Astaire ejects former chief Andrew Monk from meeting

Andrew Monk, the former chief executive of Astaire Securities, was fuming today after he was turfed out of the stockbroker's annual meeting.

Security guards ensured Monk, who is the fourth-largest shareholder in the troubled broker, did not get into the meeting at Hanover Square.

Astaire employed a technicality — Monk's shares are held in a nominee account — to avoid facing questions from the former boss.

Monk said he had intended to ask directors about their strategy for returning cash to investors.

The shares have slumped from 13p to 1p.

"It is pretty pathetic," said Monk. "They are being disgraceful and they know it."

Astaire bought Blue Oar Securities this year and then tried to buy Hoodless Brennan.

It later uncovered a hole in the accounts of a subsidiary.

Monk said: "The directors have been totally irresponsible and mismanaged the business."

Astraire said the meeting is only for direct shareholders.

A spokesman said: "It's just a shame from his point of view that he has not got his paper work together in time."