ThomasLloyd Energy Impact (TLEI) has confirmed that it received a notice from certain entities and funds which hold shares in TLEI and are affiliated with ThomasLloyd Global Asset Management to requisition a general meeting within an agreed timetable. This is in addition to the general meeting announcement made on 12 July. In practice this may only serve to ensure that a general meeting will be held for TLEI soon. We note that ThomasLloyd Global Asset Management holds c.15% of TLEI shares.
The second, and more important, requisition proposes that Sue Inglis, Mukesh Rajani, Kirstine Damkjær and Clifford Tompsett are removed from office as directors of TLEI with immediate effect. They also recommend that Sarah Day, Russell Downs, Martyn Everett and Christian Yates be appointed to the board to replace them. These recommendations were first made by ThomasLloyd Global Asset Management in an announcement released on Friday.
TLEI’s board comments that this announcement still fails to address the concerns raised previously regarding its investment manager. The board also notes that ThomasLloyd has yet to outline proposals for the future of TLEI, only proposing to provide further details following a shareholder vote in favour of continuation. The board continues to recommend shareholders vote against continuation at the AGM due to be held on 24 August.