3rd Jan 2019 10:51
LONDON (Alliance News) - Troubled miner Cradle Arc PLC on Thursday said Non-Executive Director Roger Williams will be leaving its board at the end of January.
Williams, Cradle Arc said, is departing to focus on an executive role at another company.
Chief Executive Kevin van Wouw said: "We would like to acknowledge our appreciation of the services of Roger and the valuable contribution he has made to the company and wish him all the best in his future endeavours."
In mid-December, Cradle Arc warned it could become insolvent if it does not secure funding in the near future.
The High Court of Botswana has ordered an accountant to report on Cradle Arc's financial position, as well as to present a business plan for the company to the court.
Two days prior, Cradle Arc reported it had requested to the court of Botswana its subsidiary Leboam Holdings Ltd, its holding company for the Mowana copper mine, be put into provisional liquidation.
Cradle Arc, whose shares are currently suspended on AIM due to its financial issues, did not on Thursday provide any new information on its financial position.