A fight has broken out for control of Mondas, the investment banking technology provider, after its ousted chief executive appealed to shareholders to reinstate him. Any reinstatement would trigger the resignations of the remaining board members.

Tim Simon, who was removed by the board as chairman and chief executive two months ago, sent a circular to Mondas shareholders last week. In it, he canvassed for support for re-election as chief executive which would be decided by a vote at Friday's annual general meeting.