Aviva Corporation Announces Board Changes
Aviva Corporation (ASX: AVA, BSE: AVIVA) has provided an update on the board and advised that Dr Geoff Loftus-Hills has resigned as a Director, with immediate effect.
Lindsay Reed, an Aviva director, commented: "On behalf of the Board I would like to thank Dr Loftus-Hills for his leadership and contributions over the last two and a half years.
"Dr Loftus-Hills has more than 40 years mining industry experience which proved to be very valuable for Aviva. He played an extremely important role on Aviva's Kenya project providing oversight on the exploration of the company's mineral licenses, work program and their eventual sale.
"We would like to wish him well in his future endeavours."
Loftus-Hills joined the Aviva Board as chairman on 17 November 2010. Ian Middlemas became chairman of Aviva when he was appointed as a director of Aviva on 16 July 2013.
Aviva also advised that Lindsay Reed's role of chief executive officer has become redundant, however Reed will remain a non-executive director of the company.
Well-funded
Aviva is well-funded after recently receiving A$3.5 million for the sale of the Mmamantswe Coal Project. The company also had over $19 million in cash at the end of March 2013.
The company has a strategy now to identify and develop resource opportunities in Australia, and overseas.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.