16 June 2014
CENTRAL ASIA METALS PLC
("CAML" or the "Company")
Board Changes and Results of Annual General Meeting ("AGM")
Central Asia Metals PLC (AIM: CAML), a copper producing company with operations in Central Asia, announces the following Board changes:-
Appointment of David Swan
David Swan has been appointed as an independent non-executive Director of the Company and Chairman of the Audit Committee with immediate effect. Mr Swan, a chartered accountant, has broad commercial experience across a range of small to large companies. Mr Swan is also a non-executive Director of Sunrise Resources plc and provides finance services on a consultancy basis to other natural resources companies. His previous roles included Chief Financial Officer of Oriel Resources PLC and Finance Director of Lubel Coal plc.
Save as set out in the Appendix to this announcement, there are no additional disclosures required under Rule 17 and Schedule 2, paragraph (g) of the AIM Rules for Companies.
Retirement of Michael Price
Dr Michael Price retired from the Board at today's AGM, having served as a Director of the Company since 2006. During his time with the Company, Dr Price has served both as a valued independent non-executive Director and as the Chairman of the Audit and Remuneration Committees of the Board. In these roles he helped lead the transition of the governance of the Company from the private arena to the public markets.
Nigel Hurst-Brown, Chairman of CAML, commented:
"We are delighted to be welcoming David Swan to the Board. We believe he will be able to provide great value to the group in his new role as an independent non-executive Director.
At the same time, the rest of the Board and I wish to record our appreciation and indebtedness to Dr Michael Price for his independent and insightful input over many years. He leaves the Board with our best wishes for the future."
Results of AGM
The Company also announces that all resolutions proposed at the Annual General Meeting held earlier today were duly passed. Resolutions 12 and 14 set out in the notice of meeting (which related to the now complete Kounrad transactions with Kenges Rakishev) were no longer required and therefore not proposed at the meeting.
For further information please contact:
Central Asia Metals plc Tony Hunter Company Secretary |
Tel: +44 (0) 207 603 1515 |
|
|
Peel Hunt LLP (Nominated Adviser & Joint Broker) |
Tel: +44 (0) 20 7418 8900 |
Matthew Armitt Ross Allister |
|
|
|
Mirabaud Securities LLP (Joint Broker) |
Tel: +44 (0) 20 7878 3362 |
Peter Krens |
|
|
|
Bell Pottinger |
Tel: +44 (0) 20 7861 3232 |
Mark Antelme Lorna Cobbett |
|
Appendix - AIM Rule Schedule 2(g) disclosures
David John Swan's (aged 59) directorships in the last five years are as follows:
Company |
Role/Position |
Date from |
Date to |
Current: |
|
|
|
Sunrise Resources plc |
Non-Executive Director |
May 2012 |
Present |
Previous: |
|
|
|
Lubel Coal plc |
Finance Director |
May 2009 |
July 2011 |
Cambridge Mineral Resources plc |
Finance Director |
August 2013 |
February 2014 |
Mr Swan has an interest in 3,000 shares in the Company (held in name of TD Waterhouse SIPP).
