A very messy Spotless spill?

Institutional investors in Spotless may believe they have the support of shareholders in proposing to dump chairman Peter Smedley – but it's far from a straightforward situation.

The disgruntled institutional shareholders in Spotless are apparently very close to moving to requisition an extraordinary meeting to get rid of what they perceive to the biggest obstacle to their receiving a bid from Pacific Equity Partners – Spotless’ chairman Peter Smedley. It is an open question, and one that would raise a lot more questions, whether a successful dumping of Smedley would allow them to achieve their objective.


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