Argos Resources Ltd - oil and gas exploration in Falkland Islands - Dennis Carlton, Christopher Fleming and James Ragg all resign as non-executive directors immediately, while the executive directors - Executive Chair Ian Thomson, Managing Director John Hogan and Finance Director Andrew Irvine - will remain on the board while the company is wound up. The date of a general meeting of shareholders to approve this will be announced next week, Argos says. Shares have been suspended from trading on AIM in London since the start of July and will remain suspended until they are cancelled, it says.
Argos last Friday had extended to September 30 the long stop date for the sale of its PL001 production licence interests in the North Falkland Basin to JHI Associates Inc. Once that sale is completed, the sold asset of Argos will be a shareholding in JHI.
By Tom Waite, Alliance News editor
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