecher Group, as chairman, according to a statement.

At a general meeting called in December, 94.9% of the votes cast, excluding the votes cast by Crystal Amber, were in favour of Loosemore to continue as a director of the company and chairman of the board.

Crystal Amber currently holds about 9.8% stake in the banknote printing company, making it the third-largest shareholder.

De La Rue said its board is considering the contents and legality of the requisition notice.

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