Boxing star throws weight behind oil firm rebels
FORMER world boxing champion Amir Khan has waded into a shareholder battle over the future of a North Sea oil and gas company.
Khan has thrown his weight behind a group of rebel investors, calling themselves the Pershing Nominees, attempting to boot out the entire board of Reabold Resources.
In a surprise intervention posted on the rebels’ website, the former I’m A Celebrity... contestant has said in a video he supports Kamran Sattar, chief executive of investment firm Portillion Capital.
Sattar is one of four business people Pershing has lined up to replace the current board directors at a meeting on Thursday.
In the video, Khan said: ‘Hi, Reabold shareholders. I just want to say that Kamran is one person who I trust and who I always believe in. And I also want to say to you guys to vote for Kamran. He’s one person that we need on our team.’
Khan, 35, is not known to be an investor in Reabold and it is not clear how he knows Sattar.
Pershing Nominees, which controls almost 7 per cent of shares, claims there have been historic management failings. It insists the company ‘must realise greater value from its projects’, especially the huge West Newton oil and gas discovery in the Humber.
Reabold’s management have urged shareholders to vote against Pershing and slammed Khan’s attempt to deliver a knockout blow.
A Reabold spokesman said: ‘It is all very well Amir Khan, the retired boxer and former I’m A Celebrity... contestant, supporting Kamran.
‘But unfortunately for him, two of the world’s largest institutional advisory firms, ISS and Glass Lewis, have both recommended their clients vote against his election to the Reabold board.’