OreCorp leadership resigns after Perseus takeover
Make us a preferred source
Make us a preferred source on Google
The news: Gold explorer OreCorp has announced the resignation of its executive chairman, CEO and managing director, and two non-executive directors following its takeover by fellow ASX-listed miner Perseus.
The numbers: On Wednesday, Perseus increased its stake in OreCorp to around 75%, after fellow shareholder Silvercorp accepted its takeover offer of 57.5 cents per OreCorp share.
The context: OreCorp's executive chairman Matthew Yates, CEO and managing director Henk Diedrichs and non-executive directors Alastair Morrison and Michael Davis resigned from their positions on the board following the off-market takeover bid by Perseus.
Yates and Diedrichs have agreed to remain available to provide consultancy services to the company for a transitional period.
Meanwhile, OreCorp has appointed Perseus' chairman and CEO Jeff Quartermaine as chairman of its board, and named Perseus' chief financial officer Lee-Anne de Bruin as its new CEO and managing director.
OreCorp confirmed that Quartermaine and de Bruin will not be remunerated by OreCorp for their new respective roles in addition to their Perseus salary.
Quartermaine and de Bruin will form OreCorp's board, together with Mike Klessens who will remain as a non-executive director.
The source: ASX announcement
