SolGold to appoint new directors in board overhaul

Fri, 4th Sep 2020

Mining company SolGold said it was in talks with new potential directors as it pushes through with changes to its board. The company had earlier this month announced that it was changing its management structure, function and remuneration as it moved towards full compliance with the provisions of the UK Corporate Governance Code. 'The company is currently in dialogue with a number of potential independent non-executive director candidates, and a further update in this regard will be made in due course,' SolGold said. Current non-executive directors Liam Twigger, Brian Moller and James Clare had agreed to the cancellation of their company options. The remaining directors -- Nicholas Mather, Jason Ward and Robert Weinberg -- had retained their option holdings. Weinberg had indicated his intention to retire at the company's 2020 AGM, after which his options would expire after 90 days. SolGold also said that chairman Liam Twigger had stepped down as chairman of its audit and risk committee, with Moller appointed acting head of the committee on an interim basis. 'It is the board's intention to reconstitute the membership of the audit and risk committee upon the appointment of further independent non-executive directors, as part of the process of moving to compliance with the UK Corporate Governance Code,' the company said. 'Similarly, the board will also reconsider the membership of the remuneration committee and nominations committee, as further independent non-executive directors are appointed to the board.' Story provided by StockMarketWire.com

FTSE 100 Latest
Value5,571.49
Change-10.26