The MD has got the position of Interim Executive Chairman

""Molopo Energy

Molopo, which is subject of a move by major shareholder Keybridge Capital to raid its treasury, had made a pre-emptive move to re-establish its bona fides in the oil and gas space by appointing its recently appointed managing director, Alexandre **ovich, as its interim executive chairman.

**ovich was appointed to the board on February 27 and as managing director of the company on March 8.

**ovich said Molopo had successfully preserved its capital base since selling out of its oil and gas assets in 2014 and had "a robust platform for growth".

"Molopo is in a strong position to identify investments in oil and gas assets that will add value for shareholders, consistent with Molopo's business objectives and the expectations of our shareholders," he said, in what could be interpreted as a declaration of intent at a time when Keybridge was rallying its troops to oust the board and gain control of Molopo's substantial bash pile.

"The board is cohesive, professional and committed to the company's unchanged strategy which is to invest in attractive international energy opportunities.""