Sanderson Design Group board urges vote against shareholder push

London - Sanderson Design Group PLC is requesting shareholders to vote against two resolutions presented by LBV Actio Limited at their upcoming general meeting on October 29th, 2026, according to a press release issued today. LBV Actio Limited, which owns roughly 11.854% of the company's issued ordinary shares, submitted a requisition notice on September 25th, proposing to dismiss Dame Dianne Thompson from the board and replace her with Stephen Brooke, effective immediately.

The board has unanimously opposed both resolutions and plans to vote against them. The board members collectively own about 1.2% of the company's issued shares. They mentioned they plan to start a search for Thompson's replacement in January 2027, as noted in the Nomination Committee meeting minutes from December 2024. This strategy allows for a thorough evaluation of potential candidates and a smooth transition.

The company's profits grew 22% in fiscal year 2026 and 50% in the first half of fiscal year 2027. The board expressed confidence in the company's present strategy and leadership. However, they have doubts about Stephen Brooke's suitability, pointing out that his experience mainly lies in industrial technology, cleantech, water, and energy sectors.

They also question his independence due to his disclosed shareholding in LBV shares. The general meeting is scheduled to take place at 9:00 a.m. on October 29th, 2026, at the offices of DLA Piper UK LLP in London. The deadline for submitting proxy appointments is 9:00 a.m. on October 27th, 2026. Sanderson Design Group is a renowned global design house specializing in luxury interior furnishings, employing around 500 individuals.