22/10/2012 - 15:55

Forge overlooks major shareholder

22/10/2012 - 15:55

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In what must rate as one of the more embarrassing oversights in WA business, engineering contractor Forge Group has admitted that it forgot about one of its directors when it prepared this year’s notice of annual meeting.

And not just any director – Kevin Gallagher is managing director of Clough, which just happens to have a 36 per cent stake in Forge Group.

Forge said that due to an administrative oversight, a resolution for the re-election of Mr Gallagher was not included in the notice of meeting.

The notice was posted to shareholders on 25 September yet Forge admitted today that it has “only just become aware of this oversight”.

The meeting is scheduled to be held on 24 October - two days away.

Despite this, Forge has obtained advice that shareholders will be able to vote for the re-election of Mr Gallagher, even though the relevant resolution was not included in the notice of meeting.

Today’s announcement provided a brief summary of Mr Gallagher’s career, including his time in senior roles at Woodside and his current role at Clough, where he succeeded John Smith last year.

Curiously, there was no mention of Clough’s shareholding in Forge Group.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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