Iodine company rejects Brexiteer’s ‘self-serving’ proposals to take advantage of coronavirus
Leave campaigner Arron Banks. Photograph: Victoria Jones/PA. - Credit: PA Archive/PA Images
The board of an Iodine company which millionaire Brexit donor Arron Banks is trying to join have urged shareholders to ignore his 'self-serving' demands.
The New European previously reported how Banks was looking to take advantage of the coronavirus by joining the board of Iofina to steer the business in a new direction.
The intention first came to light when Leave.EU director of communications Andy Wigmore tweeted about his attempt to seek a place on the board - a tweet now deleted.
The Brexiteer made a series of claims about the Iofina business and the company's director, which the board told an industry newspaper was because it did not to proceed with investments in a business that Banks was associated with.
'Messrs Banks and Wigmore were seeking to use Iofina as a vehicle to conduct related party transactions solely for their own benefit,' they claimed.
You may also want to watch:
While the board accepted some mistakes had been made, they said it was opposed to Banks' proposals and believe they are not in the best interests of shareholders.
Banks has called for a meeting of shareholders to try to remove non-executive chairman Lance Baller, and install himself as a director.
Most Read
- 1 Leave EU website suspended after EU registry blocks move to Ireland
- 2 Priti Patel fails to appear in Commons to answer questions on missing police records
- 3 Tory minister admits UK rejected EU's music visa offer in order to 'take back control' of borders
- 4 Iain Duncan Smith defends calling Donald Trump 'a decent man'
- 5 The bigot we should have called out on day one
- 6 Boris Johnson blames seafood companies for post-Brexit sales slump
- 7 Kwasi Kwarteng confirms post-Brexit review of workers' rights
- 8 Comedian wins praise after shaming No 10 during Dancing on Ice appearance
- 9 The Tory MPs who failed to vote against a Universal Credit cut
- 10 Bob Geldof vindicated over pro-EU fishing stunt, suggests broadcaster
'Iofina does not view his appointment as beneficial to the company, but more likely would negatively impact the strategy and undo the significant progress that has been made over recent years,' Iofina said.
They added his proposals to market iodine during the coronavirus outbreak were wrong when chlorine, peroxide and alcohol-based disinfectant solutions already exist.
Become a Supporter
The New European is proud of its journalism and we hope you are proud of it too. We believe our voice is important - both in representing the pro-EU perspective and also to help rebalance the right wing extremes of much of the UK national press. If you value what we are doing, you can help us by making a contribution to the cost of our journalism.
