Empire Beer Group will undergo a board restructure with Computershare chairman Chris Morris to join as the company plans a $1.9 million rights issue.
Empire's non-executive chairman Mel Ashton and non-executive director Kate Lamont will resign and three new directors will be appointed as the company plans to change its focus.
The restructure follows the recent completed sale of Empire's The Royal and Colonial Brewing Company pubs to Mr Morris' private company Finico.
Following completion of the rights issue, Mr Morris will be appointed non-executive chairman of Empire and Montagu Stockbrokers advisor Greg Bandy and Max Capital managing director Tony King will join the board.
Messrs Bandy and King are currently shareholders in Empire and intend to sub-underwrite a portion of the rights issue.
Director Ian Macliver, who will remain with the company, will also sub-underwrite the issue.
The pro rata non-renounceable rights issue will offer shareholders one new share at 4.5 cents each for every share held, with funds to go towards business opportunities.
The issue is fully underwritten by Max Capital.
Empire also plans to seek shareholder approval for the issue of a directors' option package at a meeting to be scheduled before the end of next month.
Shares in Empire closed unchanged at four cents today.