Rurelec CEO Keegan throws in towel
Following the collapse of a major shareholder and resignation of its chairman, Rurelec's chief executive Mark Keegan has also resigned with immediate effect.
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In late November, Keegan and the board said they would continue to try and drum up financing for the South America-focused power plant developer after shareholders voted against a fundraising via a share issue after main shareholder Sterling Trust went into administration in October.
Colin Emson, chairman of Rurelec and Sterling, resigned in order to give executive directors in the AIM-quoted company more control.
Shares in Rurelec were down 7% to 1.3p at 1150 GMT on Monday.