UPDATE: Petropavlovsk Director Musakhanov Resigns After Aeon Disposal

(Alliance News) - Petropavlovsk PLC on Wednesday said Mirzaaziz Musakhanov has resigned from his role of non-executive director after Aeon Mining Ltd sold its entire stake in Petropavlovsk.

Musakhanov joined the gold miner in October as an appointee of Aeon Mining Ltd which at the the time was the largest shareholder in Petropavlovsk. However, earlier on Wednesday Aeon disposed of its 28% stake in Petropavlovsk, leaving it with a holding below the notifiable threshold. Therefore, Musakhanov resigned.

Shares in London-based Petropavlovsk closed 2.5% lower at 17.10 pence each on Wednesday in London.

By Ife Taiwo; ifetaiwo@alliancenews.com

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