PanAust: Highlands moves to prevent PanAust from taking over its board

ASX-listed Highlands Pacific is facing a board spill after joint venture (JV) partner PanAust, which holds a 13.9% interest in the company, called for the removal of four of the company's five nonexecutive directors and the appointment of three of its own nominees. PanAust, which is a JV partner in the proposed Frieda River project, in Papua New Guinea, has called for the removal of Highlands chairperson Ken MacDonald, newly appointed director Ron Douglas, independent director Mike Carroll and independent director Dan Wood.