ARMS announces board, committee changes

By Romel S. gurky

LSE-listed miner Asia Resource Minerals plc (ARMS) announced Friday that Bob Kamandanu has resigned as Chairman and will step down from the Board with immediate effect.

ARMS said in a statement that Wallace King, currently an Independent Non-Executive Director, will assume the responsibilities of Chairman on an interim basis, pending a permanent appointment by the company in due course.

The company also announced that Sir Richard Gozney, Senior Independent Director, will chair the Nominations Committee and Hamish Tyrwhitt will chair the HSEC Committee, with immediate effect.

The board and committee changes come amid proposal from former chairman and major shareholders of ARMS, Samin Tan to hold a shareholders meeting to decide on a change in the board of directors.

Samin, whose Borneo Bumi Energy and Metal Pte holds more than 28 percent stake in ARMS, is seen to stage a boardroom coup to put his nominees in the ARMS board of directors. ARMS board has urged shareholders to reject the Samin Tan proposal.

Editing by Reiner Simanjuntak