Astoria Investments askedby RAC to shake up its board
DURBAN – Astoria Investments is set to shake up its board after it received a written request from RECM and Calibre (RAC) to include some of its executive directors on the body.
RAC has proposed that Johannes Cornelis van Niekerk, Pieter Gerhardt Viljoen, Christophe du Mée and Nicolas Fabien Hardy be appointed to the Astoria board.
The move comes after three members of Astoria’s board indicated that they will step down next month.
RAC became a majority shareholder in Astoria after it increased its stake in the company to 78.45percent after acquiring more than 60million shares in the investment company for R2.40 a share.
RAC held a 29.4percent stake in Astoria at the beginning of last month.
Source: iol.co.za
