Two directors resign from juice company Charlie's

The former chairman of juice company Charlie's has resigned as a director of the business.

Roger Gower stepped down as chairman in April, and his associated interests had since disposed of their shareholding in Charlie's, current chairman Ted van Arkel said today.

In April, Gower Management Group Ltd sold its 13.4 per cent stake in Charlie's to Collins Asset Management Ltd.

Mr Gower, along with Brent King, had resigned as directors effective today, Mr van Arkel said.

Mr King is a former managing director of finance company Dorchester Pacific and has set up the investment vehicle Viking Capital.

"Mr King joined the board of Spectrum Resources in September 2004, and was instrumental in the acquisition and reverse listing of Charlie's," Mr van Arkel said.

"It is with regret we have accepted his resignation due to his current and future commitments."

Charlie's made a back-door listing on the sharemarket a year ago through a reverse takeover by listed shell company Spectrum Resources.

Spectrum bought Charlie's for $11.66 million by issuing 145.75 million shares at 8c each to Charlie's shareholders.

The Charlie's board is now made up of Mr van Arkel, the independent chairman, non executive director Tim Cook, independent director Diane Foreman, and chief executive officer Stefan Lepionka.

Television celebrity and former rugby player Marc Ellis resigned from the board of Charlie's in November last year.

Charlie's shares were up 0.1c late this morning at 10.2c, having ranged between 9.5c and 17c in the past year.

- NZPA