Board Changes and Update on Fundraise
Non-Executive Chairman David Webster resigns; Christopher Johnson appointed as Non-Executive Director; Managing Director James Knowles becomes Executive Chairman; Seventy Ninth Group investment second stage delayed.
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Board Changes
Update on Fundraise
First Class Metals PLC (FCM) hereby announces the resignation of David Webster as director and Non-Executive Chairman with immediate effect. Mr. Webster has decided to focus his efforts towards The Seventy Ninth Group, particularly to address the recent allegations made by the City of London Police concerning the group. Whilst Mr. Webster was one of the four members of The Seventy Ninth Group questioned by the City of London Police, he was released on bail without charge, contrary to some media speculation.
The Company is pleased to announce the proposed appointment of Christopher Johnson as Non-Executive Director. Mr. Johnson, currently serving as Chief Operating Officer of The Seventy Ninth Group, brings over twenty years of experience in legal practice to the board. His appointment is subject to completion of the customary due diligence procedures.
James Knowles, currently the Company's Managing Director, will resume the role as Executive Chairman.
Additionally, whilst it remains the intention to complete the second stage of The Seventy Ninth Group's investment into FCM it will not be proceeding at the current time. Further updates will be provided in due course.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.