Podia sacks FD for gross misconduct

Podia said the dismissal is 'with immediate effect, without compensation and without notice'.

The group's financial controller, Colin Ranger, will report to the board regarding finance matters as an interim measure.

Podia has merchandising agreements with a number of Formula One teams, including Williams BMW, Arrows and Jaguar. Share holders included F1 commentator, Tony Jardine.

The shares are currently suspended at 19p, valueing the company at just over £12m.