London-listed Petropavlovsk is facing a potential shareholder revolt with two groups moving to have all the company’s directors removed and for the reinstatement of former CEO Pavel Maslovskiy to the board.
The gold miner, which operates in Russia, said on Wednesday that it had received a letter from CABS Platform and Slevin, holding a combined 9.11% of the company’s issued share capital, requesting a resolution at the forthcoming annual general meeting (AGM) for the removal of all existing directors.
