Tuesday is D-Day for Antares Energy executive chairman James Cruickshank . His 7 per cent shareholder, Lone Star Value , has him in its sights over the company’s governance and has requisitioned a meeting to seek an overhaul of the board. That will take place on Tuesday afternoon in Perth.

Lone Star is dark on Cruickshank over 125,000 Antares shares he bought between June 18 and June 24 last year. On June 26, the company advised the market it had received a $300 million offer for its Texas assets – which sent the share price 71 per cent northward. Then the deal fell over and, citing confidentiality, Cruickshank refused to disclose the identity of the bidder.