E-prime activists line up new chiefs

SHAREHOLDER activists trying to snatch boardroom control of E-primefinancial will tell investors they have struck deals with two men willing to take on the roles of chief executive and finance director at the internet cash shell.

The proposed appointments are seen as crucial to attempts by Recovery Partners to persuade shareholders to support its plan to oust three of E-primefinancial's four existing directors and replace them with four of its own nominees, including former Liffe chairman Jack Wigglesworth.

Recovery Partners said Robert Spearpoint, who has managed a string of technology companies, including the Teleserve business acquired recently by Cable & Wireless, has agreed to become E-primefinancial's chief executive if the boardroom coup succeeds. John Burdett, who has worked with companies such as Whitbread, Laporte and Norsk Data, will become finance director.

Recovery Partners has requisitioned an extraordinary meeting to vote on the changes with the support of shareholders holding 17% of the stock.