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Hambro ousted from gold miner Petropavlovsk after battle with Russian investors

Section: Daily Dispatches

By Jon Yeomans
The Telegraph, London
Thursday, June 22, 2017

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. ...

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