24th Jun 2019 10:11
(Alliance News) - Regency Mines PLC on Monday announced a number of significant board changes, including the appointment of a new chair and chief executive.
Shares in exploration and development firm Regency Mines were up 33% at 0.080 pence in morning trade.
Nigel Burton has been made non-executive chair. Burton holds the same position at Remote Monitored Systems PLC, and is also non-executive director at Digitalbox PLC and Tau Capital PLC. He spent 15 years as chief financial officer of various companies, including Management Resource Solutions PLC.
Moreover, Regency Mines Executive Director Scott Kaintz has also been made chief executive officer, and will hold both roles.
Further, Regency Mines has appointed Ewen Ainsworth, the executive chair of Nostra Terra Oil & Gas Co PLC, as an independent non-executive director.
An existing non-executive director at Regency Mines, Edmund Bugnosen, resigns from the board but will be retained as a consultant.
"Following these directorate changes the reconstituted Regency board of directors will consist of CEO & Executive Director Scott Kaintz, Non-Executive Chair Nigel Burton, and Non-Executive Directors Ewen Ainsworth and Andrew Bell. Ainsworth will become chair of the audit committee and will assist in providing oversight of the financial affairs of the company. The board anticipates that additional expansion of the executive team will be under future consideration," said Regency Mines.
Kaintz said: "Some time in the making, these board changes constitute the next of several steps placing Regency on a sustainable long-term development pathway. We look forward to further announcements on these developments in due course."
On Tuesday last week, the company announced that White Car Ltd, in which Regency Mines subsidiary Esteq Ltd is invested, had entered voluntary liquidation.
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