Petra Diamonds has announced that Matthew Glowasky will stand down as a non-executive director of the company and will also stand down from the board, with immediate effect.
Glowasky was appointed as a non-independent, non-executive director of the company on 10 March 2021.
His appointment was pursuant to a nomination agreement between the company and Monarch Master Funding 2 (Luxembourg) S.a r.l. (“Monarch”), and following the successful completion of the recapitalisation of the Petra Group.
Petra said that while Monarch does not currently intend to nominate a director to replace Glowasky, it retains its right to do so under the Nomination Agreement.
Peter Hill, Petra’s non-executive chairman, said: “On behalf of the board, I would like to thank Matthew for his contribution to Petra during his tenure as a director and wish him every success in his future endeavours.”