(Alliance News) - Petropavlovsk PLC said on Tuesday that non-executive director Bektas Mukazhanov has resigned with immediate effect.
Mukazhanov was appointed in July 2018 and was previously investment advisor at Fincraft Holdings Ltd, Petropavlovsk's major shareholder.
The company said the sale of Fincraft Holdings Ltd entire share capital to Limited Liability Company Research and Production Association Altair led to Mukazhanov's resignation.
Chief Exeuctive Pavel Maslovskiy said: "I would personally like to thank Mukazhanov for his informed and constructive contribution to the board during his period as a director. I would also like to extend my thanks, and that of the board, to Kenges Rakishev, and to Fincraft, for their valued support to the company. The board welcomes our new major shareholder and looks forward to engaging with them and to establishing a constructive relationship."
Shares in Petropavlovsk closed 0.6% lower at 10.00 pence each in London.