Directors of Victoria Carpets – which has been the subject of a boardroom battle in recent months – has branded a consortium too hostile to work alongside.
A consortium headed by former Victoria director Alexander Anton and New Fortress Finance Holdings has in recent months urged shareholders to back a campaign they claim will maximise value from the business by removing two non-executive directors and bringing in four new people to the board.
In a statement to the London Stock Exchange, the Victoria board has said it would not be possible to work with the new directors after the consortium had been “hostile” and “threatening”.
In a statement issued last week, the consortium claimed it had the backing of 46 per cent of shareholders and planned to “create meaningful value” for shareholders.
The two parties both told the Post last week that they would offer a better option for shareholders and customers.
The board of Victoria has since issued a statement saying the actions of the consortium meant it would present a problem in terms of the ability to work together harmoniously.
It states: “The board considers the hostile conduct of the consortium generally, combined with their aggressive statements about the board as a whole, to be irreconcilable with their suggestion that the proposed directors can work together harmoniously with the executive directors.
“The requisitioners are also repeatedly threatening directors via legal letters of the actions that they may take against them
The consortium told the Post last week they were shareholders exercising a legal right to make improvements to management of the company.