Board Changes

RNS Number : 3622I

Tri-Star Resources PLC

25 March 2015

 



Tri-Star Resources plc ("Tri-Star" or the "Company")

Appointment of Mark Wellesley-Wood as Chairman and Board changes

25 March 2015

Tri-Star, the integrated antimony development company, is pleased to announce that Mark Wellesley-Wood has today joined the board as Non-executive Chairman. Mark is a mining engineer, with over 40 years' experience in both the mining industry and investment banking. Until recently Mark was a director of Investec Investment Banking and Securities in London.  He has been closely involved in mining activities in Africa, having started his career on the Zambian copper-belt, and is a former Executive Chairman and CEO of South African gold miner, DRDGold Limited.

Mark has been working as a consultant to Tri-Star since November 2014 and has been involved in all areas of the Company's activities including, in particular, the Oman Roaster Project.

Mark takes over as Chairman from Adrian Collins, who will remain on the Board as the Senior Independent Non-executive Director.

The Company also announces that with effect from today Brian Spratley is stepping down from the Board but will continue in his executive role as Technical Director and Jocelyn Trusted and Mike Hirschfield have resigned as Non-executive Directors.

Mark replaces Jocelyn Trusted as Chairman of the Remuneration Committee and as a member of the Audit Committee.

Adrian Collins, the outgoing Chairman, commented "I am delighted to hand the baton of Chairman to Mark. With his knowledge of the Company and his extensive experience across mining and metal processing I am convinced that Mark is the right person to guide the Company through the next exciting phase of its development and have every confidence that he will complete the exciting projects the Company has embarked upon. I should also like to thank Jos and Mike for their considerable contributions to the Board."

Mark Michael Wellesley-Wood, aged 63, currently holds or has held the following directorships and partnerships in the last five years:

Current directorships/partnerships	Past directorships/partnerships
Alecto Minerals plc	Mwana Africa plc

Mr Wellesley-Wood is beneficially interested in 2 million ordinary shares in Tri-Star. There is no other information that is required to be disclosed pursuant to Schedule 2 paragraph (g) or Rule 17 of the AIM Rules for Companies.

Enquiries:

Tri-Star Resources Plc Mark Wellesley-Wood, Chairman Emin Eyi, Managing Director	Mob: [phone] Tel: [phone]
SP Angel Corporate Finance (Nomad and Broker) Robert Wooldridge / Katy Birkin	Tel: [phone]

This news release may contain "forward-looking information", as defined under applicable Canadian securities laws. Forward-looking information typically contains statements that relate to future, not past, events and often contains words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. There can be no assurance that the forward-looking information contained in this release will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information.

All statements, other than statements of historical fact, included in this release including, without limitation, the viability of chemical processes, the financial assumptions, bases and outputs mentioned, constitute forward- looking information. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect, including, but not limited to, assumptions in connection with the ability to deliver any of the outcomes referred to, the availability of financing and general economic and market conditions. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks associated with changes in laws, the ability to raise finance on acceptable terms for any of the projects or facilities mentioned, the volatility of commodity and raw material prices, currency exchange rates and interest rates, global economic conditions and the additional risks identified in the Company's Annual Report and Financial Statements for the year ended 31 December 2013 or other reports and filings with applicable securities regulators. Forward-looking information in this release is based on the Directors' beliefs, estimates and opinions on the date of this release and the Company does not undertake to update publicly or revise the forward-looking information contained in this release, except as required by applicable securities laws.

Any financial outlook or future-oriented financial information in this release, as defined by applicable Canadian securities laws, has been approved by the Directors as of the date of this release. Such financial outlook or future oriented financial information is provided for the purpose of providing information about the Company's current expectations and plans relating to the future. Readers are cautioned that such outlook or information should not be used for purposes other than for which it is disclosed in this release.

 

END

 

 

BOAUSSBRVOAOUAR