Perrott resigns as Gage Roads chairman

Gage Roads Brewing Co Ltd has lost the services of its non-executive chairman, Michael Perrott, after just 12 months in the job.

The news comes after one of the boutique brewer's biggest shareholders, Acorn Capital, recently dumped its 8.65 per cent stake in the group while Top Nominees, a company linked to Repcol Ltd founder Peter Di Prinzio, has topped up its holding by from 8.9 per cent to 9.9 per cent.

Mr Perrott is chairman of Port Bouvard Ltd and GME Resources Ltd.

Gage Roads told investors today that Mr Perrott's resignation was effective yesterday, October 24, and that it would name a successor in due course.

Gage Roads listed on the Australian Securities Exchange in December after raising $4 million from investors issuing stock at 40 cents each.

Gage Roads shares today closed down 3 per cent to 14.5 cents.

A copy of the Gage Roads release is pasted below:

Gage Roads Brewing Co Ltd announces that the Chairman of the Board, Michael Perrott, has tendered his resignation as a director of the company effective 24 October 2007.

Michael Perrott has served as a director of the company for 1 year, helping guide the business through significant change including the Company's IPO and distribution drive in the Eastern States, culminating in the launch of the new national marketing campaign "Take a Different Road. Gage Roads" this October.

The Board has valued Michael's contribution over the year and wishes Michael the best in the pursuit of his other interests.

The Board will announce a successor in due course.