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SolGold PLC - Brisbane, Australia-based company which develops copper-gold deposits in Ecuador - Says Chair Liam Twigger, Non-Executive Director Brian Moller and director Jason Ward will not stand for re-election at annual general meeting next month. Chief Executive Officer Keith Marshall requests to be be put forward for re-election. Notes shareholder BHP Group Ltd has been actively canvassing certain shareholders and members of the board seeking to persuade the board that each director should stand for re-election at the upcoming AGM.
Twigger says: "The majority of my fellow directors believe that putting the entire board up for re-election next month would further destabilise your company, undermine the advanced process to secure a new CEO and otherwise is not in the interests of all Shareholders.
"I strongly believe that it is in interests of all shareholders for the board to be comprised of directors with a cross-section of views and skills who can collaborate to ensure that the interests of all shareholders, large and small, are represented and looked after at the board level and not just the interests of certain large and vocal shareholders seeking undue influence at the expense of a control premium you should enjoy."
Current stock price: 25.60 pence
Year-to-date change: down 26%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
