TIDMCFM
RNS Number : 3300C
Central African Mining&Exploration
11 November 2009
11 November 2009
Central African Mining & Exploration Company plc
("CAMEC" or the "Company")
Directorate change
Further to yesterday's announcement by Eurasian Natural Resources Corporation
PLC that its recommended offer for the entire issued share capital of CAMEC has
been declared unconditional in all respects, CAMEC announces the resignation
with immediate effect of Philippe Edmonds from his post as chairman of
CAMEC, Andrew Groves from his post as chief executive and managing director and
John Anthony from his post as non-executive director of CAMEC.
Following a board meeting of CAMEC this afternoon, the Company announces the
appointment of Mr. Beat Ehrensberger, Mr. James Cochrane and Ms. Zaure
Zaurbekova to the board of directors of CAMEC with immediate effect.
Mr. James Cochrane has been appointed Chairman of the board of directors of
CAMEC.
The board of directors thanks Philippe Edmonds, Andrew Groves and John Anthony
for their service to CAMEC and wishes them well for the future.
Mr. James Alastair Kirkland Cochrane (45 years old) holds, or has in the last
five years held, the following directorships:
Current directorships Mr. James Cochrane:
Landark Developments Ltd.
ENRC Finance Limited
ENRC Management (UK) Limited
ENRC Africa Limited
ENRC Africa 1 Limited
Alloy 2000 B.V., Luxembourg
Bahia Minerals B.V., Amsterdam
DDK Trading AG, Switzerland
ENRC Marketing AG, Switzerland
Past directorships Mr. James Cochrane:
Eurasian Capital AG, Switzerland
ENR Alumina AG, Switzerland (deregistered company)
ENR Iron AG, Switzerland (deregistered company)
ENR Technik AG, Switzerland (deregistered company)
Joint Stock Company Serov Ferrochrome Factory, Russia
Joint Stock Company Serov Metalconcentrate Works, Russia
Joint Stock Company Saranovskaya Mine "Rudnaya", Russia
Xinjiang Tuoli ENRC Taihang Chrome Co, Ltd., China
Ms. Zaure Zaurbekova (47 years old) holds, or has in the last five years held,
the following directorships:
Current directorships Ms. Zaure Zaurbekova:
Eurasian Natural Resources Corporation PLC
TNC Kazchrome JSC
Aluminium of Kazakhstan JSC
KAS JSC
ENRC Microcredit LLP
ENRC Credit LLP
Mr. Beat Ehrensberger (38 years old) holds, or has in the last five years held,
the following directorships:
Current directorships Mr. Beat Ehrensberger:
ENRC Africa Limited
ENRC Africa 1 Limited
ENRC Finance Limited
ENRC Management (UK) Ltd
ASEK Reinsurance AG, Switzerland
DDK Trading AG, Switzerland
ENRC Marketing AG, Switzerland
Joint Stock Company Serov Ferrochrome Factory, Russia
Joint Stock Company Serov Metalconcentrate Works, Russia
Joint Stock Company Saranovskaya Mine "Rudnaya", Russia
Bahia Minerals B.V., The Netherlands
Past directorships Mr. Beat Ehrensberger:
Eurasian Capital AG, Switzerland
Eurasian Natural Resources Corporation AG, Switzerland
EWI Eastwest Interaction Management GmbH, Switzerland
Gastralos AG, Switzerland
IMR International Mineral Resources AG, Switzerland
Central Asian Investment Holding AG, Switzerland (deregistered company)
Central Asian Investment Management GmbH, Switzerland (deregistered company)
CoMIT Resources AG, Switzerland (deregistered company)
Corica AG, Switzerland (deregistered company)
ENR Alumina AG, Switzerland (deregistered company)
ENR Finance AG, Switzerland (deregistered company)
ENR Finance Holding AG, Switzerland (deregistered company)
ENR Finance Management AG, Switzerland (deregistered company)
ENR Iron AG, Switzerland (deregistered company)
ENR Technik AG, Switzerland (deregistered company)
Ferronikeli AG, Switzerland (deregistered company)
Flour Invest GmbH, Switzerland (deregistered company)
Hilford Holding AG, Switzerland (deregistered company)
HSPL Holding AG, Switzerland (deregistered company)
IMR Marketing AG, Switzerland (deregistered company)
International Mineral Resources Holding AG, Switzerland (deregistered company)
International Mineral Resources Management AG, Switzerland (deregistered
company)
J&W Holding AG, Switzerland (deregistered company)
Lynchburg Holding AG, Switzerland (deregistered company)
Mineral Resources Holding AG, Switzerland (deregistered company)
Mineral Resources Management GmbH, Switzerland (deregistered company)
Prentiss Holding AG in Liquidation, Switzerland (deregistered company)
Steelfox AG, Switzerland (deregistered company)
Summerside Holding AG, Switzerland (deregistered company)
Tacit AG, Switzerland (deregistered company)
Traniwa Holding AG, Switzerland (deregistered company)
Zetenics AG, Switzerland (deregistered company)
There is no further information required to be disclosed in respect of the
above appointment pursuant to paragraph (g) of Schedule Two of the AIM Rules.
