Coalworks Limited’s (ASX:CWK) CEO, Dr Andrew Firek says he will resign from his role, as Whitehaven Coal Limited (ASX:WHC) edges closer in its takeover efforts.
Whitehaven which has acquired more than 80 per cent of Coalworks’ shares, is also a takeover target from its biggest shareholder Nathan Tinkler.
Whitehaven’s offer to Coalworks ends today.
Coalworks reported a net profit of $1.4 million for the half year to December 2011.