Fresnillo PLC Board Changes (4173E)

TIDMFRES

RNS Number : 4173E

Fresnillo PLC

27 February 2020

Fresnillo plc

21 Upper Brook Street

London W1K 7PY

United Kingdom

www.fresnilloplc.com

27 February 2020

Fresnillo plc - Board Changes

Fresnillo plc (the "Company") announces that the Nominations Committee has recommended to the board of directors of the Company ("the Board"), and the Board has agreed, that Ms. Myriam Guadalupe De la Vega be proposed for election as an independent non-executive director of the Company at the 2020 annual general meeting, which is due to be held on 29 May 2020 (the "AGM"), with her appointment to take effect from the conclusion of the AGM, if approved.

Ms. De la Vega is Managing Director and CEO of Almacenes Distribuidores de la Frontera, which owns and operates a chain of convenience stores, gas stations, and medium format supermarkets in the north of Mexico. She is also the Managing Director of Maximus Inmobiliaria, the real estate and management company of Grupo De la Vega. Prior to assuming these responsibilities, in 2006 she was Managing Director of Carta Blanca de Cd. Juárez, the second largest beer distributorship in Mexico.

Ms. De la Vega is one of the founders and major stockholders of Domino's Pizza Cd. Juarez and Altec Purificacion (a water bottling company). She serves on the board of Citibanamex and is Vicepresident of COPARMEX Nacional (the Mexican Employers Confederation). She is on the Regional Board of Banco de Mexico as well as on the board of the Paso del Norte Health Foundation.

She is a shareholder and board member of Juárez Fútbol Club (Bravos Mayor Soccer League Team). She is a board member of Fundación del Empresario Chihuahuense and is also on the board of the Museo del Barrio in New York. She was recently appointed to serve on the board of ITESM and EISAC (Tec de Monterrey - one of the largest private university systems in Mexico).

In addition to a strong commitment with communities particularly through small companies such as FEMAP (a NGO focused on health and community development), Fundacion del Empresariado Chihuahuense (FECHAC) and Paso del Norte Health Foundation, Ms. De la Vega has been highly involved in promoting economic and community development as part of the task force for Juarez Social and Economic Recovery Plan, working with the government to help realign major infrastructure assets along with education in order to improve the region's competitiveness.

Ms. De la Vega holds a BA and MBA from the University of Texas, Austin.

The Company also announces that Mr Jaime Lomelín has retired from the Board with effect from 26 February 2020. Mr Lomelín will continue to act as an adviser to the Chairman and the Board.

The Nominations Committee has also recommended to the Board and the Board has agreed that Ms. Georgina Kessel be appointed as a member of the Health, Safety, Environment and Community Relations Committee with immediate effect.

Fresnillo plc Chairman Alberto Baillères said of Ms. De La Vega's appointment: "I am delighted that Guadalupe De la Vega has agreed to join the Board. Her extensive executive experience in different Mexican companies and her commitment to community activities will bring valuable and useful perspectives to the work of the Board. I look forward to welcoming her to the Board following the 2020 AGM".

Commenting on Mr Lomelín's retirement from the Board, Mr Baillères said "I am grateful to Jaime Lomelín for his wise counsel and valuable contributions to the Board over many years. I am delighted that he will still be available to advise us and would like to take the opportunity to thank him for his considerable service to the Company."

For further information, please visit our website www.fresnilloplc.com or contact:

 
 Fresnillo plc                       Tel: [phone] 
  London Office 
  Gabriela Mayor, Head of Investor 
  Relations 
  Patrick Chambers 
 Mexico City Office                  Tel: [phone] 
  Ana Belem Zárate 
 
   Powerscourt                         Tel: [phone] 
   Peter Ogden 
 

About Fresnillo plc

Fresnillo plc is the world's largest primary silver producer and Mexico's largest gold producer, listed on the London and Mexican Stock Exchanges under the symbol FRES.

Fresnillo plc has seven operating mines, all of them in Mexico - Fresnillo, Saucito, Ciénega (including the San Ramón satellite mine), Herradura, Soledad-Dipolos(1) , Noche Buena and San Julián (Phase I and II), two development projects - the Pyrites Plant at Fresnillo and Juanicipio, and three advanced exploration projects - Orisyvo, Las Casas Rosario & Cluster Cebollitas and Centauro Deep, as well as a number of other long term exploration prospects. In total, Fresnillo plc has mining concessions covering approximately 1.8 million hectares in Mexico and 700 thousand hectares in Peru.

Fresnillo plc has a strong and long tradition of exploring, mining, a proven track record of mine development, reserve replacement, and production costs in the lowest quartile of the cost curve for silver.

Fresnillo plc's goal is to maintain the Group's position as the world's largest primary silver company and Mexico's largest gold producer.

Forward Looking Statements

Information contained in this announcement may include 'forward-looking statements'. All statements other than statements of historical facts included herein, including, without limitation, those regarding the Fresnillo Group's intentions, beliefs or current expectations concerning, amongst other things, the Fresnillo Group's results of operations, financial position, liquidity, prospects, growth, strategies and the silver and gold industries are forward-looking statements. Such forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. Forward-looking statements are not guarantees of future performance and the actual results of the Fresnillo Group's operations, financial position and liquidity, and the development of the markets and the industry in which the Fresnillo Group operates, may differ materially from those described in, or suggested by, the forward-looking statements contained in this document. In addition, even if the results of operations, financial position and liquidity, and the development of the markets and the industry in which the Fresnillo Group operates are consistent with the forward-looking statements contained in this document, those results or developments may not be indicative of results or developments in subsequent periods. A number of factors could cause results and developments to differ materially from those expressed or implied by the forward-looking statements including, without limitation, general economic and business conditions, industry trends, competition, commodity prices, changes in regulation, currency fluctuations (including the US dollar and Mexican Peso exchanges rates), the Fresnillo Group's ability to recover its reserves or develop new reserves, including its ability to convert its resources into reserves and its mineral potential into resources or reserves, changes in its business strategy and political and economic uncertainty.

(1) Operations at Soledad-Dipolos are currently suspended.

LEI: 549300JXWH1UV5J0XV81

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February 27, 2020 13:20 ET (18:20 GMT)