Formal demand for Salmond appointment

The biggest shareholder in Johnston Press, publishers of The Scotsman, has formally called for EX-SNP leader Alex Salmond to be appointed to the board and for two directors to be removed.

Christen Ager-hanssen, whose Custos Group holds a 20 per cent stake in Johnston Press, has written to request a general meeting where shareholders will vote on the proposed removal of chairwoman Camilla Rhodes and non-executive director Michael Butterworth.

The Norwegian activist investor wants to replace them with Mr Salmond and Steve Auckland, who previously ran regional newspaper group Local World.

In the meantime, accord- ing to Custos Johnston Press should also not be allowed to appoint any new directors before the shareholder meeting.

Johnston Press, which also owns the Edinburgh Evening News, Scotland On Sunday, i newspaper, the Yorkshire Post and some 200 local titles, said it was “consulting with its advisers” and will update on the timing of the meeting.

The firm now has 21 days to send shareholders notice of a forthcoming meeting.

Mr Ager-hanssen, who owns the Swedish version of the Metro free newspaper, had already attempted to appoint four directors to Johnston’s board last month, but the move was blocked by debt agreements stipulating that only existing board members can approve new director appointments.