April 10 British toymaker Hornby Plc
said on Monday that it received a request from a leading
shareholder to call a meeting seeking removal of chairman Roger
* The toy-maker said it received a letter from Ian Alexander
Anton, signed on behalf of ROY nominees and a group of HSBC
global custody nominees together representing 20 percent of the
company's share capital.
* Hornby said the shareholders are seeking a meeting to
consider resolutions to remove Roger Canham from his office and
to name Ian Anton as the chairman with immediate effect.
* Roger Canham has been Hornby's chairman since February
2013 and is also the chairman of Phoenix Asset Management
Partners Ltd, one of the top shareholder in Hornby.
* The company, in middle of turnaround, said the board
intends to call the meeting within the next 21 days.
* The company said on the Friday that first half of the
turnaround plan progressed in-line with board's plan.
* The company initiated a turnaround plan last June aiming
to decrease its product lines by 40 percent and exit a majority
of its concession agreements to boost its gross margins.
* Shares in Hornby were up 1.5 percent up at 33.96 pence at
(Reporting by Rahul B in Bengaluru; Editing by Sunil Nair)