Company involved with fracking proposals to hold AGM Friday
The chairman of the board of directors of Shoal Point Energy is stepping back from the position as of the company’s annual general meeting of shareholders on Friday.
Norman Davidson Kelly will not be looking for re-election to his position, but will remain “a major shareholder” in the company, according to a Shoal Point Energy statement issued Wednesday.
Davidson Kelly’s departure from the board of directors is attributed to the company’s transition to the role of a non-operating company, as partners like Black Spruce Exploration take over operational decisions for license areas, including possible use of fracking for oil exploration in western Newfoundland.
Davidson Kelly is expected to be replaced “with a qualified representative from the Province of Newfoundland and Labrador.”