20th May 2015 07:58
LONDON (Alliance News) - Base Resources Ltd shares fell on Wednesday after it said Chairman Andrew King and Company Secretary Winton Willesee have both retired from the company with immediate effect.
Base shares were down 7.2% to 6.38 pence per share on Wednesday morning.
The retirements come as part of the "ongoing evolution of Base as the company moves into its next phase of development", it said. Both King and Willesee have been part of Base since before its initial listing in 2008.
Replacing King as chairman is Keith Spence, who was appointed to the Base board in February. Spence has over 30 years of experience in the oil and gas industry with Royal Dutch Shell PLC and Woodside Petroleum, from which he retired from in 2008.
Spence is currently non-executive chairman of Geodynamics Ltd as well as a non-executive director of Oil Search Ltd and Independence Group NL.
Chadwick Poletti, Base's group legal counsel, has been appointed company secretary.
By Joshua Warner; [email protected]; @JoshAlliance
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