THE activist bidding to topple the board at FirstGroup has been forced to resubmit its requisition notice calling for an extraordinary general meeting.

US-based Coast Capital launched a campaign last week calling for the removal of the chief executive and chairman of the Aberdeen-based transport giant, claiming the leadership had presided over a “track record of value destruction and under-performance”.

Coast, the biggest shareholder in FirstGroup with a 9.77% stake, wants to replace six directors with seven of nominees.

FirstGroup said it received on May 17 a replacement requisition notice from Coast, replacing the notice dated May 10 which it said was invalid because it was not signed by the correct holder of Coast’s shares. It said it will write to shareholders regarding the new notice in due course.