8th Jun 2015 06:43
LONDON (Alliance News) - Concha PLC Monday said it remains in talks about the potential investment opportunity that it had announced in March, and as part of the process Non-Executive Director Gordon Watson will step down from the Concha board to take the same role on the board of the potential investee.
"We have been cautious in our assessment of various interesting opportunities. During the past several months we have as a team worked on a specific transaction and I have accepted the opportunity to take up a non-executive role with this proposed Concha investee company and as such step down today from my role as a non-executive director of Concha. This is to avoid any possible conflict and ensure the highest level of due process and governance that all stakeholders wish to adhere to," Watson said in a statement.
"Whilst work remains to be done on the proposed investment and no certainty of outcome can be given at this stage, the Concha board shall continue to focus in the weeks ahead to endeavour to achieve the desired outcome for the benefit of our shareholders," Concha Chairman Chris Akers said.
By Steve McGrath; [email protected]; @stevemcgrath1
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