JOHANNESBURG (miningweekly.com) – Coal developer Firestone Energy on Friday announced several board changes, including the resignation of deputy chairperson David Perkins.
Perkins was appointed to the board in January 2011.
Consequently, ASX-listed Waterberg Coal Company, which is pursuing a hostile takeover of Firestone, withdrew its s249D requisition to convene a shareholders' meeting seeking the removal of Perkins as a director.
Other board members who resigned are Eumeralla Resources and Black Star Petroleum director Jack James and Frankland River Olive Company acting MD and Black Star Petroleum director Oren Zohar, who were appointed in January following an investment in Firestone by Waterberg Coal Company subsidiary, Ariona.
In their place Firestone had appointed Brian McMaster and Stephen Miller, as well as Firestone CEO David Knox.
Miller has 25 years’ experience investing and executing corporate finance, and mergers and acquisitionsin the resources sector, while McMaster is a chartered accountant and has about 20 years’ experience in corporate reconstruction and turnaround/performance improvement.
"We are delighted to have Brian and Stephen join the board with their wealth of experience and to have David Knox, our CEO, now join the board as a director. We look forward to working with them in the future," Firestone chairperson Tim Tebeila said in a statement.