Riddle of missing Mean Fiddler boss

OUSTED Mean Fiddler chief executive Dean James went missing hours before a £24.7m share sale planned by the firm, which meant the deal had to be pulled.

James' disappearance on the afternoon and evening of October 4 scuppered the planned placing because he should have been at broker Evolution Securities to sign off the deal that night.

An Evolution source confirmed James had attended a meeting there that morning, but by mid-afternoon was nowhere to be found and was not answering calls.

A Mean Fiddler spokesman said: 'The first we knew of any problems was on Monday where he was nowhere to be seen.'

James lasted just five days as boss of Mean Fiddler. The news adds another twist to speculation over why his tenure at the top was so short.

Earlier reports suggested James had been removed because he had been causing problems with staff, including festivals boss Melvin Benn. James was not available for comment yesterday.

Irish music promoter Denis Desmond, who is a 24.3% shareholder, is understood to want to buy the firm.

It would have seen founder Vince Power disperse his 35% stake across a number of City banks, making it more difficult to take over the company. Power is believed to have offered to sell Desmond's stake to the same banks - an offer that has been declined to date.

Mean Fiddler shares were unchanged last night at 45p.