TIDMFRES
RNS Number : 6688F
Fresnillo PLC
22 February 2018
Fresnillo plc
21 Upper Brook Street
London W1K 7PY
United Kingdom
www.fresnilloplc.com
22 February 2018
Fresnillo plc - Board Changes
Fresnillo plc (the "Company") announces that the Nominations
Committee has recommended to the board of directors of the Company
("the Board"), and the Board has agreed, that Ms Georgina Kessel be
proposed for election as an independent non-executive director of
the Company at the 2018 annual general meeting, which is due to be
held on 30 May 2018 (the "AGM"), with her appointment to take
effect from the conclusion of the AGM.
Ms Kessel worked in the Mexican government where she served as
Secretary of State in the Ministry of Energy from 2006 to 2011. She
also chaired the Governing Board of the Federal Electricity
Commission and has been president and a member of the Board
Directors of Petróleos Mexicanos (PEMEX). She is currently an
independent director of Scotiabank, Iderdrola and is a partner in
Spectron.
Mr Guy Wilson has advised the Board that he will stand down from
the Board at the AGM, having served as an independent non-executive
director for nine years.
The Board has, therefore, also approved a recommendation from
the Nominations Committee that Mr Alberto Tiburcio be appointed as
Chairman of the Audit Committee and Mr Charles Jacobs be appointed
as a member to the Audit Committee both with effect from the date
of the AGM. In addition, the Board has approved a recommendation
from the Nominations Committee that Dame Judith Macgregor be
appointed as an additional member of the Health, Safety,
Environment and Community Relations Committee with effect from the
date of the AGM.
The Board has further approved the appointment of Mr Alejandro
Baillères as Deputy Chairman of the Company with immediate
effect.
Fresnillo plc Chairman Alberto Baillères said: "I should like to
take this opportunity to thank Mr Wilson for his outstanding
contribution to the Board and the Audit Committee during the past
nine years. His significant efforts in overseeing the sound
financial and internal controls environment of the Company since
the IPO will be greatly missed. I am delighted that Ms Kessel has
agreed to join the Board. Her significant political experience and
knowledge of the energy sector will greatly support the Company and
the Board. I look forward to welcoming her to the Board following
the 2018 AGM".
For further information, please visit our website
www.fresnilloplc.com or contact:
Fresnillo plc Tel: +44 (0)20 7399
London Office 2470
Gabriela Mayor, Head
of Investor Relations
Patrick Chambers
Mexico City Office Tel: +52 55 52 79 3206
Ana Belem Zárate
Powerscourt Tel: +44 (0)20 7250
Peter Ogden 1446
About Fresnillo plc
Fresnillo plc is the world's largest primary silver producer and
Mexico's largest gold producer, listed on the London and Mexican
Stock Exchanges under the symbol FRES.
Fresnillo plc has seven operating mines, all of them in Mexico -
Fresnillo, Saucito, Ciénega (including the San Ramón satellite
mine), Herradura, Soledad-Dipolos1, Noche Buena and San Julián
(phase I and II), two development projects - the Pyrites Plant, and
second line of DLP at Herradura, and four advanced exploration
projects - Orisyvo, Juanicipio, Las Casas Rosario & Cluster
Cebollitas and Centauro Deep, as well as a number of other long
term exploration prospects. In total, Fresnillo plc has mining
concessions covering approximately 1.8 million hectares in
Mexico.
Fresnillo plc has a strong and long tradition of mining, a
proven track record of mine development, reserve replacement, and
production costs in the lowest quartile of the cost curve for
silver.
Fresnillo plc's goal is to maintain the Group's position as the
world's largest primary silver company, producing 65 million ounces
of silver per year by 2018, having already surpassed the gold
target of 750,000 ounces.
Forward Looking Statements
Information contained in this announcement may include
'forward-looking statements'. All statements other than statements
of historical facts included herein, including, without limitation,
those regarding the Fresnillo Group's intentions, beliefs or
current expectations concerning, amongst other things, the
Fresnillo Group's results of operations, financial position,
liquidity, prospects, growth, strategies and the silver and gold
industries are forward-looking statements. Such forward-looking
statements involve risk and uncertainty because they relate to
future events and circumstances. Forward-looking statements are not
guarantees of future performance and the actual results of the
Fresnillo Group's operations, financial position and liquidity, and
the development of the markets and the industry in which the
Fresnillo Group operates, may differ materially from those
described in, or suggested by, the forward-looking statements
contained in this document. In addition, even if the results of
operations, financial position and liquidity, and the development
of the markets and the industry in which the Fresnillo Group
operates are consistent with the forward-looking statements
contained in this document, those results or developments may not
be indicative of results or developments in subsequent 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 (including the
US dollar and Mexican Peso exchanges rates), the Fresnillo Group's
ability to recover its reserves or develop new reserves, including
its ability to convert its resources into reserves and its mineral
potential into resources or reserves, changes in its business
strategy and political and economic uncertainty.
(1) Operations at Soledad-Dipolos are currently suspended.
LEI: 549300JXWH1UV5J0XV81
This information is provided by RNS
The company news service from the London Stock Exchange
END
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