16th May 2016 12:25
LONDON (Alliance News) - MirLand Development Corp, the AIM-listed property developer in Russia, said Nigel Wright stepped down as chairman, after he requested the withdrawal of a proposal for his re-election at the company's annual meeting of shareholders earlier on Monday.
In a statement, MirLand Development said Wright stood down for "personal reasons" and that he will be replaced by Saydam Salaheddin, an existing independent non-executive director.
A proposal to re-elect Eliezer Fishman as a director was also withdrawn, MirLand said.
Shares in MirLand were untraded in London on Monday. The stock closed at 29.00 pence on Friday.
By Samuel Agini; [email protected]; @samuelagini
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