Results of AGM and Board Chan

RNS Number : 2660W

Ovoca Gold PLC

24 July 2009

 

Ovoca Gold plc

Results of AGM and

Board Changes

The board of Ovoca Gold plc (the 'Company') is pleased to announce that all resolutions proposed to shareholders at the Company's annual general meeting were duly passed. 

The Company also announces that Leonid Skoptsov, CEO has stepped down from his position to become Chairman. In turn, Mikhail Mogutov, who was Chairman, has been appointed CEO.

Mr. Skoptsov comments: 'It has been a pleasure to lead Ovoca Gold for the past three years and in that time I think we have built up a highly capable team of professionals that will serve the company well in the future. Now that Goltsovoye is sold and the company has had a transition period to regroup and prepare for a new stage of growth, it seems appropriate for me to step down as CEO. I will still remain involved in the strategic management of the company as Chairman, but I will no longer run day-to-day affairs. I would like to thank all of Ovoca's employees and shareholders for their support during my tenure as CEO. I wish you all well.'

Mr. Mogutov comments: 'Leonid has been an invaluable asset for Ovoca Gold and the board thanks him for his contribution to the company. Although he will no longer run Ovoca, the company will still benefit from his experience and business know-how as Chairman. I will step into the position of CEO to run the company's affairs while we search for new managers and acquisitions.'

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