CCI Holdings CEO Michael Purves has resigned after holding the post for just more than a year.
Purves, previously a non-executive director, was appointed CEO with effect from 16 July last year, replacing Michael Hill. Hill, who was named CRM director on the same day, resigned a few months later.
CCI, formerly Y2KTec, was renamed after a reverse listing by Coetser Cradock International.
In April this year the group warned that its future depended on the success of talks aimed at restructuring its long-term debt.
It had not been meeting its commitments with regard to long-term debt repayments and auditor KPMG warned of a material uncertainty regarding CCI`s ability to continue as a going concern.
For the year to end-December, the group incurred an attributable loss of R2.45 million. While this was an improvement on the previous year`s R5.83 million loss, current liabilities were more than double current assets.
CCI chairman Garth Coetser was in a meeting this morning and unavailable for comment.
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