Petropavlovsk Gets Second Shareholder Meeting Requisition Letter

LONDON (Alliance News) - Gold miner Petropavlovsk PLC on Thursday said it has received a new ...

Alliance News 17 May, 2018 | 5:29PM
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LONDON (Alliance News) - Gold miner Petropavlovsk PLC on Thursday said it has received a new requisition letter from shareholders CABS Platform Ltd and Slevin Ltd.

On Wednesday last week, Petropavlovsk said the two shareholders, who hold a combined 9.1% stake, were looking to remove all current board members and replace them with Pavel Maslovskiy, Roderic Lyne, and Robert Jenkins as directors, all three of whom have been directors at Petropavlovsk before.

Maslovskiy resigned as Petropavlovsk chief executive officer in July 2017, while Lyne and Jenkins were formerly non-executive directors. Lyne was also the UK ambassador to Russia from 2000 to 2004.

On Thursday, the company said the new letter made "certain" changes, but reiterated all proposals to change the board.

Shares closed down 2.4% on Thursday at 6.57 pence each.

By George Collard; georgecollard@alliancenews.com

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
Petropavlovsk PLC 6.82 GBX -0.73 -
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