Hambledon Mining PLC Board Changes - New Chairman and Two New INEDs (1478R)
October 23 2013 - 2:00AM
UK Regulatory
TIDMHMB
RNS Number : 1478R
Hambledon Mining PLC
23 October 2013
23 October 2013
Hambledon Mining plc
("Hambledon" or the "Company")
Appointment of New Chairman and Two New Independent
Non-Executive Directors
Hambledon Mining plc (AIM: HMB), the gold mining and development
company, is pleased to announce that it has appointed, with
immediate effect, Kanat Assaubayev as its new Chairman and Alain
Balian and Kenneth Crichton as independent non-executive
directors.
Kanat Assaubayev is one of Kazakhstan's leading entrepreneurs
with a wealth of experience in natural resources. The first Kazakh
to get a doctorate in metallurgy, Mr. Assaubayev's early career was
in academia where he rose to Chairman of the Metallurgy and Mining
Department of Kazakh National Polytechnic University. He began in
his business career in the 1990s and has led a number of natural
resources enterprises to national and international success.
In the near term, Kanat will be focusing his efforts on the
license extension relating to the Karasuyskoye ore fields and how
best to integrate these new fields into the Company's adjacent,
current operations at the Sekisovskoye deposit.
Alain Balian serves as the Chairman and Chief Executive Officer
at Cedar Peak Holdings. Mr. Balian was a Deputy Governor of Banque
du Liban, the Central Bank of Lebanon, and a member of its
governing board from 2003 - 2008. While at Banque du Liban, besides
monetary policy and regulation of the financial sector in Lebanon,
his responsibilities included the bank's financial reporting and
the national financial system clearing operations. His earlier
experience includes working at Kleinwort Wasserstein, ABN AMRO
Corporate Finance, and Lebanon Invest in mergers and acquisitions,
corporate finance, and private equity.
Ken Crichton is a mining engineer with over 27 years' experience
in the mining industry. Since graduating in 1985, more than half of
Ken's career has involved working in developing countries and a
considerable part in active mine production roles. He is currently
the Chief Executive Officer of ASCOM Precious Metals Mining, S.A.E.
("APM"), an Egyptian-based minerals company with exploration
activities in East Africa, where he is focused on advancing its
gold discovery in Ethiopia. Previously, Mr Crichton worked for 15
years with BHP Billiton in both Australia and Indonesia, including
as the President Director of PT Billiton Indonesia, a BHP Billiton
subsidiary. Mr Crichton also spent over 4 years working with the
Leighton Holdings Group of Companies, a leading construction and
mining contractor in Papua New Guinea and Australia. Ken is also a
non-executive director of Kemin Resources plc.
The Assaubayev family, of which Kanat is a member, control
African Resources Limited which is a major shareholder in the
Company and has recently provided substantial further financing by
way of a convertible loan note subscription (as announced on 4
October 2013). Kanat is also chairman of Kemin Resources plc, which
is also AIM listed and in which the Assaubayev family also has a
controlling interest.
Ashar Qureshi, non-executive director of the Company, commented,
"Messrs. Assaubayev, Balian and Crichton bring a wealth of
operational and financial experience and expertise to the Hambledon
Board. We expect this to prove an invaluable resource in helping
the Company reach the next stage of its development"
The following information is provided pursuant to Schedule Two
paragraph (g) of the AIM Rules.
Kanat Shaikhanovich Assaubayev (aged 65)
Current Directorships Past Directorships (last 5 years)
Kemin Resources plc KazakhGold Group Limited
JSC MMC Kazakhaltyn
Alain Balian (aged 45)
Current Directorships Past Directorships (last 5 years)
Caspian Energy Holdings None
Cedar Peak Holdings
Cedar Peak Services
M&M Premium German Holding B.S.C.
Kenneth ("Ken") Ronald Kennedy Crichton (aged 51)
Current Directorships Past Directorships (last 5 years)
APM Ethiopia Limited ENOR Spa
APM Sudan Limited PT Billiton Indonesia
ASCOM Precious Metals Mining S.A.E. PT Maruwai Coal
Ellenkay Gold Limited
GMA (Malta) Limited
Kemin Resources plc
Sahara Gold Limited
Enquiries
Hambledon Mining plc
Bogdan Poustovoi, CFA (Investor Relations) +44 (0) 207 932 2455
Strand Hanson (Nomad and Broker)
Andrew Emmott
James Spinney
Ritchie Balmer +44 (0) 207 409 3494
Blythe Weigh Communications +44 (0) 207 138 3204
Tim Blythe +44 (0) 7816 924626
Halimah Hussain +44 (0) 7725 978141
Eleanor Parry +44 (0) 7551 293620
This information is provided by RNS
The company news service from the London Stock Exchange
END
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