Eurasian Natural Resources Corp.’s remaining U.K. directors said they will resign this weekend unless the company’s board makes structural changes, the Daily Telegraph reported, citing people close to the situation.
Sir Paul Judge and Mehmet Dalman spoke with company executives yesterday and will have talks with ENRC’s biggest institutional investors over the weekend, the paper reported. They have made it clear that they can’t work with the company in its current structure, the Telegraph said.
ENRC slumped to a 23-month low in London trading yesterday after shareholders ousted two independent board members and management began a corporate-governance review. Charlotte Kirkham, a spokeswoman for ENRC, declined to comment when contacted by telephone today.