May 3, 2019 / 7:57 AM / 4 months ago

Mears top shareholder proposes two board nominees

May 3 (Reuters) - Britain’s Mears Group said on Friday its largest shareholder has called on the company to add two of its nominees as non-executive board members, and has put up the proposals for vote at the company’s annual shareholder meeting.

The call from PrimeStone Capital, which holds a stake of about 13.5 percent in Mears, comes just over a month after the British housing and care services provider’s annual profit missed estimates, hit by subdued demand.

Mears has recommended voting against the proposals, saying a process for these appointments is already underway. (Reporting by Pushkala Aripaka and Sangameswaran S in Bengaluru Editing by Saumyadeb Chakrabarty)

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