26th May 2016 09:50
LONDON (Alliance News) - Nyota Minerals Ltd on Thursday confirmed the members of its new board following the vote by shareholders to oust the previous directors.
Nyota shareholders voted on Wednesday to remove Chief Executive Richard Chase, Executive Director Michael Langoulant and Non-Executive Director Evan Kirby.
They have been replaced by Jonathan Morley-Kirk as non-executive chairman, Andrew Wright as chief executive officer and Sergey Budkin as non-executive director.
Numerous Nyota shareholders had filed requests earlier this year to remove the board. In April, Nyota said it plans to try to rebuild trust with its shareholders by allowing them to consider the appointment of a new board at the AGM, having said shareholder activism had prevented the previous board from pursuing any new opportunities.
Shares in Nyota were down 9.6% to 0.10 pence Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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