|
Tuesday, 29 March 2011 09:27 |
|
African Aura Mining Inc., the TSX-V (AUR) and AIM (AAAM) listed exploration and development company, announces that Steven Poulton, a non-executive director of the Company, has elected to step down from the Board effective upon the completion of the previously announced proposed restructuring of the Company into separate gold and iron ore companies.
Following the completion of the Arrangement, Mr. Poulton will not be a director of either of the Company or Aureus Mining Inc. (the separate gold company resulting from the Arrangement). Mr. Poulton has advised the Company that he intends to vote all of his respective common shares (being 1,251,000 shares or approximately 1.45% of the current issued share capital) in favour of the resolution relating to the Arrangement (the "Arrangement Resolution") at the Special Meeting of shareholders to be held on 5 April 2011. All directors of the Company have confirmed their intention to vote in favour of the Arrangement Resolution (being a total of 7,716,481 shares or approximately 9% of the current issued share capital.David Netherway, Chairman of African Aura commented: "Steven has worked diligently on behalf of the Company's shareholders since founding African Aura Resources Ltd in 2004, which merged in 2009 with Mano River Resources Inc. to create the Company. Having started his career with Mano in 1998, he has been a longstanding colleague for many of us over the last 12 years. The board fully supports his rationale that the proposed restructuring is a natural juncture for him to step down and focus on the further development of Altus Strategies, the UK based resource investment group which he co-founded in 2007. If the restructuring occurs as envisaged, then on behalf of our board and staff I would like take the opportunity to thank him for his significant contribution to the Company". |
|
Last Updated on Tuesday, 29 March 2011 07:31 |
