Appointment of Director

RNS Number : 0839V

Central Asia Metals PLC

09 December 2013

 



9 December 2013

CENTRAL ASIA METALS PLC

                                                                   ("CAML" or the "Company")

Appointment of Director

Central Asia Metals plc (AIM:CAML), a copper producing company focussed on base metals in Central Asia, is pleased to announce the appointment of Mr Kenges Rakishev as a Non-Executive Director of the Company with immediate effect.

As announced on 29 October 2013, Mr Rakishev's appointment follows the transfer of the remaining 40 per cent. of the Kounrad Copper Company LLP in Kazakhstan ("KCC Transaction").

Mr Rakishev is a prominent business leader in Kazakhstan. He serves as chairman of the board of directors for a number of large companies including SAT & Company (KASE: SATC), a diversified industrial holding company, Jinsheng SAT (Tianjin) Commercial and Trading Co.Ltd, Baicheng Jinsheng Nickel Industry Co.Ltd, Taonan City Jinsheng Metallurgical Products Co.Ltd, Ulanhot Jinyuanda Heavy Chemical Industry Co.,Ltd. He also serves as chairman of NASDAQ-listed Net Element International, Inc. (NETE).  He is a founder of Genesis Angels, a private investment fund dedicated to early stage advanced technology companies. Mr Rakishev holds a B.A. (Law) from the Kazakh State Law Academy and a B.A (International Economics) from the Kazakh Economic University. He also holds an AMP Diploma from Oxford University.

Mr Rakishev's appointment will allow the Company to further capitalise on his relationships, experience and expertise, supporting the Company's strategy going forwards.

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.

Nigel Hurst-Brown, Non-Executive Chairman commented:

"I am very pleased to welcome Kenges to the Board. He brings a wealth of experience and knowledge of Kazakhstan's business environment, and we look forward to his contribution to the continued development of the Company."

Appendix - AIM Rule Schedule 2(g) disclosures

Mr Kenges Rakishev (aged 34) directorships in the last five years are as follows:

Company	Role / Position	Date from	Date to
Current:
SAT & Company JSC (KASE:SATC)	Chairman	7 November 2008	Present
Jinsheng SAT (Tianjin) Commercial and Trading Co.Ltd	Chairman	22 December 2010	Present
Baicheng Jinsheng Nickel Industry Co.Ltd	Chairman	22 December 2010	Present
Taonan City Jinsheng Metallurgical Product Co.Ltd	Chairman	22 December 2010	Present
Ulanhot Jinyuanda Heavy Chemical Industry Co.Ltd	Chairman	22 December 2010	Present
ShalkiyaZinc N.V	Non-executive Chairman	19 December 2011	Present
SAT Ferro Limited	Director	23 September 2011	Present
SAT & Co Netherlands N.V	Non-executive Chairman	23 September 2011	Present
Net Element International, Inc. (NASDAQ:NETE)	Chairman	2 October 2012 (1)	Present
AVANTEGUARD SERVICES LIMITED (UK)	Director	20 March 2012	Present
Beyond Verbal Communication, Ltd.	Director	2 September 2013	Present
Mobli Media Inc. (Delaware, USA)	Director	17 August 2012	Present
Mobli Technology 2010 (Israel)	Director	16 August 2012	Present
TriPlay Inc.	Director	3 August 2012	Present
Genesis Angels PTE. LTD (Singapore)	Director	20 May 2013	Present
Genesis GP PTE.LTD (Singapore)	Director	21 May 2013	Present
EvoShave Limited (UK)	Director	12 July 2013	Present
Previous:
Kazakhstan Petrochemical Industries Inc. LLP (JSC)	Member of the Supervisory Board	4 August 2008	26 April 2010

(1)    Mr Rakishev served as a director of the Company's predecessor, Net Element, Inc., from 23 April 2012 until 2 October 2012

Mr Rakishev shareholdings in the Company:

As detailed in the announcement of 27 June 2013, completion of the acquisition (including transfer of the SUC Interest) is expected in Q1 2014. Following completion, CAML will issue 21,211,751 ordinary shares in the capital of the Company to Mr Rakishev, representing 20 per cent. of the enlarged share capital of the Company.

Enquiries:

Central Asia Metals PLC                                Nick Clarke                         [phone]

                                                                                Nigel Robinson

Canaccord Genuity Limited                         Neil Elliot                            [phone]
Christopher Fincken

Mirabaud Securities LLP                               Peter Krens                        [phone]

Pelham Bell Pottinger                                   Charles Vivian                   [phone]

                                                                                Lorna Spears

Notes to Editors:

CAML

Central Asia Metals plc ("CAML" or the "Company") is an AIM-listed UK company based in London. Its countries of operation are Kazakhstan and Mongolia.  CAML is a copper producing company focussed on base metals.

 

END

 

 

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