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Home>GoldWire>Hambro ousted from gold miner Petropavlovsk after battle with Russian investors

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Hambro ousted from gold miner Petropavlovsk after battle with Russian investors

Chris Powell

GATA

Published : June 23rd, 2017

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FOLLOW : Georgia Gold Investors London Mining Prudential Report Russian

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	Peter Hambro has lost his bid to stop a major Russian investor from filleting the board of Petropavlovsk, the gold mining company he co-founded more than 20 years ago. Shareholders at the London-listed miner's annual general meeting voted in favour of a resolution by Renova to oppose the reappointment of Mr. Hambro and three independent non-executive directors. Renova's attempt to appoint two new directors to the board also succeeded, as did an effort by fellow investors M&G -- part of Prudential -- and Sothic to have two of their nominees appointed. The result means that Mr Hambro is no longer a director of Petropavlovsk, and his choice to replace him as chairman, Andrew Vickerman, has also been ousted. ... ... For the remainder of the report: http://www.telegraph.co.uk/business/2017/06/2...ousted-gold-...

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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.

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