Tangiers Petroleum Limited advises that Eve Howell and Max de Vietri have resigned respectively as Executive Chairman and Non-executive Director, effective immediately, citing the loss of support of several major shareholders.
Executive Director Brent Villemarette today thanked both directors for their efforts and their contribution to the Company, and wished them all the very best in their future endeavours.
Replacements for Howell and de Vietri will be advised once new appointments have been made.
Tangiers said it would continue its strategy of building an African focused exploration and production company that delivers material benefits to its shareholders.
Tangiers shares have been suspended from trading on the Australian Securities Exchange (ASX), pending the appointment of the new directors. Tangiers shares will continue to trade on the AIM market during this period.
Tangiers notes that the shares of Jacka Resources Ltd, for whom Tangiers has made an off-market takeover offer (Offer), have also been placed in a trading halt on the ASX pending an announcement on the implications of the Tangiers directors resignations on this Offer. Tangiers will update the market on any developments that occur in relation to the Offer.
February 04, 2014