Plus Markets is facing a shareholder revolt calling for the dismissal of chairman Giles Vardy and the re-instatement of founder Simon Brickles to the board of the embattled company.
Amara Dhari Investments, a Middle Eastern syndicate which took a 17% stake in the AIM-listed stock exchange in September 2009, has called an extraordinary general meeting to vote on the resolutions.
The rebellion follows a year of turmoil at the company, which has seen the exit of Brickles and the institution of an aggressive cost cutting programme that has seen headcount and technology expenditure slashed under Vardy.
Plus says it will fight the motion and will send out a circular setting out the resolutions and convening a meeting of shareholders to vote on the move within the next 21 days.