Swindon & Wiltshire Business News

Print

Boardroom battle averted at Good Energy

on .

Juliet Davenport of Good EnergyJuliet Davenport of Good EnergyA bid by a commercial rival to appoint himself to the board of Chippenham-based eco energy provider Good Energy has been abandoned.

A general meeting of the company’s shareholders, due to be held before the end of August, was called off on Thursday last week, after Stroud-based Ecotricity Group Limited withdrew its request for two seats on the board.

As reported by Business Biscuit back in July, the bid had come after Ecotricity bought shares in Good Energy over a 12 month period, becoming the Chippenham company’s biggest shareholder with a 25.3 percent stake.

Ecotricity owner Dale Vince requested two non-executive seats on the board, forcing Good Energy to call a general meeting of shareholders, who would be invited to vote on the proposal.

But last week Mr Vince withdrew his request.

Good Energy chairman John Maltby said: "We seek a constructive dialogue with Ecotricity, as we do with all of our shareholders, and see this as a positive step.

“We hope very much that we can put this matter behind us and would like to thank our customers, shareholders, and other stakeholders for their support."