- ENDS -
Enquiries
For further information, please contact:
+---------------------------------+-------------------------------------+
| ENRC: Investor Relations | |
+---------------------------------+-------------------------------------+
| Mounissa Chodieva | +44 (0) 20 7389 1879 |
+---------------------------------+-------------------------------------+
| James S Johnson | +44 (0) 20 7389 1862 |
+---------------------------------+-------------------------------------+
| Marianna Adams | +44 (0) 20 7389 1886 |
+---------------------------------+-------------------------------------+
+----------------------------------+------------------------------------+
| ENRC: Press Relations | |
+----------------------------------+------------------------------------+
| Julia Kalcheva | +44 (0) 20 7389 1861 |
+----------------------------------+------------------------------------+
About CAMEC
CAMEC is an Africa focused emerging mining company. It operations are centred
around copper and cobalt, coal, bauxite, platinum, trucking and logistics and
fluorspar. CAMEC's copper and cobalt operations are located in the Democratic
Republic of Congo. CAMEC is a holder of coal licences in Mozambique, including
the 100 per cent. owned 871L coal project, in the prospective Zambezi coal
province in Mozambique. In platinum, CAMEC has a controlling interest in a
number of significant assets in Zimbabwe, including a 60 per cent. interest in
the Bokai and Kironde claims held through Todal Mining (Pty) Limited. CAMEC's
trucking and logistics subsidiary, Sabot, has a fleet of approximately 467
trucks and a series of warehouses across the region. In Fluor spar, CAMEC holds
a majority stake in the Doornhoek Fluorspar Project located adjacent to the
Wiktop Fluorspar mine in South Africa. CAMEC is a UK company whose shares were
admitted to trading on AIM on 9 October 2002. For the year ended 31 March 2009,
CAMEC reported a loss before tax of US$41.5 million and had total assets as at
31 March 2009 of US$1,627 million.
Forward-looking Statements
This announcement includes statements that are, or may be deemed to be,
'forward-looking statements'. These forward-looking statements can be identified
by the use of forward-looking terminology, including the terms 'believes',
'estimates', 'plans', 'projects', 'anticipates', 'expects', 'intends', 'may',
'will', or 'should' or, in each case, their negative or other variations or
comparable terminology, or by discussions of strategy, plans, objectives, goals,
future events or intentions. These forward-looking statements include matters
that are not historical facts or are statements regarding the Group's
intentions, beliefs or current expectations concerning, among other things, the
Group's results of operations, financial condition, liquidity, prospects,
growth, strategies, and the industries in which the Group operates.
Forward-looking statements are based on current plans, estimates and
projections, and therefore too much reliance should not be placed upon them.
Such statements are subject to risks and uncertainties, most of which are
difficult to predict and generally beyond the Group's control. By their nature,
forward-looking statements involve risk and uncertainty because they relate to
future events and circumstances. The Group cautions you that forward-looking
statements are not guarantees of future performance and that if risks and
uncertainties materialise, or if the assumptions underlying any of these
statements prove incorrect, the Group's actual results of operations, financial
condition and liquidity and the development of the industry in which the Group
operates may materially differ from those made in, or suggested by, the
forward-looking statements contained in this announcement. In addition, even if
the Group's results of operations, financial condition and liquidity and the
development of the industry in which the Group operates are consistent with the
forward-looking statements contained in this announcement, those results or
developments may not be indicative of results or developments in future periods.
A number of factors could cause results and developments to differ materially
from those expressed or implied by the forward-looking statements including,
without limitation, general economic and business conditions, industry trends,
competition, commodity prices, changes in regulation, currency fluctuations,
changes in business strategy, political and economic uncertainty. Subject to the
requirements of the Prospectus Rules, the Disclosure and Transparency Rules and
the Listing Rules or any applicable law or regulation, the Group expressly
disclaims any obligation or undertaking publicly to review or confirm analysts
expectations or estimates or to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any changes in the
Group's expectations with regard thereto or any change in events, conditions or
circumstances on which any such statement is based.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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