Fresh twist in battle for Victoria
CARPET manufacturer Victoria’s board has blasted the potential bidder for the business in the latest twist in the battle for its ownership.
The consortium headed by former Victoria director Alexander Anton and New Fortress Finance Holdings is urging shareholders to back its campaign to maximise value from the business.
It issued a strong statement last week outlining its position, one refuted by the current board.
A general meeting next month will hear both sides put forward their cases for the future of the firm.
In its latest statement, the board said: “The board would like to place on record that it strongly refutes much of the content of both the Requisitioners’ RNS announcement and the Requisitioners’ Statement, which both contain statements that are misleading.
“The board notes that the Requisitioners continue to suggest that they only seek to replace the two non-executive directors of the board with their four proposed directors to give themselves board control.
“However, 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.”
It said it had been made aware that stakeholders in the business, including employees, suppliers and customers, were concerned about the proposed changes.
The board put the company, which operates Holmfirth-based Westwood Yarns, and its operating businesses up for sale last month.
