13th Feb 2019 09:51
LONDON (Alliance News) - Crusader Resources Ltd on Wednesday said shareholders are looking to remove both Managing Director Marcus Engelbrecht and Non-Executive Chair Andrew Vickerman.
Shareholders representing 5.1% of the firm's share capital are also looking to have Brett Clark, David Sanders, and Carl Luttig installed as directors.
Crusader has thus convened a shareholder meeting in March 22 in Melbourne, Australia.
The company has urged shareholders to reject all of the motions, saying the current board are are in "advanced" talks over potential funding from its major shareholder. If new directors are appointed, this will not go ahead.
At the end of January, Crusader said it will be holding a meeting on February 28 to approve its cancellation from London's AIM Market. Shares are currently suspended from trading.