West African Minerals Share News (WAFM)

LONDON (Alliance News) - West African Minerals Corp Tuesday said the requisition from shareholder Beaufort Nominees Ltd to convene a general meeting to vote on proposed changes to the board has been withdrawn after the company agreed to reshuffle the board.

In March, West African Minerals said that shareholder Panetta Partners Ltd's solicitors wrote to it in a letter that also included a request from fellow shareholder Beaufort that the company organise a general meeting for shareholders to vote on the removal of Managing Director Anton Mauve and Non-Executive Director Gerard Holden from the board. The letter also requested the appointment of Willy Simon, Sanjiv Sangar and Andrew Gutmann to the board.

On Tuesday, West African Minerals said the requisition had been withdrawn after Mauve agreed to step down as managing director of the company, but he will keep his "operational role" as president, said the company.

Gutmann, who is head of capital markets at Beaufort International Associates Ltd, and Simon were also appointed to the West African Mineral board as non-executive directors with immediate effect, joining existing Non-Executives Gerald Holden and James Mellon. Brad Mills remains as chairman of the company. West African Minerals did not release any information regarding Sangar.

West African Mineral shares were untraded on Tuesday morning, last trading at 2.625 pence per share.

By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance

Copyright 2015 Alliance News Limited. All Rights Reserved.