JOHANNESBURG – In compliance with the Listings Requirements of the JSE Limited, the board of directors of Bauba Resources, a chrome ore mining company, has notified its shareholders that with effect from 19 August 2021, Mr Jonathan Knowlden, an executive director of the Company and the Financial Director, will assume the role of acting Chief Executive Officer of Bauba pending the conclusion of the investigation into the allegations made in the press concerning Mr Nick van der Hoven, the current Chief Executive Officer, who as a result thereof has been suspended by the Board.
Nick van der Hoven is a commercial lawyer with experience in both the exploration and mining sectors. His legal focus has primarily been in mineral law. He has managed various mineral rights and projects and equity portfolios. He faces arrest and serious jail time as the National Prosecuting Authority (NPA) ponders on hard evidence implicating him in fraud and misconduct relating to mining projects in Limpopo.
Jonathan Knowlden is a CA (SA) and holds a BCom Financial Accounting degree and a Postgraduate Diploma in Accounting from the University of Cape Town. After completing his articles at Deloitte & Touche, he served as an associate at The Royal Bank of Scotland PLC in London and Group Financial Reporting Manager of Clicks Group Limited.
Shareholders will be appropriately updated by way of an announcement and are advised that in the interim, the operations of the Company will continue uninterrupted.