Chesser Resources Limited Announces the Appointment of Gabriel Radzyminski as a Non Executive Director
Feb 18 15
Chesser Resources Limited announced the appointment of Mr.Gabriel Radzyminski as a non executive Director of the company with immediate effect. Mr. Radzyminski is founder and managing director of Sandon Capital Pty Ltd. He is Chairman of Sandon Capital Investments Limited. Radzyminski also serves as executive director of Mercantile Investment Company Limited and is a non-executive director of Onthehouse Holdings Limited. He is also a non-executive director of Future Generation Investment Company Limited.
Chesser Resources Limited Announces Board Changes
Feb 12 15
Chesser Resources Ltd. shareholders will be aware of significant developments that have occurred with respect to the company in recent weeks that have previously been outlined in various stock exchange announcements. The key developments are as follows: A number of new substantial shareholders have appeared on the share register, including Sandon Capital Investments Ltd. (19.9%), Chifley Portfolios (6.3%) and Novabank (5.09%). Sandon Capital Partners has requisitioned a general meeting of shareholders to be held on 26 February 2015 to seek the removal of three of Chesser's five existing Non-Executive Directors - Chairman Mr. Rob Reynolds and independent directors Mr. Peter Lester and Mr. Morrice Cordiner (the Majority Directors). Sandon also is seeking the appointment of one of its employees, Mr. Gabriel Radzyminski, as a Director of Chesser. The vompany has convened an Extraordinary General Meeting of shareholders to be held on 12 March 2015 to consider a further return of capital of 2.75 cents per share be paid to all shareholders (Further Capital Return). The Further Capital Return was supported by a majority of Directors comprising Mr. Robert Reynolds, Mr. Peter Lester and Mr. Morrice Cordiner. Two of Chesser's existing directors, Mr. Simon O'Loughlin and Mr. Simon Taylor (Minority Directors) have indicated they do not support the Further Capital Return in the form currently proposed but would support a similar return of capital if it were to be proposed after 26 February 2015. On 11 February 2015, Novabank Pty Ltd. requested that the Company convene a general meeting of shareholders to consider the removal of Mr. O'Loughlin and Mr. Taylor as Directors. Novabank is also seeking the appointment of one of its Directors, Mr. Frank Terranova as a Director of Chesser. In light of these various developments, the Majority Directors have formed the view that it is not in the interests of shareholders for the uncertainty regarding the future composition of the Board, and the ensuing uncertainty surrounding the proposed capital return, to persist. The Majority Directors have therefore taken the following steps: Mr. Frank Terranova, a director of substantial shareholder Novabank has been appointed to the Board of Directors, effective immediately. Mr. Terranova has significant experience as a Director and Executive in the resources sector. Mr. Terranova supports the proposed Further Capital Return. Mr. Philip Amery, who is associated with shareholder Amery Partners, has been appointed to the Board of Directors, effective immediately. Mr. Amery is an experienced capital markets advisor and private banker. Mr. Amery has advised that he supports the proposed Further Capital Return, or any superior and equally expeditious proposal for further capital return capable of board and shareholder support. Mr. Stephen Kelly, who has served as Chesser Chief Financial Officer and Company Secretary for the past two years, has been appointed to the Board of Directors, effective immediately. Mr. Kelly supports the proposed Further Capital Return. Mr. Terranova was appointed Chairman of the Board. Mr. O'Loughlin continues to serve as the Deputy Chairman of the Board. Following these appointments, Mr. Robert Reynolds, Mr. Peter Lester and Mr. Morrice Cordiner have resigned from the Board.
Chesser Resources Limited, Special/Extraordinary Shareholders Meeting, Mar 12, 2015
Jan 29 15
Chesser Resources Limited, Special/Extraordinary Shareholders Meeting, Mar 12, 2015., at 10:00 E. Australia Standard Time. Location: Diana Plaza Hotel. Agenda: To consider further return of capital.