22nd Apr 2016 17:05
LONDON (Alliance News) - Agriterra Ltd on Friday said Phil Edmonds stood down as chairman of the AIM-listed agricultural company to spend more time on charitable activities in Zambia.
In a statement, Agriterra said it expects to formalise the appointment of a candidate already identified to replace Edmonds in the coming days.
"Having recently reached the egregious pensionable age, my priorities are inevitably changing. I now want to devote more time towards charitable works generally and particularly in my home country of Zambia where I am involved in developing a provincial school for over 450 children. I do however remain fully convinced by the Agriterra vision and as a significant shareholder am fully supportive of the management team that we now have in place," Edmonds said in a statement.
Agriterra shares closed up 16% at 0.290 pence on Friday.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Agriterra Ld