The resolution was filed by Tibergest BV, a member of the company holding 19.8 percent of Photo-Me’s issued share capital (in which holding Serge Crasnianski declared an interest). According to a press release, Tibergest BV has supplied the following supporting statement:
“Serge Crasnianski was a member of the Board of Directors from 1990 to December 2007, sitting as Chief Executive Officer from 1998 to November 2007. During these years, he contributed substantially to the development and success of the company in relation to both product development and profitability. We believe that his sector knowledge, technical expertise and strong relationships with the major clients of the company will benefit both the Board of Directors and the company as a whole. Accordingly, we urge you to vote in favour of the above resolution.”
On the basis that Serge Crasnianski will be returning to the Board as a non-executive director, the Photo-Me Board unanimously recommended to the shareholders to vote in favour of the resolution.