60% of Payzone shareholders call for EGM to remove two executives

UP TO 60% of shareholders in Payzone — the Anglo-Irish electronics payment solutions firm — have called for the firm’s board of directors to hold an extraordinary general meeting to approve the removal of the chief executive and chief financial officer, John Nagle and John Williamson.

The company made this claim via a stock exchange announcement, yesterday.

Its shareholders are expected to be contacted within the next 21 days and the EGM is expected to take place early next month. The Payzone board has also received notice from controllers of 10% of the company’s share capital — basically Mr Nagle, himself — calling for an EGM for the sole purpose of removing chairman Bob Thian from the board of directors.