TIDMFRES
RNS Number : 4173E
Fresnillo PLC
27 February 2020
Fresnillo plc
21 Upper Brook Street
London W1K 7PY
United Kingdom
www.fresnilloplc.com
27 February 2020
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. Myriam Guadalupe
De la Vega be proposed for election as an independent non-executive
director of the Company at the 2020 annual general meeting, which
is due to be held on 29 May 2020 (the "AGM"), with her appointment
to take effect from the conclusion of the AGM, if approved.
Ms. De la Vega is Managing Director and CEO of Almacenes
Distribuidores de la Frontera, which owns and operates a chain of
convenience stores, gas stations, and medium format supermarkets in
the north of Mexico. She is also the Managing Director of Maximus
Inmobiliaria, the real estate and management company of Grupo De la
Vega. Prior to assuming these responsibilities, in 2006 she was
Managing Director of Carta Blanca de Cd. Juárez, the second largest
beer distributorship in Mexico.
Ms. De la Vega is one of the founders and major stockholders of
Domino's Pizza Cd. Juarez and Altec Purificacion (a water bottling
company). She serves on the board of Citibanamex and is
Vicepresident of COPARMEX Nacional (the Mexican Employers
Confederation). She is on the Regional Board of Banco de Mexico as
well as on the board of the Paso del Norte Health Foundation.
She is a shareholder and board member of Juárez Fútbol Club
(Bravos Mayor Soccer League Team). She is a board member of
Fundación del Empresario Chihuahuense and is also on the board of
the Museo del Barrio in New York. She was recently appointed to
serve on the board of ITESM and EISAC (Tec de Monterrey - one of
the largest private university systems in Mexico).
In addition to a strong commitment with communities particularly
through small companies such as FEMAP (a NGO focused on health and
community development), Fundacion del Empresariado Chihuahuense
(FECHAC) and Paso del Norte Health Foundation, Ms. De la Vega has
been highly involved in promoting economic and community
development as part of the task force for Juarez Social and
Economic Recovery Plan, working with the government to help realign
major infrastructure assets along with education in order to
improve the region's competitiveness.
Ms. De la Vega holds a BA and MBA from the University of Texas,
Austin.
The Company also announces that Mr Jaime Lomelín has retired
from the Board with effect from 26 February 2020. Mr Lomelín will
continue to act as an adviser to the Chairman and the Board.
The Nominations Committee has also recommended to the Board and
the Board has agreed that Ms. Georgina Kessel be appointed as a
member of the Health, Safety, Environment and Community Relations
Committee with immediate effect.
Fresnillo plc Chairman Alberto Baillères said of Ms. De La
Vega's appointment: "I am delighted that Guadalupe De la Vega has
agreed to join the Board. Her extensive executive experience in
different Mexican companies and her commitment to community
activities will bring valuable and useful perspectives to the work
of the Board. I look forward to welcoming her to the Board
following the 2020 AGM".
Commenting on Mr Lomelín's retirement from the Board, Mr
Baillères said "I am grateful to Jaime Lomelín for his wise counsel
and valuable contributions to the Board over many years. I am
delighted that he will still be available to advise us and would
like to take the opportunity to thank him for his considerable
service to the Company."
For further information, please visit our website
www.fresnilloplc.com or contact:
Fresnillo plc Tel: +44 (0)20 7399 2470
London Office
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 1446
Peter Ogden
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-Dipolos(1) , Noche Buena and San Julián
(Phase I and II), two development projects - the Pyrites Plant at
Fresnillo and Juanicipio, and three advanced exploration projects -
Orisyvo, 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 and 700 thousand
hectares in Peru.
Fresnillo plc has a strong and long tradition of exploring,
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 and Mexico's largest gold
producer.
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
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END
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