Iodine company rejects Brexiteer’s ‘self-serving’ proposals to take advantage of coronavirus

PUBLISHED: 13:05 10 March 2020 | UPDATED: 13:05 10 March 2020

Leave campaigner Arron Banks. Photograph: Victoria Jones/PA.

Leave campaigner Arron Banks. Photograph: Victoria Jones/PA.

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.

Become a Supporter

Almost four years after its creation The New European goes from strength to strength across print and online, offering a pro-European perspective on Brexit and reporting on the political response to the coronavirus outbreak, climate change and international politics. But we can only continue to grow with your support.

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.


Have your say

Send your letters for publication to The New European by emailing letters@theneweuropean.co.uk and pick up an edition each Thursday for more comment and analysis. Find your nearest stockist here or subscribe to a print or digital edition for just £13. You can also join our readers' Facebook group to keep the discussion and debate going with thousands of fellow pro-Europeans.


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.

'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

Almost four years after its creation The New European goes from strength to strength across print and online, offering a pro-European perspective on Brexit and reporting on the political response to the coronavirus outbreak, climate change and international politics. But we can only rebalance the right wing extremes of much of the UK national press with your support. If you value what we are doing, you can help us by making a contribution to the cost of our journalism.

Become a supporter

You've seen the news, now discover the story

The New European is committed to providing in-depth analysis of the Brexit process, its implications and progress as well as celebrating European life.

Try 13 weeks for £20

Latest Articles

Most Read

latest issue

ANTI-BREXIT EVENTS

Find your nearest pro-European campaigning activities, talks, protests and events nationwide.