Stratmin Global Resources PLC Appointment of New Non-Executive Chairman (1289C)
March 12 2014 - 8:01AM
UK Regulatory
TIDMSTGR
RNS Number : 1289C
Stratmin Global Resources PLC
12 March 2014
12 March 2014
Stratmin Global Resources Plc
("Stratmin" or the "Company")
Appointment of New Non-Executive Chairman
Stratmin (AIM: STGR), the graphite production and exploration
company with assets in Madagascar, today announces that Mr. Gobind
Sahney is passing on the role of Non-Executive Chairman to Mr. John
Laurie Hunter ("Laurie") and will be resigning from the Board with
immediate effect. The Board of Stratmin is unanimous in its thanks
to Gobind for all his work with Stratmin and its predecessor
company. Gobind will continue to provide consultancy services to
the Board.
Laurie has over 40 years' experience in the financial and
natural resource industries. He was CEO and Chairman of Madagascar
Oil Limited (AIM: MOIL) ("Madagascar Oil"), the principal onshore
oil company in Madagascar, from 2008 to 2012. During this time he
was responsible for overseeing a significant increase in its
resource base, the IPO of Madagascar Oil at a $280m pre-money
valuation in November 2010 and raising in excess of $100m funding.
He also led the successful process to confirm the legitimacy of the
company's licenses. Laurie has a deep understanding of Madagascar,
which is further supported by his extensive connections in the
country.
Laurie has held senior management and board positions at several
other resource companies during his career and has extensive
investment banking experience. Laurie also holds a MA joint honours
degree in Politics, Philosophy and Economics from Trinity College,
Oxford.
Manoli Yannaghas, Stratmin's Managing Director, said:
"Gobind has played an integral part in Stratmin's development.
His skills and expertise in guiding the Company through the early
stages and its current challenges have left us in a strong position
from which to build. I would like to take this opportunity to thank
Gobind for his efforts and we wish him every success in his future
endeavours.
"We are delighted to appoint Laurie as the new Non-Executive
Chairman of Stratmin. His experience and in-country knowledge of
Madagascar, we believe, will prove invaluable to the Company. His
achievements during his time at Madagascar Oil highlight his
capability in helping to guide and manage AIM listed companies,
such as Stratmin.
"We have reached a key milestone, with production expected next
month, and I look forward to working with Laurie as we enter into
this new and exciting stage of the Company's development."
Gobind Sahney, former Non-Executive Chairman, commented:
"It has been a long year since we completed the acquisition of
Graphmada and given all of the challenges, I am pleased to make
this transition at a point when I feel we now have the right
individuals in place to take the Company to the next level for the
benefit of all shareholders."
Laurie Hunter, newly appointed Non-Executive Chairman,
commented:
"I am very pleased to join the Board of Stratmin at this
important stage of its development. I look forward to utilising my
experience in Madagascar and working with the team to develop the
Company's commercial prospects."
John Laurie Hunter (aged 67):
Current directorships/partnerships: Past
directorships/partnerships (past 5 years):
Living Cell Technologies Limited Madagascar Oil Limited
Hunter Capital LLC Trident Exploration Corp.*
Direct Petroleum Exploration Inc.
Trident Resources Corp.*
Trident USA Corp.
Sulphur River Partners
*From 2009 to 2010 Mr. Hunter was a director of Trident
Resources Corp. and Trident Exploration Corp., during which time
both companies were in reorganization under the US Code Chapter 11.
Mr Hunter was appointed to represent the interests of the equity
shareholders. The Plan of Reorganisation for each company was
approved in June 2010 with Mr. Hunter's efforts.
No further information is required pursuant to Schedule 2(g) of
the AIM Rules for Companies.
For further information please visit www.stratminglobal.com or
contact:
+44 (0) 20 7467
Stratmin Global Resources Plc 1700
Manoli Yannaghas (Managing Director)
Strand Hanson Limited (Nominated & Financial +44 (0) 20 7409
Adviser) 3494
James Spinney / Ritchie Balmer
Hume Capital Securities Plc (Sole Broker) +44 (0) 20 3693
Jon Belliss / Abigail Wayne 1470
Blytheweigh (Financial PR) +44 (0) 20 7138
Tim Blythe / Halimah Hussain / Camilla Horsfall 3204
-ends-
This information is provided by RNS
The company news service from the London Stock Exchange
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