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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Avocet Mining Plc | LSE:AVM | London | Ordinary Share | GB00BZBVR613 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 13.10 | 11.40 | 14.80 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMAVM
RNS Number : 0646I
Avocet Mining PLC
19 March 2018
Changes to the Board
Avocet Mining Plc (the "Company") announces today that Russell Edey has tendered his resignation as director and chairman of the board, effective immediately. Gordon Wylie and Jim Wynn have also tendered their resignations as Directors of the board of Avocet, effective immediately.
Barry Rourke will remain as Non-Executive Director of Avocet. Boudewijn Wentink will remain as Executive Director.
As announced earlier, the Company is taking all practicable actions to minimise its costs and streamline its remaining responsibilities, activities and group structure. The recent sale of its Burkina Faso assets and the disposal of Wega Mining is part of that larger restructuring effort - taking place against the background of on-going discussions between the Company and its sole creditor Elliott regarding the restructuring of its overdue loans of, in total, USD 29.2 million.
With the Company's stake in the Tri-K development joint venture with Managem now being its only asset, the size of the board is no longer appropriate.
In this context, Russell Edey has tendered his resignation as director and Chairman of the board, effective immediately. Gordon Wylie and Jim Wynn have also tendered their resignations as directors of the Board of Avocet.
Barry Rourke will remain as Non-Executive Director of Avocet with Boudewijn Wentink as Executive Director.
- END -
FOR FURTHER INFORMATION PLEASE CONTACT
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Avocet Mining PLC Blytheweigh J.P. Morgan Cazenove
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Boudewijn Wentink, CEO Tim Blythe Michael Wentworth-Stanley
Yolanda Bolleurs, CFO Camilla Horsfall
Megan Ray
+44 20 3709 2570 +44 207 138 3204 +44 20 7742 4000
NOTES TO EDITORS
Avocet Mining PLC ("Avocet" or the "Company") is an unhedged gold mining and exploration company listed on the London Stock Exchange (ticker: AVM.L) and the Oslo Børs (ticker: AVM.OL). The Company's principal activities are gold mining and exploration in West Africa.
This information is provided by RNS
The company news service from the London Stock Exchange
END
BOADMGMFRRVGRZM
(END) Dow Jones Newswires
March 19, 2018 03:01 ET (07:01 GMT)
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