Aguia Resources Limited: Non-Renewal of CEO Contract and Resignation of Chairman
November 6, 2013 (Source: Aguia Resources) — Aguia Resources Limited (ASX: AGR) (“Aguia” or “Company”) announces that Mr Simon Taylor, the Company’s Managing Director and CEO, has agreed with the Company that he will not seek to renew his employment contract which expires on 1 December 2013.
In addition, the Chairman of the Company, Mr Graham Ascough, has tendered his resignation as a Director and Chairman to be effective from conclusion of the Company’s Annual General Meeting to be held on 15th November 2013.
The Company will seek to recruit a CEO to replace Mr Taylor prior to 1st December 2013. If a new CEO is not available prior to 1st December, 2013 then an interim CEO will be appointed.
Aguia is an emerging fertiliser development company focusing on phosphate and potash projects in Brazil. Brazil is Latin America’s biggest economy and is heavily reliant on imports of up to 50 per cent of its phosphate and 90 per cent of its potash needs. Aguia is well positioned to capitalise on the growing demand for phosphorus and potash based fertilisers in the expanding agriculture sector in Brazil and controls four large projects, located close to existing Infrastructure. The Company is committed to Its existing projects whilst continuing to pursue other opportunities within the fertiliser sector.
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