Health concerns prompt resignation of Namibian Resources chairperson, CEO
JOHANNESBURG (miningweekly.com) – Aim-listed alluvial diamond mining company Namibian Resources nonexecutive chairperson Allen Sheppard and CEO Tony Carlton have resigned, with effect from March 1, owing to health problems that have prevented either from travelling to the company’s operations in Southern Africa.
Nonexecutive director Brian Moritz would now assume the responsibilities of chairperson, while operational management would continue to be undertaken by executive directors David Johnson and Mike Solomon.
The loans made to the company by Sheppard and Carlton, which were interest free, would not be repaid, but would be converted to ordinary shares without giving rise to a breach of Rule 9 of the City Code on Takeovers and Mergers.
“The board of Namibian would like to thank Allen and Tony for their considerable contribution to the company and wish them well for the future,” the company said in a statement.
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