(Alliance News) - Hardy Oil & Gas PLC on Wednesday appointed Michael Bretherton as non-executive chair and said that Alasdair Locke and Peter Milne have resigned as non-executive directors.
Hardy Oil & Gas shares were trading 15% lower in London at 4.82 pence each on Wednesday.
On January 21, the mandatory offer from Blake Holdings Ltd, which had become unconditional in all regards, closed. Following the offer, Blake disclosed that it has interest in approximately 86% of the company's issued share capital.
On January 8, non-executive directors Locke and Milne had announced their intention to resign following the appointment of Bretherton, or any other director proposed by Blake.
"The board has today appointed Michael Bretherton as a non-executive director and Alasdair Locke and Peter Milne have now resigned from the board as planned," the company said.
Bretherton is also director of Blake and of ORA Ltd and he is the chief executive officer of Sarossa PLC and is chair of Adams PLC, the company noted.
The company also said it has given a notice to cancel the standard listing of the Hardy shares from London Stock Exchange. It is anticipated that delisting will occur on February 24.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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