Rebel investors return former executives of Petropavlovsk


By Thomas Biesheuvel
Bloomberg News
Friday, June 29, 2018

Rebel shareholders look to have ousted the leadership at Petropavlovsk Plc as the bitter battle for gold mines in Russia's far east took another twist.

Kazakh cryptocurrency tycoon Kenes Rakishev, who controls a 22 percent stake, and the company's co-founder Peter Hambro were among investors who sought to sack members of the existing board at a shareholder meeting in London today. They voted to bring back former Chief Executive Officer Pavel Maslovskiy and directors Roderic Lyne and Robert Jenkins.

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"A preliminary assessment of the votes cast indicates that it is likely that Dr. Pavel Maslovskiy, Sir Roderic Lyne, and Mr. Robert Jenkins will be appointed as directors of the company," Petropavlovsk said in a statement. Five directors, including Chairman Ian Ashby, won't be reappointed, the gold producer said, adding that the final result would be announced in due course. ...

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