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Egdon Resources loses non-executive director following Infinis's purchase of investee
Egdon Resources announced on Wednesday that non-executive director Paul Jenkinson is to step down from the board with immediate effect.
The news follows Jenkinson's resignation from the board of Alkane Energy Ltd, which has a 15.39% shareholding in Egdon Resources through its holding of 40,000,000 shares, after the company was acquired by Infinis Energy Management Limited.
Infinis, the UK's largest generator of electricity from landfill gas, has significantly diversified its portfolio of assets with the acquisition, as Alkane Energy operates the largest portfolio of coal mine methane sites in the UK.
Jenkinson, appointed as non-executive director of resource exploration and development company Egdon Resources in January 2016, has a wealth of experience and has served directorships at a total of 18 companies.
Philip Stevens, chairman of Egdon Resources, said: "On behalf of the board I would like to offer my thanks to Paul for his contribution to Egdon over the last two years."
As of 1636 BST, Egdon Resources' shares were unchanged at 5.70p.