Four days after Rusina Mining NL managing director Robert Gregory defended three of his directors following a proposal to axe their positions by minority shareholder Vladimir "Roger" Nikolaenko, a fourth, Peter Hampshire, has resigned.
A company announcement to the stock exchange indicated that Mr Hampshire requested his resignation be read as a sign of support for the current management team and Mr Gregory in particular.
" Whilst acknowledging the outcome of the upcoming general meeting will be a matter determined by shareholders, Mr Hampshire considers that the proposed removal of Messrs Getley, Hands and Tambyrajah, as proposed by the meeting requisitioners, would not leave the then current board with the relevant mix of skills and independence required to ensure project success and ongoing compliance with corporate governance," the announcement stated.
The company has not yet set a date for the appointment of replacement directors, nor the upcoming general meeting of shareholders where Mr Nikolaenko's proposal, for the removal of Messrs Getley, Hands and Tambyrajah, will be discussed.
The full announcement is pasted below
The Company advises that Mr Peter Hampshire has resigned as a Director of Rusina Mining NL. The Company has accepted Mr Hampshire's resignation with effect as of Tuesday 11 July, 2006. Mr Hampshire is and remains supportive of the Company and its objectives to develop the platinum, nickel and chromite stages of the advanced Acoje Project in the Philippines. Mr Hampshire has requested that his resignation should be read as a sign of support for the current management team installed in December last year, and in particular for the Managing Director, Mr Robert Gregory and that he is not associated in any way with the requisitioning parties for the upcoming general meeting of shareholders. Whilst acknowledging the outcome of the upcoming general meeting will be a matter determined by shareholders, Mr Hampshire considers that the proposed removal of Messrs Getley, Hands and Tambyrajah, as proposed by the meeting requisitioners, would not leave the then current Board with the relevant mix of skills and independence required to ensure project success and ongoing compliance with corporate governance. The Company would like to record its thanks to Mr Hampshire for his efforts as a non-executive Director of the Company and advises that it is considering the appointment of a replacement director or directors.
