changes to the Board of direc

RNS Number : 7381I

KazakhGold Group Ltd

17 March 2010

 



17 March 2010

KazakhGold Group Limited (LSE: KZG): today announced changes to its Board constitution

KazakhGold Group Limited (LSE: KZG), today announced the following changes to its Board constitution and decisions taken at the Meeting of the Board of Directors held on March 17, 2010.

It was noted and confirmed that the resignations of Stephen Oke, David Netherway and Boris Zakharov have been accepted.

It resolved that Alexey Teksler be appointed new director of the Company effective 17 March 2010. Alexey Teksler, having significant experience in the mining sector, serves as CEO of KAZAKHALTYN MMC JSC - one of Kazakhstan's leading gold mining enterprises, a subsidiary of KazakhGold Group Limited.

It was further resolved that Adrian Coates be appointed new independent non-executive director of the Company and Chairman of the Audit Committee.

Mr. Adrian Coates has over 20 years' experience in the mining sector, most recently at the HSBC Bank Plc, London where he was Global Sector Head Resources and Energy until 2008, with strategic responsibility for HSBC's relationships and businesses with major clients globally in the resources and utilities sectors. Adrian Coates was the lead HSBC banker on a number of large scale metals and mining transactions.  He was cited in the press as "HSBC's star advisory banker" and named in Financial News' "Top 20 European Dealmakers" in late 2007.  Previously as Managing Director, Metals and Mining at UBS Investment Bank, London, he was responsible for originating the landmark Billiton IPO, a deal which both restarted the London mining market and set a precedent for the subsequent influx of emerging market companies.

Adrian Coates has a MA degree in Economics from Cambridge University and a MBA from the London Business School.

In his non-executive career, Adrian Coates has served as an adviser to a number of leading mining companies.  He is a non-executive Director and Chairman of the Audit Committee of Regal Petroleum plc and Director of A & P Coates Management Limited.

For further information please contact:

Anton A. Arens, PR Director
[phone]
[phone]
[e-mail]

Alexey V. Chernushkin, Director, CM and IR
Evguenia V.Buydina, IR manager
[phone]
[phone]
[e-mail]

 

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