Gulf Keystone rejects M&G board candidates GKP said it that its new chairman Simon Murray and nominations committee chairman, Field Marshal Lord Guthrie, had yesterday met with representatives of the M&G Recovery Fund, a 5.1pc shareholder in the Aim-listed group, and that its nominations committee had conducted interviews with all of the directors proposed by the investor except for Jeremy Asher. GKP also said that Mr Asher, a former non-executive director of the group who was ousted in 2010, would not be independent because he holds a stake of some 1.71pc in the explorer and added that it would be "inappropriate to reappoint to the board an individual who has previously been a disruptive presence on the board." That prompted the fund manager to immediately hit back and claim that its aim was "purely to strengthen corporate governance at GKP." "We reaffirm our intention to vote for the four independent candidates we have nominated, believing them to have the relevant experience and knowledge to represent the interests of all shareholders," M&G said. M&G is not seeking representation on the board of GKP, nor has any wish to interfere with its operations. But we do want the election of truly independent non-executive directors who will represent the interests of all shareholders. Mr Asher added that his "commitment to shareholders is to help our company realise the fullest possible value of its assets and to continue capitalising on the relationships and technical knowledge developed by our management team." Following the meeting with Mr Murray yesterday, M&G also appeared to call into question the independence of the former chair of Glencore and ex French Foreign Legionnaire, who was appointed GKP chairman earlier this month. "It is vital that the new chairman is truly independent," M&G said. A reward of share options would be contrary to this. But a GKP spokeman said Mr Murray would not be receiving options and would only be paid an annual fee.