15th Oct 2013 14:25
LONDON (Alliance News) - NEOS Resources PLC Tuesday said its Chief Operations Officer has resigned as it moves towards ending its Indian operations entirely.
The global agricultural product supplier said its Chief Operations Officer Ravi Jose has resigned with immediate effect and the company has took on Duncan Keil and Gordon Tainton as non-executive directors.
NEOS said that in line with previous statements it is winding down operations in India towards ceasing operations entirely and expects to receive net proceeds from the liquidation of GBP100,000.
The company said its non-executive Chairman, Michael Moquette, and Chief Executive Officer, Nicholas Myerson, will receive remunerations as they move the company towards closure in India.
The company also said its financial positions remains in line with previous announcements and that a key deal to supply 500 tonnes of cooking oil to a global energy group is expected to be completed by the end of November.
NEOS shares were down 4.8% to 0.381 pence Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
Copyright 2013 Alliance News Limited. All Rights Reserved.
Related Shares:
NEOS.L