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Edenville reshuffles board

By BFN News | 09:06 AM | Wednesday 03 June, 2015


Edenville Energy has reshuffled its board to help reduce fixed costs while it holds talks with potential financial and technical partners for the next phase of its development. The company says the changes are aimed at maintaining a carefully managed cost base whilst retaining the experience and knowledge of key directors. Non-executive director Mark Pryor will become chief operating officer and become an executive director. Pryor has extensive knowledge of Edenville's Rukwa coal assets, being part of the board since the AIM admission in 2010 and was responsible for the two drilling campaigns on the Rukwa coal project which culminated in defining a measured and indicated coal resource of 170 million tonnes. Edenville says his involvement with the company, both in the UK and Tanzania, has increased during recent months and the executive position better reflects his key role in driving the business forward. Sally Schofield, currently the company's executive chairman, will become non-executive chairman with a commensurate reduction in fees. As an additional cost reduction measure, finance director Rakesh Patel will step down from the board but will continue to provide financial and accountancy services to the company on a consultancy basis. At 9:06am: (LON:EDL) Edenville Energy PLC share price was +0.02p at 0.1p Story provided by StockMarketWire.com

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