Rebel shareholders of Carpathian Resources have removed Maximillian Danishevski and Fuad Uzbekov as directors and replaced them with their own nominees.
Victor Danko resigned as a director of the oil and gas explorer and producer prior to the shareholder meeting. He had been appointed to the board on 31 January 2008 by the two directors that were removed. The other two directors were not present at the meeting where he was appointed and the rebels also wanted to get rid of him.
Andrew Meister and Franck Giraudeau have been appointed as directors. Meister is a lawyer while Giraudeau works for Shell Canada. Meister will be the only executive director on the board.
The shares fell 0.125p to 3.5p, valuing it at £9.29m. Carpathian had A$10.7m (£5m) in cash at the end of 2007.
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