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Lekoil Names Metallon-Backed Ajukwu As New Chair After EGM
Mon, 11th Jan 2021 11:31
(Alliance News) - Lekoil Ltd on Monday said it has named Michael Ajukwu as its new chair, just days after he was formerly appointed to the Nigeria-focused oil firm s board.
Lekoil shares were 13% higher at 1.98 pence each in London on Monday morning. The stock is however down 79% from a year ago.
Ajukwu, Thomas Richardson and George Maxwell joined Lekoil s board on Friday after voters at an extraordinary general meeting backed motions proposed by shareholder Metallon Corp Ltd.
Ajukwu replaces UK Conservative Party MP Mark Simmonds who was in the post for a year before saying on Friday he would step aside.