Anglo Asian Mining PLC
14 March 2006
14th March 2006
ANGLO ASIAN MINING PLC
('Anglo Asian' or 'the Company')
APPOINTMENT OF CHAIRMAN
Anglo Asian Mining PLC (AIM:AAZ) the gold and copper development company with
projects in Azerbaijan, announces that Mr Reza Vaziri the Executive Chairman has
taken up the position of President of the Company and that Mr Graham Mascall
has been appointed to the Board of Directors as Non-Executive Chairman.
Over the course of his career, Mr Mascall has worked as an executive for a
number of the world's largest mining and mining finance companies. The list of
companies includes Billiton and BHP Billiton, Deutsche Morgan Grenfell,
Outokumpu Metals & Resources, and Barclays Bank. He has a degree in Mining
Engineering from the Camborne School of Mines, as well as a Master of
Engineering degree in Mineral Economics from McGill University in Canada.
The Board believes that the combination of Mr Mascall's experience and contacts
within the industry will be a major asset to the Company and will help to
achieve its strategic goals. His appointment is a continuation of the Company's
strategy following the IPO in July 2005 of recruiting to the Board individuals
with experience in the mining sector and follows the appointments of Mr Richard
Round as Finance Director in September 2005 and Dr Ross Bhappu as a
non-executive director in November 2005. The Company continues to search for a
Chief Executive with resource sector experience.
Mr Vaziri, who remains a Director of the Company, commented 'I am delighted that
Graham has agreed to join and to strengthen the Board further. He has had a
distinguished career in mining and mining finance and I believe that his
experience will add significant value to Anglo Asian at what is an important
stage of this young company's development'.
In addition to the increased mining experience being added at Board level, SRK
Consulting has been retained by the Company to assist with the implementation of
Anglo Asian's exploration programme and to provide technical, audit and advisory
services for the projects. Anglo Asian intends to utilise SRK's considerable
expertise and resources where relevant to assist the Company to progress its
projects towards the feasibility study stage.
Save as disclosed below, there is nothing further to disclose in relation to the
appointment of Mr Graham Edward Mascall, aged 59, under schedule two, paragraph
(g) of the AIM Rules:
Current directorships:
Caledon Resources plc
Eurozinc Mining Corporation
Gemfields Resources plc
Uramin Inc
International Molybdenum plc
Previous directorships held in the last five years:
Berkeley Mining plc
Lesotho Diamond Corporation
Billiton International Development Limited
As part Mr Mascall's employment arrangements with Anglo Asian, he has been
awarded options over 1,487,577 Ordinary Shares of 1p each at an option price of
39.5 pence per share and 495,858 Ordinary Shares of 1p each at an option price
of 55 pence per share. Both options vest in three equal instalments on 12, 24
and 36 months respectively after the date of grant, being 13th March 2006.
-Ends-
Enquiries:
Anglo Asian Mining PLC Charles Hancock, Chief Executive +44 20 7409 3232
Richard Round, Finance Director +44 20 7409 3232
Numis Securities Limited John Harrison +44 20 7776 1590
Parkgreen Communications Justine Howarth/Victoria Thomas +44 20 7493 3713
This information is provided by RNS
The company news service from the London Stock Exchange
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