Viking prepares for a fight as shareholder tries to kick out chairman
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The heat has been turned up on the board of embattled Viking Mines, with a disgruntled shareholder seeking to kick out the gold play’s executive chairman and executive director.
GTT Global Opportunities Pty Ltd has called on the directors of Viking (ASX:VKA) to hold a meeting to consider the appointment of Charles Thomas and George Henderson as directors and removal of current executive chairman John Gardener and executive director Peter McMickan.
“The board will be in communication with shareholders about the requisitioned meeting, including the board’s reasons why it considers the board changes proposed by GTT are not in the best interests of all shareholders,” the company said.
Viking must call a meeting within 21 days after the request was given to the company. The meeting is to be held within two months after the notice of request was received.
GTT currently holds just over 5 per cent of the company after joining the company’s share register with the purchase of 15.8 million shares in June. The shareholder is linked with Rocco Tassone, who is a director of GTT. Mr Tassone is also a former non-executive director of Lepidico (formerly Platypus Minerals).
Viking has been delayed in receiving $US5 million of the $US10 million sale of its Akoase gold project after ownership of the purchasing company was transferred to a substantial Ghanaian trading company, BXC Ghana Ltd.
In its June quarterly report, Viking said it remained extremely confident the balance of the Akoase sale proceeds would be received in a timely manner. The company hopes to receive $US3 million by 31 December 2017 and a further $US2 million via royalties from production.
Stockhead is currently seeking comment from Viking.
Shares in Viking closed trading on Monday up 15 per cent to 1.5c.