Eclairs Group and Proxima Capital Group Inc

Eclairs Group Ltd: The vote, that passed despite JKX barring two of its top investors including Eclairs Group from voting, effectively reduces the size of JKX board and appoints Proxima nominees to top positions, according to Euro News. The change in management could represent a new direction for the company, which has been struggling with oil prices that have fallen to around $30 a barrel and political tensions between its two main markets Russia and Ukraine. Shareholders voted in favour of all the proposals put forth by Proxima Capital Group Inc in an investor meeting, succeeding where Eclairs Group Ltd, the company largest shareholder, had failed in 2013. Proxima called for a shake-up in December, saying there had been a destruction of value for shareholders due to the erstwhile board failure to manage the business well. JKX, which has seen its shares tumble more than 90 percent over the past five years, said earlier on Thursday that its Finance Director Cynthia Dubin and Non-Executive Director Dipesh Shah had also quit. Chairman Nigel Moore, Chief Executive Paul Davies and five other members resigned, effective immediately, after the meeting, JKX said in a statement. (news.financializer.com). As reported in the news.