VSA Capital Group plc has announced that its Chairman, Mark Steeves, will step down at the conclusion of the company’s upcoming Annual General Meeting (AGM) on 30 September.
VSA Capital Chairman to Step Down After AGM
Mr Steeves, who has served as Chairman during a period of strategic development for the international investment banking and broking firm, will not be standing for re-election as a Director.
In a release on Friday, the company expressed its appreciation for his leadership, stating it “wishes to express its gratitude to Mark for his contributions to the Company during his tenure as Chairman.”
Following his departure, Mark Thompson will take over as Chairman. Thompson, a Director of VSA and associated with major shareholder Drakewood Capital Management, will assume the role immediately after the AGM.
The meeting, to be held at the company’s new office premises on New Broad Street in London, will also provide shareholders the opportunity to ask questions of the Board either in person or by submitting queries in advance.
The transition comes as VSA relocates to its new headquarters and secures financial support for the move through a related party loan agreement with Drakewood.
The shareholder, which holds 19.9 percent of the company’s issued share capital, has provided a £95,715 loan to cover the deposit on the new offices.
The Board, excluding Thompson due to his connection with Drakewood, said the terms of the agreement were “fair and reasonable” for shareholders.
