Lincs FM Group shareholders call for change
Lincs FM Group shareholders call for change
Posted by
Lincs FM Group shareholders call for change

A letter to the minority shareholders of the Lincs FM Group urges them to back a proposal for the removal of the Chairman and the sale of the group.

Two shareholders, Adam Pollock and Adam Pearson, explain to fellow directors that being a locked-in minority in a private company run by a Board ‘seemingly only there for their own benefit’ is an uncomfortable place to be. They say Mr Betton’s salary is too much and are not happy that no dividends have been paid for years.

The highest paid un-named director at Lincs FM, according to public records, received £277,232 plus £33,758 in lieu of pension contributions.

Adam Pollock is Co-Head of Corporate Broking at Zeus Capital whilst Adam Pearson is the owner of Hull FC Super League Club. Pearson was previously CEO of Leeds United.

The letter proposes to remove CEO Michael Betton and Chairman Mr Ednyfed Hudson-Davies, elect Adam Pearson as Chairman and start the process of disposing of the licences.

A notice of General Meeting will shortly be posted to all shareholders, who will then decide the future of the group.

Mr Betton had no comment to make when contacted by RadioToday.

Hear more radio industry news like this at the top of the hour on inRadio - the radio industry's very own radio station. Listen now in a new window whilst you continue reading RadioToday or press play below.

0 Comments Off 6632 08 September, 2016 Alerts, Industry News 2:53 pm 20169 Thursday, September 8th, 2016

Looking for something else?

Register

Subscribe to our emails to stay informed about the latest radio news and products delivered straight to your inbox.

Related Posts

Closing Date: Audio Production Awards - September 29, 2016 at 11:59 pm (Online)
The Imaging Days - October 3, 2016 at 8:00 am (Holland)
The Imaging Days - October 4, 2016 at 8:00 am (Holland)
Radiodays Ireland - October 17, 2016 at 10:00 am (Dublin)
Radiodays Ireland - October 18, 2016 at 10:00 am (Dublin)
ARIAS - Audio and Radio Industry Awards - October 19, 2016 at 6:00 pm (First Direct Arena, Leeds)
WorldDAB General Assembly 2016 - November 9, 2016 at 10:00 am ()
Audio Production Awards - November 24, 2016 at 6:00 pm (BFI Southbank, Belvedere Road, London)
More events