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Sipa Resources (ASX:SRI)- Managing Director, Pip Darvall
Managing Director, Pip Darvall
Source: Sipa
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  • Sipa Resources (SRI) shares dropped following the announcement of a board restructure, which is effective from September 1
  • As part of its annual corporate review, the exploration company found it will benefit from a restructure to its board
  • The new changes will see Craig McGown become independent Non-Executive Chairman and Tim Kennedy will step into the role as Non-Executive Director
  • Sipa closed down 6.06 per cent at 6.2 cents per share on August 30

Sipa Resources (SRI) shares closed down today following the announcement of a board restructure.

As part of its annual corporate review, the exploration company found it would benefit from a restructure of its board.

The new changes will see Craig McGown resume his role as independent Non-Executive Chairman and Tim Kennedy will step into the role as Non-Executive Director.

The changes will be effective from Wednesday, September 1.

Over the next 12 months, Sipa will be moving to a more intensive exploration phase at its emerging portfolio of Western Australian based projects.

This will include further drilling programs as its tenements move through the grant and access permitting phases.

The restructure will allow Mr Kennedy more time to provide technical advice, tapping into his strong technical and exploration background.

Sipa will also benefit from Mr McGown’s corporate and investment banking experience by having him work closely with Managing Director Pip Darvall.

Sipa closed down 6.06 per cent at 6.2 cents per share on August 30.

SRI by the numbers
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