LONDON (Alliance News) - Tungsten Corporation PLC said Friday it received a letter from certain shareholders requisitioning a general meeting to remove certain senior management members.
The requisition proposed seeks to depose Chairman Nicholas Parker, Chief Executive Officer Richard Hurwitz and Non-Executive Directors Ian Wheeler and David Benello from the board.
The requisition also wants Anthony Bromovsky and Duncan Goldie-Morrison appointed to the board.
"The board of directors regrets that this action has been taken at a time when Tungsten has reached an inflection point and considers the requisition to be unwelcome and unnecessary," the company said.
Tungsten shares closed down 4.0% at 52.01 pence each.