Breaker Resources NL has announced new board changes related to Ramelius Resources Limited reaching a controlling interest of 50.1% of Breaker’s issued share capital, pursuant to the recommended takeover offer by Ramelius announced on 20 March.
It has been agreed that four Breaker directors will resign from the board, effective immediately, while Ramelius will appoint three representative directors to manage their controlling majority interest.
Non-Executive Chairman Peter Cook and Executive Director and CEO Sam Smith will remain on the Breaker board to manage the interests of minority Breaker shareholders until Ramelius reaches a compulsory acquisition of the company, or if the offer period expires.
The company added that Lisa Wynne would also continue as chief financial officer and joint company secretary.
Breaker has also welcomed Mark Zeptner, managing director of Ramelius, as a non-executive director.
Zeptner has over three decades of experience in operational and management positions, including at WMC and Gold Fields Limited.
Alan Thom, a mining engineer with over two decades of experience in managing resource projects from concept through to bankable feasibility, development and operation, has been named as a non-executive director at Breaker.
The company has also named Richard Jones as joint company secretary.
Jones has over two decades of experience as a corporate commercial lawyer in both private and in-house capacities across various industries.
He has also served as company secretary for various listed and unlisted companies in the mining sector.
