AZTEC Resources Ltd has announced the appointment of three non-executive directors, following the board’s recommended acceptance of the Mt Gibson takeover bid. Luke Tonkin, Alan Rule and Craig Readhead have been appointed to the directorships and all three are directors of Mt Gibson Iron. Former Aztec executive chairman and recent non-executive chairman Ian Burston has stepped down from the position, although he will remain on the board as a non-executive director. The Aztec board now comprises seven directors, with the structure intended to remain for the duration of the period prior to the closing of the takeover bid. If Mt Gibson obtains a 90 per cent or greater acceptance rate for its offer, the company has agreed with Aztec that Dr Burston and Aztec managing director Peter Bilbe will be invited to the Mt Gibson board. Aztec has also appointed Mr Michael Arnett to the position of non executive chairman.
