Alliance Mineral Assets says CFO resigned in January, joining string of exits

SINGAPORE - Catalist-listed miner Alliance Mineral Assets on Wednesday (Feb 27) said its chief financial officer (CFO) Shaun Menezes had resigned in January to "pursue other career opportunities", and that the late lodgement of this announcement was due to an "administrative oversight".

Mr Menezes served as the company's CFO for slightly more than a year since Nov 21, 2017, and resigned with effect from Jan 14, 2019.

Over the past 12 months, there has been seven cessations of appointments related to key personnel in the company, a regulatory filing on Wednesday show.

Nonetheless, in its filing with the Singapore bourse, Alliance Mineral Assets noted that its sponsor PrimePartners Corporate Finance is satisfied that there are no material reasons for the cessation of Mr Menezes, other than those disclosed in its announcement.

"In addition, there are no concerns with regard to the financial reporting that led to the departure of Mr Menezes, and there are no disagreements between Mr Menezes and the company's board of directors with regard to the practices that will have an impact on the company's financial reporting," the company said.

Mr Menezes was responsible for the group's finance and accounting functions. He was also in charge of overseeing the group's financial operations, treasury and tax activities.

Craig Hasson, CFO of Alliance Mineral Asset's subsidiary, Tawana Resources NL, is currently undertaking the roles and responsibilities of Mr Menezes, the company said.

Mr Menezes owns some 1.125 million shares in the company.

As at 1.30pm on Wednesday, the counter was trading flat at 20 cents apiece.