Sentient rep ditches Aviva

FOLLOWING tension between Aviva Corporation and its largest shareholder Sentient Executive, non-executive director Pieter Britz has resigned from the board.

Staff Reporter

Britz joined Aviva as a director in November 2011 as a representative of Sentient Executive but after months of friction between the two companies he has tendered his resignation effective immediately.

Last month, Aviva emerged from a trading halt with details of a board restructure, the appointment of Ian Middlemas as chairman as well as a $A1.65 million placement to Middlemas’ company Arredo.

The deal would give Middlemas around 12.5% of the company and as part of the proposal Mark Pearce, a former colleague of Middlemas, would also join the board of Aviva.

Britz opposed the transaction and Sentient sought an injunction in the Supreme Court of New South Wales to prevent Aviva from taking any action.

They quickly dissolved the threat of legal action but proposed to remove three Aviva members from the board and replace them with their own nominees.

Aviva chairman Dr Geoff Loftus-Hills wished Britz all the best for the future.

“I would like to thank Mr Britz for his contributions as a director and also thank Sentient and Mr Britz for their support when Aviva negotiated the sale of Aviva Mining Kenya to African Barrick Gold,” Loftus-Hills said.

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