So the boys had a nice
welcome home party!
Jupiter cuts loose misbehaving directors
Iron ore explorer Jupiter Mines Ltd has moved to distance itself from two directors who were arrested in Abu Dhabi after an alcohol fuelled incident on an Etihad Airways flight in April.
Jupiter said it had terminated the consultancy agreements with directors Jeremy Snaith and David Evans, who were convicted of sexual harassment and intoxication by an Abu Dhabi court.
"The board has determined that monies payable under the consultancy agreements between directors David Evans and Jeremy Snaith and the company be terminated and that the agreements themselves be terminated," Jupiter said.
The incident occurred on a flight from Sydney to Abu Dhabi on April 27.
Mr Evans, Mr Snaith and a third man were detained in Abu Dhabi after airline staff reported them for allegedly engaging in drunken, lewd behaviour during their first-class Etihad flight.
Mr Evans received a twelve month suspended sentence for touching a stewardess on the arm and using offensive language while Mr Snaith received a six months suspended sentence for using offensive language and a fine for drinking alcohol on a flight without a permit.
The company's handling of the incident is set to come into question after some shareholders and directors requested a meeting to oust Mr Evans and Mr Snaith and consider ongoing management of Jupiter.
"The company has received a request from directors and a requisition from a number of shareholders that a meeting of the members of the company be called both to consider ongoing management of the company and for removal of David Evans and Jeremy Snaith as directors of the company," Jupiter said.
Jupiter said the notice of the general meeting would be send to shareholders in "due course".
Investors have reacted favourably to the news, pushing Jupiter shares four cents or 19.5 per cent higher to 24.5 cents by 1245 AEST on Friday.