Consumer

Ricardo Board Rejects Science Group’s Takeover Move

Fri 28 Mar 25, 07:45 AM | Team Kalkine

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Science Group Increases Stake: Science Group plc has acquired a 16.2% stake in Ricardo and is pushing for boardroom changes, including the removal of Chairman Mark Clare.

Board’s Firm Stance: Ricardo’s Board unanimously rejected Science Group’s demands, citing concerns over undue influence without premium payment.

Strategic Growth & Financial Recovery: Despite market challenges, Ricardo continues to execute its transformation strategy, delivering significant order intake and operational improvements.

Ricardo plc’s (LSE:RCDO) Board has strongly rejected demands from Science Group plc to remove Chairman Mark Clare, amid an ongoing power struggle as Science Group continues to increase its stake in the company. Currently holding 16.2% of Ricardo’s issued share capital, Science Group has been vocal in its criticism of the company’s leadership and has threatened to call a general meeting to push for board changes.

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