CWK WHC

News: Coalworks chiefs beg to stay

  1. FNN News
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    09/05/12
    11:09
    Post #: 10150407
    .


    Coalworks Limited (ASX:CWK) chairman Wayne Mitchell, in a letter to investors has asked shareholders to reject a proposal to remove him and another director.



    Mr Mitchell advises their removal would leave the board made up of Whitehaven Coal Limited (ASX:WHC) and Macquarie nominees – whose interests, he says are not necessarily aligned with other Coalworks shareholders.



    The vote will take place on June 15. Whitehaven is offering $1 for each Coalworks share.


     


    Coalworks reported a net profit of $1.4 million for the half year to December 2011.

    CWK Price at posting: 97.9¢ Sentiment: None Disclosure: Held
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