
A move to change the make-up of the board at Eden property firm Penrith Farmers’ and Kidd’s was rejected by its shareholders.
Around 70 shareholders attended a lively special meeting of the company, held at the Hired Lad, Penrith, with questions asked on the future direction of the business and the performance of its existing board.
Those speaking included a leading shareholder, Robert Derek Calrow, who instigated the move to change the board and was seeking to gain a place on it.
He reassured fellow shareholders that he had no plans to sell off the auction mart site owned by PF&K.
Three motions were discussed, one being to remove the company’s chairman, Bernard Wharam, from the board.
The number of votes in favour of this was 55,225, with 148,076 against and 400 withheld, giving a total of 203,301 — almost two thirds of the number of shares in the company, making it a much higher turnout than usual at meetings of the firm.
The second motion, to remove board member Stephen Dunn from his position, received 78,625 votes in favour and 124,461 against, with 615 withheld.
Far closer was the motion that Mr Calrow be appointed to the board, with 99,044 in favour, 103,524 against and 1,133 withheld.