10th Mar 2016 17:13
LONDON (Alliance News) - PetroNeft Resources PLC on Thursday said it will hold an extraordinary general meeting following a requisition made by Natlata Partners Ltd.
Natlata is seeking to remove Non-Executive Chairman David Golder, Chief Executive Dennis Francis and Executive Director David Sanders from the board.
It proposed they would be replaced by Anthony Sacca, David Sturt and Maxim Korobov.
Natlata owns a 29% stake in PetroNeft.
PetroNeft said it will hold the meeting on or before April 18.
PetroNeft added it has engaged with Natlata since the requisition was made in February to try and find a compromise, but nothing has been agreed as yet. It said it remains open to holding talks wit the company.
Shares in PetroNeft closed up 3% at 2.58 pence Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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