BC Iron reshuffles board - Oct 09
Business Spectator reported that BC Iron has added two Iron Ore Holdings representatives to its board, after last week declaring its off market takeover offer for the junior developer unconditional.
Mr Alwyn Vorster MD of IOH and non executive director Mr Brian O’Donnell joined the board from October 7, as foreshadowed in BC Iron’s official takeover offer documents.
Mr Vorster will initially act as an executive director, moving to a non executive role in due course on conclusion of his employment contract with IOH. Mr O’Donnell will join the board as a non-executive director.
BC Iron's friendly, off market offer for IOH is scheduled to close at 5pm (AEDT) on October 14. At last count, BC Iron held an 84.28% voting stake in IOH.
(Source - www.steelguru.com)