Forrest to resign from Poseidon

Nickel miner enters trading halt pending announcement of chair's resignation.

Poseidon Nickel (POS) is set to announce the resignation of chairman Andrew Forrest after placing its shares in trading halt.

In a statement to the Australian Securities Exchange, Poseidon said it expects its shares to stay in trading halt until the start of trade on October 1 or when the announcement about its chair's resignation and related board reorganisation is released.

Mr Forrest is also the chairman of Fortescue Metals Group (FMG).