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ENRC has announced the resignation, with immediate effect, of a total of five of its non-executive directors, following the completion of the takeover offer by the consortium of its founders.
The non-executive directors who have resigned include former chairman Gerhard Ammann, as well as Richard Burrows, Mohsen Khalil, Roderick Thomson, and Terence Wilkinson.
As stated in a circular to ENRC shareholders on August 14, it was the intention of all the members of the independent committee set up to examine the takeover offer to resign as ENRC directors as soon as it became wholly unconditional.
The offer was declared wholly unconditional in all respects on October 25 by Eurasian Resources Group, the entity representing the consortium.
Claire Hack chack@metalbulletin.com Twitter: @clairehack_mb