An amazing turn of events has been released today to the watchers of the Vega plus. Details listed below:
Joint Press Release from Sinclair Research Ltd, Paul Andrews and Chris Smith – 27th April 2018
We wish it to be known that three of the four shareholders in the company Retro Computers Ltd, (who have a combined shareholding of 75%) those three shareholders being; Sinclair Research Ltd, Paul Andrews, and Chris Smith, have instructed the current directors of Retro Computers Ltd, today Friday the 27th of April 2018, to convene a shareholders meeting at the earliest possible date with two resolutions proposed, that being the removal of the existing directors, and the replacement of those directors with one of the choice of the majority of shareholders.
We have not taken this decision lightly, and it is taken in full consideration of the events and knowledge of the past two years of control of Retro Computers Ltd under the existing directors.
We are making this press release in the hope that the existing directors will listen to the request of 75% of the companies’ shareholders and expedite this request with immediate effect.
Paul Andrews, Sinclair Research Ltd, Chris Smith (Shareholders of Retro Computers Ltd)
(NB: Contrary to the record at Companies House Sinclair Research Ltd is not a current director of Retro Computers Ltd)
So what does this mean? In short due to the on going farce that is the vega plus production (or lack of) for the last 2 years, the shareholders have given the current directors 28 days to hold a formal meeting to discuss leadership, with a view to replacing the management team.
Add to this the Indiegogo statement and it’s increasing looking like times up for the current management team.
As Paul Andrews and Chris Smith are 50% shareholders in Retro Computers Ltd and have successfully released the C64 to both backers and retail, it would be expected they will implement their management team to bring the beleaguered console to fruition.
That time can’t come soon enough, for all remaining backers who feel the hands have been in the till long enough!