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Manganese faces investor revolt

13 April 2012

BLACK cab maker Manganese Holdings is facing a shareholder revolt over corporate governance issues. Jamie Borwick, former chairman and chief executive with a 38% stake, voted against the reappointment of Ian Pickering as chief executive at the annual general meeting.

He said: 'There are problems over corporate governance - especially in the share options given to directors.' However, Pickering was reappointed. Borwick has been advised to complain to the FSA.

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