14/09/2009 - 09:26

Dattels quits Berkeley as Polo sells out

14/09/2009 - 09:26

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Berkeley Resources director Stephen Dattels has resigned from the board after a company he chairs sold nearly $8.5 million worth of shares on-market.

Dattels quits Berkeley as Polo sells out

Berkeley Resources director Stephen Dattels has resigned from the board after a company he chairs sold nearly $8.5 million worth of shares on-market.

Mr Dattels joined uranium explorer Berkeley earlier this year when his company Polo Resources invested $5 million through a share placement.

Berkeley had then invited Mr Dattels to join the board.

However last month, Polo sold about 8.22 million shares for about $1.03 each, reducing its interest in Berkeley from 15.07 per cent to 8.41 per cent.

As a result of the reduced shareholding, Berkeley announced today that Mr Dattels had resigned as a director, effective immediately.

Polo Resources has had an active year so far, investing in Perth-based explorers Impact Minerals, West Australia Metals and Extract Resources.

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