Small-cap fund managers are watching with interest the fight at listed platform services provider Praemium. A week after delivering 39 per cent EBITDA growth at the half-yearly result, chief executive Michael Ohanessian was abruptly terminated by the board. To say that announcement went down badly with investors would be an understatement, with the stock falling from 44 cents the day before to as low as 32 cents on Wednesday.

But late Wednesday a group of shareholders including Ohanessian, Paradice Investment Management and Australian Ethical requested a general meeting to fire all four remaining directors led by chairman Greg Camm.