Vestas says scrutiny call unnecessary

Wind turbine giant Vestas is facing a call to hire an independent auditor to scrutinise a range of issues connected with the company over the last few years.

Deminor Recovery Services – a Belgium-based company specialising in investor recovery actions – wants shareholders at the Danish group’s forthcoming annual general meeting (AGM) to approve the scrutiny motion.

Vestas says it will urge the AGM on 21 March to reject the motion, claiming it is unnecessary.

Deminor lists a wide range of issues it wants probed, including the implementation of accounting policies, the circumstances surrounding profits warnings issued by Vestas, and “whether the company has been over-optimistic about its revenue guidance”.

The motion, published by Vestas on its website, also asks…

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