Cornish Metals Inc chief executive officer Richard Williams will step down from the post and the board at the end of this month. Mr Williams will remain available as a consultant to the company. “On behalf of the board of directors I want to thank Richard for the many achievements he made and obstacles overcome to […]
Author: editorial
Orcadian agrees new date to repay $1m loan to Shell
Orcadian Energy plc has agreed an extension until 13 June 2024 to pay the US$1 million loan to Shell. AGREEMENTS The original repayment was 23 August 2023 which was twice extended to 13 March 2024. The company said that the new extension allowed time to process the $3.1m sale of a 81.25% interest in its […]
Tullow Oil CEO-CFO exercise total 10.5m share options
Two Tullow Oil plc directors have exercised a combined 10.5 million granted nil price options over ordinary shares of 10p each in the company. On 11 March, chief executive officer Rahul Dhir acquired 5,549,057 shares in relation to the company’s executive share plan for the performance period 2024-2026. He also acquired 1,144,385 shares from options […]
United allows more time for ‘crucial’ fundraise vote
United Oil & Gas plc has given its shareholders three days from tomorrow’s general meeting to vote on resolutions including February’s conditional £1 million fundraise. GOING CONCERN The company said it was “crucial” to approve the resolutions, warning that rejection threatened its future survival. United’s current interests are in Jamaica and onshore UK, after leaving […]
Palliser portfolio manager to stand as Capricorn NED
Capricorn Energy plc said that Palliser Capital portfolio manager Sachin Mistry will stand for election as non-executive director at the company’s general meeting on 23 May. The move follows a relationship agreement with Palliser and consultation by the board with “a broad range of shareholders”. Subject to shareholder approval, Mr Mistry will join the Capricorn […]
Power Metal to sell 49.9% interest in Australia JV
Power Metal Resources plc has conditionally sold its 49.9% share in its Australian joint venture to partner Red Rock Resources plc for up to £1.5 million. BERRINGA The purchase, subject to Red Rock’s due diligence and shareholders’ approval, would be payable in cash, Red Rock ordinary shares and warrants. The two companies set up New Ballarat […]