Magma Energy taking board seats at Icelandic HS Orku
Alexander Richter
14 Dec 2009
Ross Beaty, the CEO of Magma Energy, takes board seat at Icelandic geothermal power generation company HS Orka.
According to recent news from Iceland,”Magma Energy Sweden, the European subsidiary of Magma Energy Corp., is sending two people on the board of HS Orka. Ross Beaty the CEO of Magma and Lyle Braaten, the company’s legal counsel are taking the seats.
The first board meeting is now taking place and there are no details available on the topics to be discussed, other than “all issues of main interest for the company” will be discussed.
Legally, Magma now holds a 40% stake in HS Orka, with the biggest shareholder of 57.4% being Geysir Green Energy.
Source: Visir.is (in Icelandic)
