Mischewski was previously Company Secretary and CFO for Australian Pacific Coal prior to Cranswick’s appointment.
“The board of Australian Pacific Coal Limited would like to thank Mr Cranswick for his contribution to, and strong support for, the company’s recent progress since his appointment on 30 October 2015,” the company said in a statement.
“The board supports him in his decision to relocate to his home in Perth. We wish Shane the very best in his career and future endeavours.”
Australian Pacific Coal has executed formal documentation in relation to Marubeni Coal’s “tag-along” sale of its 16.67% interest in the Dartbrook Joint Venture.
AusPac has entered into a binding agreement to acquire an 83.33% interest in the Dartbrook JV from Anglo American.
Under the Joint Venture Agreement between Anglo and Marubeni, Marubeni had the right to “tag” and sell its interest to AusPac on no less favourable terms.
“Marubeni has exercised its tag-along right and AusPac will now proceed with the purchase of Marubeni's interest, subject to, amongst other things, its agreement with Anglo becoming unconditional,” AusPac said.
