Azimuth Changes Board Prior to Troy Resources' Takeover

By IVCPOST Staff Reporter

Jul 05, 2013 06:40 AM EDT

Azimuth Resources Limited, a company involved in the exploration of gold and uranium in Guyana,  announced that there would changes its board members prior to Troy Resources Limited's takeover of the company. David Dix was appointed as Non-Executive Chairman, and Paul Benson and Stacey Apostolou were appointed as Non-Executive Directors of the company.

Dean Felton, who was an independent Non-Executive Director, would remain on the board until Troy proceeds with compulsory acquisition. Afterwards, Felton would step down from office. Three other board members tendered their resignations, namely Messrs Michael Hunt, Richard Monti, and Sean Harvey.

"The appointment of Troy nominees to the Azimuth Board follows the takeover offer for Azimuth shares having been declared unconditional earlier this week," the incoming Board Chairman, Dix, commented.

Dix further thanked the outgoing chairman, Hunt, as well as the other outgoing directors "for their efforts in building Azimuth since acquiring the Guyanese gold projects in 2010, and for the professional manner in which they have approached the takeover."

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