1st Mar 2019 10:35
LONDON (Alliance News) - Crusader Resources PLC on Friday announced the appointment of two new directors, as its de-listing from the London Stock Exchange nears.
Last week, Crusader said Chair Andrew Vickerman and Managing Director Marcus Engelbrecht would be leaving at the end of February following the company's annual general meeting, and they have now done so.
Stephen Copulos has joined as non-executive chair and Andrew Richards as executive director, as planned. Both will take a "reduced" compensation due to the company's financial position.
Copulos is Crusader's largest shareholder has was non-executive chair between March 2013 and April 2018.
Copulos Group, related to Copulos, has agreed to underwrite a USD4.2 million rights issue, covering USD2.5 million of it, as long as Crusader leaves AIM, which it will do on Friday next week. Shares were currently suspended from trading.