Union Jack Oil plc (AIM: UJO) has undergone a major boardroom overhaul after shareholders overwhelmingly backed all resolutions at a requisitioned general meeting.
As a result, David Bramhill, Joseph O’Farrell and Dr Zac Phillips have been removed from the board with immediate effect, while former directors Craig Howie and John Americanos have returned.
The votes were decisive. Craig Howie received 90.85% support and John Americanos 90.82%, while more than 90% of votes cast backed the removal of each of the outgoing directors.
Howie will become Executive Chairman, with Americanos appointed Executive Director. The company said it will appoint independent non-executive directors as soon as practicable to strengthen board oversight.
Howie said the new board’s immediate priority will be to reduce Union Jack’s central cost base, with particular focus on directors’ remuneration.
He also called for improved investor communication, stronger corporate governance and more disciplined capital allocation across both the company’s assets and corporate activities.
The board changes follow a period of shareholder pressure over the direction and governance of the company and mark a significant shift in Union Jack’s leadership.
