We know that Bears don’t do walking away though first team players do but when it comes to Charlie Green he moves so fast I don’t know how he remembers what company he’s chairing.
In January this year he was chairing Formation Group PLC but company results were down and perhaps he felt his jaikit was on a shoogly peg because on 11 January the Bermudan registered Nova Resources Ltd announced Charlie was now company chairman and a non executive director.
The Singapore-based Nova had only just joined the Alternative Investment Market (AIM) two days before with a market capitalisation of £6.37 million and Nova said Charlie would be a key asset in the Company’s expansion. AIM was notified that Charlie was a current Director with Formation Group PLC.
Things appeared to go well because nine days after joining Nova he received a share option on 20 January of 1 million shares with an exercise price of 8.25p. But into each life must fall a little rain and on 22 February 2012 Formation Group PLC announced the resignation of Charles Green as non-executive chairman and director with immediate effect for personal reasons. As Charlie had been a founder chairman of Formation many years before his seemingly hasty departure was a bit of a surprise to say the least. Continue reading