Southern African-focused Askari Metals has terminated the contract of its managing director Gino D’Anna, although he will remain a non-executive director of the company.
Southern African-focused Askari Metals has terminated the contract of its managing director Gino D’Anna, although he will remain a non-executive director of the company.
Wednesday’s news follows on from an announcement last month, where the junior told the market it had detected “multiple breaches of its share trading policy” by Mr D’Anna.
“These breaches involved transactions in the company’s shares during designated closed periods and/or without the requisite prior approvals mandated by the company’s internal policies,” Askari said on November 21.
“Mr D’Anna has advised that the breaches occurred, in essence, due to administrative failings on his part to monitor share trading by one of his controlled entities.”
The junior said the breaches had been promptly reported to Askari’s board, with Mr D’Anna formally counselled and his trading activity subjected to additional attention.
Eight days later, Askari also announced company secretary Leonard Math had been appointed as chief financial officer and a non-executive director, effective from December 1.
However on Wednesday, along with its announcement regarding Mr D’Anna, the junior said Mr Math would be stepping down as both CFO and company secretary, however would remain on the board as a non-executive director.
Replacing Mr Math in both roles will be Stuart Usher – has 30 years of experience in both corporate affairs and management, particularly with public listed companies.
In October, the junior increased its uranium presence in Tanzania, by acquiring the Eyasi project, courtesy of its wholly owned subsidiary, Infinum Uranium.
Askari shares last traded at 12 cents, down 8 per cent, as of 11.03am WST.
