LONDON (Alliance News) - West African Minerals Corp PLC Wednesday said two major shareholders are requesting the removal of Managing Director Anton Mauve and Non-Executive Director Gerard Holden from the board.
In a statement, West African Minerals said it has received a letter from solicitors acting on behalf of Panetta Partners Ltd, which includes a written requisition from Beaufort Nominees Ltd, requesting a general meeting to consider the removal of Mauve and Holden and the appointment of Willy Simon, Sanjiv Sangar and Andrew Gutmann.
According to the company, the letter said that Beaufort owns 31% of the company, while Panetta owns just under half of that, together making a 44.5% stake in West African Minerals.
The company said it is reviewing the terms of the letter and will seek further clarification from Beaufort and Panetta.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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