29 Aug 2017 16:31
29 August 2017
AMBRIAN PLC
Termination of Employment of Jean-Pierre Conrad as CEO
Ambrian plc ("Ambrian" or the "Company") announces that on 25 August 2017, Mr Jean-Pierre Conrad, the Chief Executive Officer of the Company, was given 3 months' written notice by the Board of Ambrian's wholly-owned subsidiary, Ambrian Metals Limited, terminating his contract of employment with Ambrian Metals Limited with effect from 30 November 2017, in accordance with the provisions of such contract of employment. Mr Conrad was also removed as a director of Ambrian Metals Limited on 25 August 2017. These actions are as a result of the Board of Ambrian having lost confidence in Mr Conrad's ability to lead the Company.
Whilst Mr Conrad remains a director of Ambrian at the current time, his duty to work as the Chief Executive Officer has been released with immediate effect and he has been requested by a majority of the other directors of Ambrian to resign as a director of Ambrian. Mr Conrad's current roles and responsibilities within the Company are being reallocated to other Directors and senior executives.
For further information, please contact:-
Ambrian plc | |
Roger Clegg, COO | +44 (0)20 7634 4785 |
Cenkos Securities plc | |
Neil McDonald | +44 (0)131 220 9771 |
Nick Tulloch | +44 (0)131 220 9772 |
This announcement contains inside information.