19th Sep 2013 07:22
LONDON (Alliance News) - EMED Mining Public Ltd Thursday said its founder and chief executive Harry Anagnostaras-Adams has resigned and will step down from the board immediately because he believes the company needs a new leader to take it into its next phase of developing its assets and starting production.
Anagnostaras-Adams will remain a significant shareholder in the company, and also stay as Chairman of affiliate Kefi Minerals to focus on Kefi's development.
Rod Halliday, current CEO of EMED Mining subsidiary EMED Tartessus, has been appointed interim CEO while it looks for a full-time successor, the company said in a statement.
"As the company moves into a phase of development and production, I have taken the decision to step down to allow the appointment of a new CEO with a skill set more appropriate to the future role," Anagnostaras-Adams said in the statement.
The company's shares were down 7.5% at 7.75 pence early Thursday, one of the biggest declines on the AIM market.
By Steve McGrath; [email protected]; @SteveMcGrath1
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