Leicester to hold EGM

Leicester City have called a press conference for later this morning after announcing to the Stock Exchange it is to hold an Extraordinary General Meeting.

Former director Gilbert Kinch, along with Denis Cassidy and Freddie Fletcher, are behind a move to oust and replace current non-executive directors Sir Rodney Walker, Greg Clarke, John Elsom, Martin George, Bill Shooter and Brigid Simmonds.

The EGM will be held at the Walkers Stadium on July 11, and after suffering relegation to the Nationwide League last season, this action is the last thing the board wanted.

Walker told shareholders: ‘‘Following the Extraordinary General Meeting on December 22 1999, we believed that with a strong and unified board we had put behind us the problems of the past.

‘‘However, Gilbert Kinch, one of the main protagonists in the events leading up to the Extraordinary Meeting in December 1999, has recently acquired with his family an interest of 10.1% of the company’s issued shares capital thereby enabling them to requisition an Extraordinary General Meeting at the company’s cost.

‘‘The requisition seeks the removal of all six of the non-executive directors on the current board and the appointment of three new directors - Gilbert Kinch, Denis Cassidy and Freddie Fletcher.

‘‘The board does not understand how uncertainty created by the Extraordinary General Meeting could assist the football management, team and staff.’’

Cassidy was formerly a non-executive director of Newcastle United while Fletcher was chief executive at St James’ Park before resigning in 2000.