Gresham directors’ fate known today

GRESHAM HOTELS will announce the result of a poll held to decide the fate of four of its directors.

Red Sea Hotels, the Israeli group that owns 28% of Gresham Hotels, is expected to announce this morning that it has succeeded in restructuring the board.

After a noisy two-hour extraordinary general meeting yesterday, Red Sea is believed to be confident that it has secured the necessary votes to oust the chairman and remaining non-executive directors.