logo-loader
Ashley House

Ashley House's Minion steps down to avoid potential conflicts

As three schemes await financial close, the director was advised that conflicts of interest may arise in connection with certain funding solutions being examined

Ashley House - director discussions

One of the co-founders of Ashley House PLC (LON:ASH) has stepped down from the board to preserve good governance.

Stephen Minion, one of the original directors and shareholders of the health and care facility developer, has departed with immediate effect as the company looks to raise funds for three extra care schemes.

Outside of his Ashley House interests, Minion is also chairman and major shareholder in Invescare Limited, a company that has an outstanding loan to Ashley House. 

Last month the Ashley House was hit by legal delays on the three schemes that it was trying to complete before the June financial year end.

Following the announcement by the company last week that the three schemes have still not reached financial close, Minion was advised that conflicts of interest may arise in connection with certain funding solutions being examined and that these potential conflicts are best avoided by his resignation from the Ashley House board. 

“Stephen continues to be a shareholder in Ashley House, he remains fully supportive and will continue to work with the company as a shareholder and through its relationship with Invescare, Wildlife Group and Partnering Health,” the company said.

Wildlife Group, where Minion is chairman and a shareholder, is a potential customer of the F1 Modular business, and Partnering Health, where he is also chairman and shareholder, runs the Hampshire Doctors on Call out of hours service and where Ashley House has a 33.3% stake.

Said Minion: “Clearly I am disappointed to have to step down but the various potential conflicts I have make this the best course of action to preserve good governance.”

Quick facts: Ashley House

Price: £0.05

Market: AIM
Market Cap: £2.82 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Ashley House named herein, including the promotion by the Company of Ashley House in any Content on the Site, the Company receives from said...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Wikileaf prepares to go public after seeing incredible...

Wikileaf Founder and CEO Dan Nelson joined Steve Darling from Proactive Vancouver to discuss the Seattle company that acts as an online cannabis directory. Nelson talks about the beginnings of the company has the explosive growth they have seen.  Nelson also shared with Proactive the big...

5 days, 12 hours ago

2 min read