Inveresk has urged shareholders to vote against admitting Klippan Paper representatives Jan Bernander and Alan Walker to its board at todays AGM (29 June).


A report in Scottish business tabloid Business AM speculated that Klippan Paper needed a further 1% of votes on top of its 24% share for success, because in previous years 50% of shareholders have voted.


But this was dismissed as misleading by Inveresk group finance director Gerard Cassels. "Wed expect that figure to be higher than 25% on such a big issue," he said.


"Were advising shareholders that it is not in the interest of the remaining 74% to have two Klippan directors on the board."


He added: "Were saying that theres a conflict of interest there. If there are two active Klippan directors on Inveresks board, they would have access to our strategy, product development and our relationships to merchants and printers."


Cassels also dismissed reports that Bern-ander was close to obtaining the backing of Inveresks other major shareholder, Phillips & Drew (PDFM).


"Our executive chairman Ken Minton is fully supported by PDFM. As hes saying theres a conflict, we would be surprised if they said differently," said Cassels.


Former Arjo Wiggins chairman Minton replaced non-executive chairman William Goodall and managing director Stefan Kay last month (PrintWeek, 18 May).


Story by John Davies