Sierra Rutile Limited Appointment of New Chairman (8619Q)
March 03 2016 - 2:02AM
UK Regulatory
TIDMSRX
RNS Number : 8619Q
Sierra Rutile Limited
03 March 2016
Sierra Rutile Limited
Appointment of New Chairman
London, UK, 3 March 2016: Sierra Rutile Limited (AIM: SRX)
("Sierra Rutile" or the "Company") is pleased to announce that
Robert Edwards has agreed to join Sierra Rutile as Independent
Non-Executive Chairman of the Board of Directors with effect from
today. Robert Edwards will replace Michael Barton as Chairman, who
stepped down on 2 March 2016, following his departure from Pala
Investments, the Company's majority shareholder, to pursue other
career opportunities.
Robert Edwards has extensive experience in mining operations and
the equity capital markets, with a particular focus on the natural
resources sector. Robert Edwards began his career as a mining
engineer prior to moving into investment banking at HSBC and then
Renaissance Capital, where he was instrumental in developing the
company from a single country broker into a successful resource
investment bank focused on Africa, Asia and the CIS. Robert Edwards
is currently a Director of MMC Norilsk Nickel (RTS: GMKN), GB
Minerals Ltd. (TSX-V: GBL) and Highcross Resources Limited, and was
previously a Senior Advisor to Royal Bank of Canada Capital Markets
metals and mining investment banking division.
Richard Lister, Sierra Rutile's Senior Independent Director,
commented:
"I would like to extend the Board's appreciation to Mike Barton
for his long-service as Director of Sierra Rutile and his
board-leadership during his tenure as Chairman. The Company has
developed into one of the leading producers of rutile under Mike's
chairmanship. At the same time, the Board is very pleased to
welcome Robert to Sierra Rutile. He brings a wealth of broad-based
emerging markets experience to Sierra Rutile and I look forward to
working with him closely over the coming years. The Board felt it
was an opportune time to appoint an Independent Non-Executive
Chairman, and Robert is an excellent addition with the experience
and skills to fulfil this role. We are also pleased to retain the
strong support of Pala Investments through the continued presence
of Stephen Gill and Philip Day as Directors of the Company."
John Sisay, Sierra Rutile's Chief Executive Officer,
commented:
"On behalf of the executive team, I welcome Robert to his role
on the Board and I look forward to working with him. Robert's
extensive knowledge of mining, emerging markets, in particular
Africa, and equity capital markets will complement the management
team as we continue to realise the full potential of Sierra
Rutile's world-class asset. Robert's addition to the Board marks
another important step in the evolution of the company as Sierra
Rutile continues to execute on its plan to build a flexible and
capital efficient business focused on delivering industry leading
shareholder returns."
Robert Willem John Edwards, aged 49, holds both a South African
Mine Managers and a Mine Overseers Certificate of Competency,
having graduated from the Camborne School of Mines with an Honours
degree in Mining Engineering.
For Further Information:
Sierra Rutile Limited
Matthew Hird, Chief Financial
Officer
John Nagulendran, Company +44 (0)20
Secretary 7074 1800
Investec Bank
Nominated Adviser and Joint
Corporate Broker
Chris Sim / George Price +44 (0)20
/ Jeremy Ellis 7597 4000
RBC Capital Markets
Joint Corporate Broker +44 (0)20
Jonny Hardy 7653 4000
Numis Securities Limited
Joint Corporate Broker
John Prior / James Black +44 (0)20
/ Paul Gillam 7260 1000
Kreab
Marc Cohen / Christina +44 (0)20
Clark / Fiona Cumberland 7074 1800
About Sierra Rutile Limited
Sierra Rutile produces titanium feedstock industrial minerals
(primarily rutile, with some associated ilmenite), as well as
smaller quantities of zircon. Sierra Rutile's mines, located in the
south west of Sierra Leone, are based on one of the largest natural
rutile deposits in the world, with a JORC-Compliant Mineral
Resource for measured, indicated and inferred resources for the
Sierra Rutile mine of over 895 million tonnes (as at 30 September
2014).
www.sierra-rutile.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
BOALLFEDVRIFIIR
(END) Dow Jones Newswires
March 03, 2016 02:02 ET (07:02 GMT)
Sierra Rutile (LSE:SRX)
Historical Stock Chart
From Jun 2024 to Jul 2024
Sierra Rutile (LSE:SRX)
Historical Stock Chart
From Jul 2023 to Jul 2024