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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Kalahari Min | LSE:KAH | London | Ordinary Share | GB00B117S132 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 243.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMKAH Kalahari Minerals plc / Ticker: KAH / Index: AIM / Sector: Mining & Exploration 20 March 2012 Kalahari Minerals plc (`Kalahari' or `the Company') Change in Directorate Kalahari Minerals plc, the AIM listed resource company, announces the following changes to its Board following the recommended cash offer for the Company by Taurus Mineral Limited ('Taurus') (a company formed at the direction of CGNPC Uranium Resources Co., Ltd ('CGNPC-URC') and the China-Africa Development Fund ('CADFund') being declared closed on 28 February 2012. Mr. Mark Hohnen, who has held the position of Executive Chairman, will become a Non-executive Director of the Company with immediate effect. Mr. Neil MacLachlan and Mr. David Weill have resigned today as Non-executive Directors of the Company with immediate effect. On 16 February 2012 the Company announced that Taurus would seek to appoint five representatives to the Board of Kalahari. The Company is now pleased to announce that it has today approved the following appointments as new Directors, to take effect immediately: 1. Mr. Zhiping Yu (???); 2. Mr. Zuyuan He (???); 3. Mr. Zhirong Hu (???); 4. Mr. Qiming Chen (???); and 5. Mr. Jun Luo (??). Mr. Zhiping Yu, aged 48, has over two years of experience acting as General Manager of CGNPC-URC. Mr. Yu is also a Director of Taurus and is Chairman to the following companies: CGNPC Uranium (Xinjiang) Company Limited; CGNPC Uranium (Guandong) Company Limited; China Uranium Development Company Limited; and CGN Mining Company Limited. During the previous five years, Mr. Yu has held the position of General Manager of the strategic planning department at China Guandong Nuclear Power Holding Company. Mr. Zuyuan He, aged 46, has over 21 years of experience in uranium exploration and financial management and is Deputy General Manager of CGNPC-URC. Mr. He is also currently a Director of the following companies: Taurus; Beijing Sino-Kaz Uranium Resources Investment Company Limited; China Uranium Development Company Limited; CGN Mining Company Limited; Energy Metals Limited; and 'Semizbay-U' LLP. During the previous five years, Mr. He has held the following positions: Finance Controller and Manager of the department of capital operation of Beijing Changxin state-owned assets investment and operation Company; Manager of the financial and planning department at CGNPC-URC; and Chief Financial Officer of CGNPC-URC. Mr. Zhirong Hu, aged 41, currently has over four years of experience acting as Vice-President of CADFund, where he is responsible for investment and risk management decisions. Mr. Hu is also a Director of the following companies: Taurus; China-Africa Xinxing Investment Limited; Zheng Da Investment Limited; Hua Lien International (holding) Company Limited; and China-Africa Investment & Development Limited. During the previous five years, Mr. Hu has held the positions of Deputy Head of the appraisal management bureau and Section Head of credit management, each at the China Development Bank. Mr. Qiming Chen, aged 49, currently has over three years of experience acting as General Manager of the corporate financing and M&A department of China Guandong Nuclear Power Holding Company Limited. During the previous five years, Mr. Chen has held the position of Managing Director of the contract and procurement departments at each of Liaoning Hongyanhe Nuclear Power Company Limited and China Nuclear Power Engineering Company Limited. Mr. Jun Luo, aged 37, currently has three years of experience acting as Assistant General Manager of China Guangdong Nuclear Power Finance Company Limited. During the previous five years, Mr. Luo has held the position of Treasurer of the financial department at China Guangdong Nuclear Power Finance Company Limited. None of the above newly appointed Directors currently hold any shareholdings in the Company. Following these changes the Board will consist of Mr. Zhiping Yu as Chairman and Mr. Zuyuan He, Mr. Zhirong Hu, Mr. Qiming Chen, Mr. Jun Luo and Mr. Mark Hohnen as Directors. There are no further matters which are required to be announced with regard to the appointments under paragraph (g) of schedule 2 of the AIM Rules. Cancellation of listing On 5 March 2012 the Company announced that pursuant to AIM Rule 41 it had applied to the London Stock Exchange for the cancellation of admission to trading of its ordinary shares of 1 pence each in the capital of Kalahari on AIM. The Company confirms that, upon successful completion of the compulsory acquisition, which is expected to conclude on 3 April 2012, it intends to proceed with the cancellation of the AIM quote. Such cancellation is expected to be effective from 7.00am on 4 April 2012 or as soon as practicable thereafter. * * ENDS * * For further information please visit www.kalahari-minerals.com or contact: Mark Hohnen Kalahari Minerals plc Tel: +44 (0)20 7292 9110 Simon Raggett Strand Hanson Limited Tel: +44 (0)20 7409 3494 Rory Murphy Strand Hanson Limited Tel: +44 (0)20 7409 3494 Hugo de Salis St Brides Media & Finance Ltd Tel: +44 (0)20 7236 1177 Susie Geliher St Brides Media & Finance Ltd Tel: +44 (0)20 7236 1177 END
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