MC Mining chairman stands down
Coal producer MC Mining revealed on Friday that chairman Bernard Pryor had stood down from the position after just over eight years.
FTSE AIM All-Share
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17:14 03/05/24
Mc Mining Limited
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16:50 03/05/24
Mining
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16:54 03/05/24
MC Mining stated that long-standing non-executive director Khomotso Mosehla had been appointed as interim chairman, pending the outcome of a shareholder requisitioned meeting scheduled for 11 April.
The AIM-listed group added that at the time of Pryor's initial appointment in 2014, MC Mining was in "a precarious financial position", having "significant debt" as it operated several loss-making coal mines.
However, MC said it was now "on more stable footing", having secured a large coal resource base and a substantially reduced debt.
As of 1040 GMT, MC Mining shares were up 5.96% at 4.98p.