Kenmare Resources Board Update
October 14 2016 - 2:01AM
UK Regulatory
TIDMKMR
Kenmare Resources plc ("Kenmare" or "the Company")
14 October 2016
Board Update
Kenmare Resources plc is pleased to announce that Mr. Tim Keating and
Mr. Graham Martin have been appointed as Non-Executive Directors with
immediate effect. Mr. Martin has also agreed to take on the role of
chair of the Board's remuneration committee from Ms. Elizabeth Headon,
who will remain a member of the remuneration committee.
Mr. Tim Keating was nominated as a Non-Executive Director by African
Acquisitions Sarl in accordance with the Subscription and Relationship
Agreement entered into on 18 June 2016 by African Acquisitions and
Kenmare, pursuant to which African Acquisitions became Kenmare's largest
shareholder. He is Head of Mining Investment Private Equity at the State
General Reserve Fund (SGRF), a sovereign wealth fund of the Sultanate of
Oman. Mr. Keating joined SGRF in 2015 from Madini Mineral Resources,
where he was head of new business development and responsible for
identifying, negotiating and structuring acquisitions and investments in
private and listed companies. Prior to Madini, he was CEO of African
Nickel Limited (2010-2013), where he grew the business through various
transactions and fund raisings. He also worked at Investec Bank for the
Commodities and Resource Finance Team (2004-2010), and in the Black
Mountain Mine owned by Anglo American plc, in South Africa.
Mr. Graham Martin is an experienced natural resources executive and
brings a wealth of relevant expertise having served as an executive
director, General Counsel and Company Secretary at Tullow Oil plc, an
oil and gas exploration and production company listed on the London,
Irish and Ghanaian Stock Exchanges. From 1997 until 2016, Mr. Martin
was heavily involved in the growth of Tullow into a FTSE100 business,
and in the company's active M&A programme, including the US$2.9 billion
disposal of assets in Uganda. Prior to Tullow, Mr. Martin was a partner
at the US energy law firm Vinson & Elkins LLP, having started his legal
career in Scotland.
Following the successful completion of the recapitalisation of Kenmare
in July 2016, Mr. John Ensall, who was appointed as the Lender Approved
Non-Executive Director in July 2015, has stepped down from the Board
with immediate effect.
Commenting on the Board changes, Steven McTiernan, Chairman of Kenmare
said:
"As the Company looks forward, we welcome the inclusion of both Tim and
Graham to the Board of Kenmare. They provide considerable industry
experience, a deep understanding of operating in Africa and top level
governance experience. We look forward to working with them both.
I would also like to thank John for his invaluable contribution during
his tenure as Lender Appointed Non-Executive Director. He played a
significant and pivotal role in the execution of Kenmare's refinancing,
and we wish him well in his future endeavours."
There are no further details in respect of Mr. Keating or Mr. Martin
requiring disclosure under UK Listing Rules 9.6.13(2) to 9.6.13(6)
inclusive.
For further information, please contact:
Kenmare Resources plc
Michael Carvill, Managing Director
Tel: +353 1 671 0411
Mob: + 353 87 674 0110
Tony McCluskey, Financial Director
Tel: +353 1 671 0411
Mob: + 353 87 674 0346
Jeremy Dibb, Corporate Development and Investor Relations Manager
Tel: +353 1 671 0411
Mob: + 353 87 943 0367
Murray
Joe Heron / Aimee Beale
Tel: +353 1 498 0300
Mob: +353 87 690 9735
Buchanan
Bobby Morse / Chris Judd
Tel: +44 207 466 5000
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Kenmare Resources via Globenewswire
http://www.kenmareresources.com/
(END) Dow Jones Newswires
October 14, 2016 02:01 ET (06:01 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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