Multi-millionaire and former pipe fitter Paul Davidson is to join the board of troubled golf and country clubs operator Clubhaus.

Mr Davidson, 46, a shareholder who is currently on holiday in Barbados, is to become a non-executive director.

The announcement follows weeks of controversy surrounding Clubhaus. Last month he vowed to call a meeting fellow shareholders in a bid to overthrow its management team.

Mr Davidson, of Tytherington, Cheshire, is the man behind Oystertec, Galileo Innovation and a host of other companies.

He has a significant stake in Clubhaus and became enraged after seeing its shares plummet from 104p to around 3p.

Stability

He said he was delighted to join the Clubhaus board and added: ''It is a company with significant potential. My arrival comes at a time when the company requires stability.

''The board is set to focus on a clear strategy to deliver value to shareholders.''

Meanwhile, another significant shareholder, former newspaper tycoon Eddie Shah, is still demanding an investigation by the Department of Trade into Clubhaus's financial affairs.

He said: ''It's a question of tactics. I am still pushing for the DTI to investigate. I prefer to stay on the outside and not have my wings clipped.

''Paul is by nature a person who will try to resolve a situation from within. There is no animosity between us.''

Clubhaus chairman Robert Bourne said: ''These are challenging times, but we are determined to find an outcome that is satisfactory to all stakeholders and that gives the company a good footing for the future.

''Assuming the financial negotiations with our stakeholders can be resolved satisfactorily, we believe the company has a strong future.''

Tweet