| |
Trinity wants to build Matodzi into a mining house - Quinton George
In an interview on SAfm @ 18:25 on 5 August 2008
[miningmx.com] -- TRINITY Asset Management is swapping its Randgold & Exploration shares for a 57% stake in Matodzi Resources and wanting a seat on the board of the company it wants to build into a mining group, MD Quinton George said.
Trinity is asking for a special dispensation to elect a member to the board, he said on SAfm Market Update.
"We'd like to know that we've got our people running the company. But in terms of the SRP rules we obviously don't want to breach any of their rules and put on the board [someone] that maybe recommends to minority shareholders to deal with [something] not in their interests," George said.
"So we do need to ask a dispensation to put someone on the board who won't be making a recommendation to shareholders. The remaining directors will make a recommendation to minorities. But we own 57% of it, and obviously want to get our hands around
it," he said.
"Once we've crystallised the value that sits in the JCI shares, which obviously we intend to do as soon as possible, and as much as possible, we really see it as a possibility to do something with the mineral rights and build it into a credible new mining group within the South African context," he said.
| |
