https://www.engineeringnews.co.za

Edenville reshuffles board as Rukwa talks advance

3rd June 2015

By: Natalie Greve

Creamer Media Contributing Editor Online

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Edenville Energy has reshuffled its board of directors, citing a need to to better reflect the needs of the business going forward, maintain a carefully managed cost base and retain the experience and knowledge of key directors relevant for this stage of the company's development.

The group added that new interest and increasing activity in Tanzania – as the company positioned itself with the Tanzanian government authorities to progress its Rukwa power plant project – had resulted in a need for an “appropriate” board reorganisation.

Consequently, COO and nonexecutive director Mark Pryor, who had extensive knowledge of Edenville's Rukwa coal assets, would step into an executive director position as Edenville's COO.

Edenville stated that, as Pryor’s involvement with Edenville, both in the UK and Tanzania, had increased in recent months, this executive position better reflected his role in driving the business forward. 

Moreover, “to maintain the balance of the board”, executive chairperson Sally Schofield would become nonexecutive chairperson of the company, with a commensurate reduction in fees.

As an additional cost reduction measure, FD Rakesh Patel would step down from the board but would continue to provide financial and accountancy services to the company on a consultancy basis. 

Following the reorganisation, the board would comprise Pryor, Schofield, executive director and CEO Rufus Short, executive director and nonexecutive director Arun Srivastava.

Edenville believed the changes would also also help it to keep fixed costs at an appropriate level while it progressed discussions with potential financial and technical partners for the next phase of its development.

Short was, meanwhile, continuing to lead discussions with a number of parties interested in Rukwa and would advise shareholders once these discussions progressed to an “appropriate” stage.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Aqs image
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 
VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.314 0.366s - 156pq - 2rq
Subscribe Now