Millennium chairman resigns

Resignation follows request from major shareholder to hold EGM.

Millennium Services Group chairman Peter Anderson has resigned following a request from a major shareholder to hold an extraordinary general meeting to remove him from the board.

Board members Sally McCutchan and Stephen Williams have also resigned as directors, effective 3 October 2018.

On 2 October, Tomi-Sasha Holdings, a major shareholder with 12.7 per cent, called for an EGM to remove Anderson from the board under section 249D of the Corporations Act, which requires companies to hold general meetings if requested by shareholders with more than 5 per cent ownership.

In a statement to the ASX, Millennium said Anderson had resigned, effective immediately “in the interests of maintaining board stability, minimising unnecessary disruptions and avoiding uncertainty and costs associated with an EGM.”

Consequently, McCutchan and Williams also resigned. Following the resignations, Tomi-Sasha Holdings withdrew its EGM request.

Millennium has since appointed Roger Smeed as interim chairman of the company. Smeed, who was previously chairman of Millennium hi-tech , which merged into the listed Millennium Services Group company, will offer himself for election as director at Millennium’s upcoming annual general meeting. Subject to shareholder approval of his election, Smeed will continue in the role of chairman after the close of the AGM.

Royce Galea has also been appointed executive director as part of the company’s board renewal process. Galea has more than 30 years’ experience in the cleaning industry, in particular major retail cleaning. He is director of cleaning operations for the Millennium Group. Galea was the joint founder of Millennium Hi-Tech Group, prior to it becoming part of the Millennium Services Group Limited.

Established in 2003, Millennium HiTech provided cleaning, security and facilities management services to major shopping centres, commercial and state and local government buildings in NSW, the ACT and South Australia.

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