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Nyota calls May 25 shareholder meeting to vote on board overhaul

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Nyota calls May 25 shareholder meeting to vote on board overhaul

Nyota MineralsLtd. said April 22 that it plans to hold a general meeting of shareholders on May 25 to vote on thepossible replacement of its entire board, a resolution that the current board hasasked the shareholders to reject.

The shareholders will consider the appointment of three new directorsproposed by the company's shareholder FiskeNominees Ltd. — Jonathan Morley-Kirk, Andrew Wright and Sergii Budkin.

The new directors would replace the company's existing directors,Richard Chase, Evan Kirby and Michael Langoulant, depending on how many of the resolutionsare passed.

According to the statement, the board's chairperson intends tovote all undirected proxies against all three of the resolutions.

In March, Nyota terminatedthe employment contracts of CEO Richard Chase and technical consultant Evan Kirbyamid shareholder demands for management changes.