SHAREHOLDERS in a Perth-based company which operates a nationwide chain of caravan parks are being urged to fight moves to throw out all but one of its board members.

Aspen Group chairman Reg Gillard will plead with investors to retain himself, managing director Gavin Hawkins and director Terry Budge when investors vote at a crisis meeting on March 24.

The meeting will be held in The Silver Room at the Novotel Perth Langley Hotel beginning at 9am (WST).

The parent company of the successful Aspen Parks division was thrown into turmoil after shareholder and Perth-based wealth management business Entrust Funds Management requisitioned a meeting of shareholders with resolutions to remove the trio and reinstate former managing director Angelo Del Borrello, who was sacked last year.

Entrust also wants Richard Colless to be non-executive chairman and its funds management managing director David Franklyn to be added to the board.

But in a letter to shareholders, Mr Gillard urged caution over what he called the "hostile action".

He wrote: "I am deeply concerned that the passing of any of these resolutions could significantly destabilise the senior executive team.

"The board remains committed to improving shareholder value by executing its strategy for growth. We are already seeing positive results."

Entrust reportedly said it has been a long term supporter of the Aspen Group, and its underlying funds management business. It stressed its action was not about seeking control but about restoring value.

But in a joint statement, the three threatened board members said it appeared Entrust was  "opportunistically looking to gain control of the board and the company with a modest investment and without paying a premium".