Appointment of Henry Bellingham MP as chairman

RNS Number : 2788A

Pathfinder Minerals Plc

18 February 2014

 

Embargoed: 0700hrs, 18 February 2014

Pathfinder Minerals Plc

("Pathfinder" or the "Company")

Appointment of Henry Bellingham MP as chairman

Pathfinder Minerals Plc is pleased to announce the appointment of Henry Bellingham MP as non-executive chairman with immediate effect.

Mr Bellingham was, between May 2010 and September 2012, Under Secretary of State at the Foreign and Commonwealth Office with ministerial responsibility for Africa, the United Nations, Overseas Territories, economic issues, conflict resolution and climate change.

Mr Bellingham first entered Parliament in 1983 as the member for North West Norfolk, which seat he held until 1997. He regained the seat in 2001 and continues to hold it today following re-election in 2005 and in 2010. In opposition, Mr Bellingham served successively as a Shadow Minister for Small Business and Enterprise, Opposition Whip and Shadow Minister for Legal Services.

Mr Bellingham is the chairman of the Westminster Foundation for Democracy, the UK's leading democracy-building foundation which promotes parliament-to-parliament links and capacity-building in emerging democracies. Mr Bellingham is also co-chair of the 2015 Global Law Summit, which is aimed at celebrating 800 years of the Magna Carta, and promoting UK legal services.

Prior to entering Parliament, Mr Bellingham practised as a barrister. He has previous experience of non-executive directorate responsibilities on the boards of AIM companies, including White Knight Investments PLC which in due course became Pan African Resources PLC.

John McKeon, who transitions into the role of non-executive vice chairman with immediate effect, said: "It is a privilege for Pathfinder to appoint Henry Bellingham as chairman. Henry's interest in developing business opportunities for British companies in Africa and his deep knowledge of the region make him ideally suited to helping steer Pathfinder through this challenging period towards recovering control of its assets in Mozambique."

Henry Bellingham MP, added: "As the former Minister for Africa, I am acutely aware of Mozambique's will to work with international companies to develop responsibly the vast natural resource capacity of the country. I share my fellow directors' aim to restore control to Pathfinder of the heavy mineral sand deposits in Zambezia Province acquired by Pathfinder in 2011; and to develop them for the benefit of Mozambique and of Pathfinder's shareholders."

Save for the information above and below, there are no further disclosures to be made in accordance with Rule 17, Schedule Two (g) of the AIM Rules for Companies in respect of the appointment of Henry Campbell Bellingham, who is aged 58.

In addition to Pathfinder, Mr Bellingham is currently a director of Developing Markets Associates Limited, Pontus Marine Limited, Global Law Summit (2015) Limited, The Westminster Foundation for Democracy Limited and Policy Research Unit Limited. He has, within the past five years, been a director of Consolidated Asset Management Plc, Environmental Recycling Technologies plc*, Landsdowne Advisory Limited and Glencara Estate Company.

*Environmental Recycling Technologies plc ("ERT") was issued a public censure by the AIM Disciplinary Committee of the London Stock Exchange on 23 November 2009 for breaches of the AIM Rules between July 2007 and June 2008. Mr Bellingham was a non-executive director of ERT for part of this period having joined the board of ERT on 27 February 2008.

Enquiries:

Pathfinder Minerals Plc

Nick Trew, Chief Executive

Tel. [phone]

Daniel Stewart & Company Plc

David Hart or James Thomas

Tel: [phone]

Vigo Communications

Ben Simons or Peter Reilly

Tel: [phone]

Notes to Editors:

Pathfinder Minerals Plc is incorporated in England & Wales and is admitted to trading on the AIM market of the London Stock Exchange.

Companhia Mineira de Naburi S.A.R.L. ("CMDN"), a subsidiary of Pathfinder Minerals, was issued mining concession licences 760C and 4623C on 13 September 2004 and 13 July 2011 respectively, each for a period of twenty-five years. Taken together, these mining concessions cover approximately 32,000 hectares of land on the Indian Ocean coast of the Zambezia province of Mozambique, known to contain the heavy minerals, ilmenite, rutile and zircon.

As announced on 3 February 2012, ownership of these licences is being disputed.

 

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