The Financial Times has claimed that three senior executives have resigned and a fourth has taken leave of absence at FTSE 100-listed miner Eurasian National Resources Corp (ENRC).
The newspaper reported that Victoria Penrice, company secretary, Tony McCarthy, human resources boss, and Stuart Nolan, group head of reward, had left. It said that Victor Hannah, head of Africa, had taken a voluntary leave of absence.
On Friday April 19th, the board of ENRC issued a public statement on its website in response to an announcement by major shareholder Alexander Machkevitch that he is looking to take over the company.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The announcement stated: "The board of ENRC notes the announcement earlier today from Mr Alexander Machkevitch that he is in the preliminary stages of forming a consortium to assess a potential offer for the company. The board confirms that it has not received any proposal which could result in an offer or possible offer for the group."
No one at ENRC was available to speak to Digital Look about the report at the time of publication.
ENRC's share price was down 4.78% to 277.10p at 10:23 on Monday, pulling back after having surged by over a quarter on Friday.
MF
-
The top stocks in the FTSE 100After a year of strong returns for the UK’s flagship index, which FTSE 100 stocks have posted the best performance in 2024?
-
A junior ISA could turn your child’s pocket money into thousands of poundsPersuading your child to put their pocket money in a junior ISA might be difficult, but the pennies could quickly grow into pounds – and teach them a valuable lesson about money
