Kenmare Resources Board Update

 
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: [phone] 
 
 
   Mob: + 353 87 674 0110 
 
 
   Tony McCluskey, Financial Director 
 
   Tel: [phone] 
 
 
   Mob: + 353 87 674 0346 
 
   Jeremy Dibb, Corporate Development and Investor Relations Manager 
 
   Tel: [phone] 
 
   Mob: + 353 87 943 0367 
 
   Murray 
 
 
   Joe Heron / Aimee Beale 
 
 
   Tel: [phone] 
 
 
   Mob: [phone] 
 
 
   Buchanan 
 
   Bobby Morse / Chris Judd 
 
   Tel: [phone] 
 
   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)

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