Board Changes and Results of AGM

RNS Number : 6908J

Central Asia Metals PLC

16 June 2014

 



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: [phone]
Peel Hunt LLP (Nominated Adviser & Joint Broker)	Tel: [phone]
Matthew Armitt Ross Allister
Mirabaud Securities LLP (Joint Broker)	Tel: [phone]
Peter Krens
Bell Pottinger	Tel: [phone]
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).

 

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