A final showdown between the board of directors of
At the centre of the dispute are the actions of one-time president Donovan Hoult, who was sacked after numerous clashes with the board of directors. Among other things, the board has accused Hoult of withholding material information regarding the company’s activities, attempting to release geological information described by the company’s chief geologist as “inaccurate,” and opposing a visit by consultant Anthony Naldrett to the Longwoods platinum property in New Zealand.
The last straw came in the form of a written response from Hoult to Pacific International Securities, which had raised concerns about his actions as president. Anzex says Hoult was removed to ensure the continued support of Pacific International, without which the company’s listing on the Vancouver Stock Exchange might be in jeopardy. The board named mining engineer James Kermeen as Hoult’s interim replacement.
At the annual meeting, sheduled for Dec. 21 in Vancouver, both the board and Hoult will submit to shareholders their nominations for a new board of directors. Anzex states that the election by shareholders of Hoult’s slate of directors would not be in the best interests of the company, and Naldrett has threatened to quit in such an event.
Anzex is currently re-evaluating data from the Longwoods project, and from the Mosquito Hill gold project in Australia. The findings of this review will be reported to shareholders.
Be the first to comment on "Anzex president removed prior to annual meeting"