Boardroom brawl revs up at Vmoto

Sparks are flying in the boardroom at Vmoto, with warring directors Russell Goodman and Trevor Beazley both subject to resolutions to remove them from the scooter retailer's board.

Vmoto announced on Monday that Mr Goodman would no longer serve as executive chairman, at the same time it said it was re-thinking the proposed relocation of its head office to Queensland.

And according to documents lodged with the ASX yesterday, significant shareholder Patrick Davin put forward a resolution to remove Mr Goodman as a director.

But Mr Goodman retaliated in kind this morning, using his 7.52 per cent shareholding in the company to request Mr Beazley be removed from Vmoto's board.

Vmoto said it would keep its shareholders informed in due course.

Shares in Vmoto hit a 52-week low yesterday, after one of its significant Melbourne-based shareholders reduced their stake in the company from 7.98 per cent to 6.44 per cent.

At 09:38AM Vmoto shares were slightly up to 6 cents, from the low of 5.7 cents yesterday.