Justin Loasby Appointed Chairman of Kenmare Resources plc
January 09 2012 - 4:55AM
UK Regulatory
TIDMKMR
Kenmare Resources plc ("Kenmare" or "the Company")
9 January, 2012
Justin Loasby Appointed Chairman of Kenmare Resources plc
Kenmare is delighted to announce the appointment of Mr. Justin Loasby as Non-
Executive Chairman of Kenmare Resources plc with effect from 23 January 2012.
Mr. Loasby (64), a British citizen, joined Kenmare's Board in August 2011 as a
Non-Executive Director. He has extensive experience of African mining from his
former position as Associate Director at the European Investment Bank,
Luxembourg, where he led the EIB's financing of development of the mining sector
in Southern Africa and the Indian Ocean from 1994 to 2007. In his early career,
he worked in investment in the City of London, notably at Morgan Grenfell & Co
Ltd and at 3i plc. Mr. Loasby's appointment follows an extensive search led by
senior recruitment consultants Egon Zehnder.
Mr. Charles Carvill has been Chairman of the Company since 1986 and has led its
development from a junior exploration company to a mining company producing
approximately 7% of the world's titanium minerals and 4% of its zircon, and
expected to increase to 10% and 6% respectively following completion of the
current expansion of the Company's operations.
Charles Carvill said: "I am delighted to welcome Justin as my replacement as
Chairman. For some time I have been seeking the opportunity to appoint a
successor to this very rewarding and challenging role. To this end, we met many
impressive candidates and it is with much satisfaction that I announce the
culmination of this effort. Justin has an excellent understanding of the Company
and a clear vision for its future success. He will maintain the Company's high
standards of corporate governance. He will also be an outstanding custodian of
the contribution we seek to make to the communities in which we operate and of
our environmental values. Kenmare has overcome many challenges during my
stewardship and I hand over a Company which has solid production in an
environment where output prices have significantly increased. I know that Justin
will ensure that the Company remains flexible and responsive to the market as it
builds on these successes. Finally, I would like to thank the Board and
shareholders for their support during my tenure as Chairman."
Justin Loasby said: "Charlie has been an exceptional Chairman and has steered
Kenmare throughout the very difficult development period. I hope to add to his
stewardship by further enhancing corporate governance, maintaining the same
spirit within the Company and enabling its continued commercial success."
Justin Loasby's appointment will be effective from 23 January 2012, Kenmare's
next Board meeting, following a handover from Charles Carvill.
For further information, please contact:
Kenmare Resources plc.
Tony McCluskey, Financial Director
Tel: +353 1 671 0411
Mob: + 353 87 674 0346
Murray Consultants
Joe Heron
Tel: +353 1 498 0300
Mob: +353 87 690 9735
Tavistock Communications
Paul Youens / Jos Simson
Tel: +44 207 920 3150
Mob: +44 7843 260 623
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Source: Kenmare Resources via Thomson Reuters ONE
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