Stratmin Global Resources PLC Board Changes (2234P)
February 16 2016 - 7:15AM
UK Regulatory
TIDMSTGR
RNS Number : 2234P
Stratmin Global Resources PLC
16 February 2016
16 February 2016
StratMin Global Resources Plc
("StratMin" or the "Company")
Board Changes
StratMin Global Resources Plc (AIM: STGR), London's only listed
graphite production and exploration company, announces that with
the continued drive to cut corporate costs the Board has been
reduced to three directors. Mr Laurie Hunter, Non-executive
Chairman, and Mr Jeffrey Marvin, Non-executive Director, have
stepped off the board of the Company (the "Board") with immediate
effect. Mr Brett Boynton, currently Chief Executive Officer, will
assume the role of interim Executive Chairman and Chief Executive
Officer. Mr Shishir Poddar remains as an Executive Director and Mr
David Premraj as a Non-executive Director.
Mr Hunter's extensive connections and experience in Madagascar
have been of great value to the Company. He successfully steered
the Board during the transition from exploration to production and
we wish him well and thank him for his contribution to the
development of StratMin.
Mr Marvin is a director of Bass Metals Ltd ("Bass") (ASX:BSM),
which holds a 6.25% interest in the Company's 93.75% subsidiary,
Graphmada Mauritius. Mr Marvin will step into an executive role
with Bass to assist in completing the investment agreement between
Bass and StratMin first announced on 2 September 2015 (the
"Investment Agreement"). The terms of the Investment Agreement
restrict common directors in acting in an executive capacity for
either StratMin or Bass and Mr Marvin has therefore stepped off the
StratMin Board to avoid any potential conflict in this transaction.
The Company looks forward to a continued working relationship with
Mr Marvin in his new role at Bass.
Brett Boynton, Executive Chairman and CEO, commented
"Once again, on behalf of the Company, I would like to thank
Laurie and Jeff for their commitment to Stratmin over the years
which has seen the company successfully transition from developer
to producer. We wish Laurie well in his new ventures and look
forward to seeing Jeff in his executive capacity at Bass."
For further information please visit www.stratminglobal.com or
contact:
StratMin Global Resources Plc
Brett Boynton, Executive Chairman +44 (0) 20
& CEO 3691 6160
Strand Hanson (Nominated & Financial
Adviser)
Rory Murphy / James Spinney / +44 (0) 20
Ritchie Balmer 7409 3494
Beaufort Securities (Broker) +44 (0) 20
Jon Bellis 7382 8300
This information is provided by RNS
The company news service from the London Stock Exchange
END
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