28th Feb 2014 13:28
LONDON (Alliance News) - Namibian Resources PLC Friday said that non-executive Chairman Lord Sheppard of Didgemere and Tony Carlton will step down from its board March 1 because health problems mean that neither is able to travel to South Africa where the company has its operations.
In a statement, the diamond mining company said non-executive Director Brian Moritz will become Chairman.
Interest-free loans that Lord Sheppard and Carlton have made to the company won't be repaid and will be converted into shares as soon as possible, it said.
Namibian Resources shares last traded at 2.5 pence.
By Steve McGrath; [email protected]; @SteveMcGrath1
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