- Flexible energy generation company Plutus Powergen said it had received a notice from chief operating officer Paul Lazarevic alleging the company had breached the terms of agreements with the company.

Plutus Powergen said its board 'strongly' believed that no such breach had occurred. The claim related to the terms of his director service agreement and/or consultancy agreement.

Lazarevic had stated that he considered that he had ceased to be a director of Plutus Powergen with immediate effect, the company said.

Plutus Powergen said his director's service contract and consultancy agreement required that he gave the company six months prior written notice of termination.

'The company has received no such notice,' Plutus Powergen said.

'The company is taking advice as to what steps it may take (including taking legal action) against Mr Lazarevic to protect the interests of the company and its shareholders,' it added.

'The company will make further announcements in due course.'

At 9:33am: [LON:PPG] Plutus Powergen Plc share price was 0p at 0.13p

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