Board changes

RNS Number : 7296A

CSS Stellar PLC

04 April 2012

 



For Immediate Release

4 April 2012

CSS Stellar plc

(the "Company")

Board changes

Following the recent implementation of the Company's Investing Policy with the acquisition of a 49 per cent interest in Gold Mines of Wales Limited ('GMW'), the Company announces the following board changes to reflect its new strategy.

Ed McDermott, Lincoln Moore and Charlie Wood have joined the board as non-executive Director, Finance Director and Executive Director respectively with immediate effect.

Mr. McDermott (29) is currently managing director of GMW's UK operating company and business development manager of Exchange Minerals Ltd. He was previously an executive director at Plus listed Gold Mining Company Limited prior to its admission to AIM as Noricum Gold Limited and business development manager at Leni Gas and Oil Plc and Vatakoula Gold Mines plc. He holds a Bachelor of Science Degree from the University of Bristol.

Mr. Moore (34) is currently a director at Commodities Finance Limited and Ragnar Capital Limited. He is also a director at PLUS listed Morano Resources Limited and Everest Energy Limited. He is a member of the Institute of Chartered Accountants in Australia. He is a Bachelor of Commerce - Accounting and Finance from the University of Western Australia.

Mr. Wood (37) is currently finance director at AIM quoted Ortac Resources Ltd. He is also a founder and director of Ragnar Capital Limited and was general corporate manager of Equatorial Palm Oil Plc from May 2006 to its admission to AIM in March 2010.  He is also a director at PLUS listed Morano Resources Limited and Everest Energy Limited. He holds a Bachelor of Commerce Degree from the University of Tasmania.

Julian Jakobi, John Webber and Simon Rhodes have stepped down from the board with immediate effect to pursue other business interests.

David Lenigas has been appointed as Executive Chairman of the board.

Mr. Lenigas and Mr. Moore will serve on the Audit committee and Mr. Lenigas and Mr. McDermott will serve on the remuneration committee. None of the new directors has any shareholding in the Company. The information that is required to be disclosed in accordance with Schedule Two (g) of the AIM Rules for Companies is set out below.

David Lenigas, Chairman, commented: 'I am delighted to welcome Ed, Lincoln and Charlie to the board. We are now well placed to further develop our investing strategy starting with our 49 per cent interest in Gold Mines of Wales. I would like to take this opportunity to thank Julian, John and Simon for their contribution over the years and wish them well in their future endeavours. I look forward to providing further updates in due course.'

For further information, contact:

CSS Stellar plc
David Lenigas	Tel: [phone]
Northland Capital Partners Limited (Nominated Adviser and Broker)
Luke Cairns / Edward Hutton	Tel: [phone]

Edward Peter McDermott

Current directorships

GMOW (Operations) Limited

Special Situations Capital Limited

Past directorships held within the last 5 years

Noricum Gold Limited

Spartan Natural Resources Limited

Lincoln John Moore

Current directorships/partnerships

Commodities Finance Limited

Ragnar Capital Limited

Ragnar Capital Partners LLP

Morano Resources Limited

Everest Energy Limited

18 Shorrolds Road Management Ltd

Past directorships held within the last 5 years

-

Charles Ainslie Wood

Current directorships/partnerships

Ortac Resources Ltd

Ortac Resources Plc

Ragnar Capital Limited

Ragnar Capital Partners LLP

Morano Resources Limited

Everest Energy Limited

Paranaiba Minerals Ltd

Commodities Finance Ltd

Leintwardine Pty Ltd

Woodell Investments Pty Ltd

Past directorships held within the last 5 years

African Specialty Minerals Ltd

Templar Georgia Ltd

Wood Financial Group Pty Ltd

Equatorial Biofuels (Liberia) Inc.

Liberia Forest Products Inc.

White Sea Nickel Plc

Liberia Agricultural Development Corp

Shellbright Ltd

No further information with respect to Edward Peter McDermott, Lincoln John Moore or Charles Ainslie Wood is required to be disclosed in accordance with Schedule Two (g) of the AIM Rules for Companies.

 

END

 

 

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