Hochschild Mining PLC Board Appointment and Changes to Directors' Roles (7769Z)

TIDMHOC

RNS Number : 7769Z

Hochschild Mining PLC

19 December 2017

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19 December 2017

Board Appointment and Changes to Directors' Roles & Committee Composition

Hochschild Mining plc (the "Company") announces that Dionisio Romero Paoletti, Chairman & CEO of the banking group Credicorp, will join the Company's Board as a Non-Executive Director from 1 January 2018.

Mr Romero has been appointed as a nominee of the Company's majority shareholder Pelham Investment Corporation ("Pelham"), which is controlled by Eduardo Hochschild, pursuant to the rights granted to Pelham under the Relationship Agreement.

Changes to Directors' Roles & Committee Composition

The Company also confirms that with effect from 1 January 2018:

a) Michael Rawlinson will assume the roles of Senior Independent Director and Chairman of the Remuneration Committee to succeed Enrico Bombieri following his retirement from the Board;

   b)    Eileen Kamerick will become a member of the Remuneration Committee; and 

c) Graham Birch, Eileen Kamerick, Michael Rawlinson and Dionisio Romero will join the Nominations Committee.

Eduardo Hochschild, Chairman said:

"I am delighted to be able to welcome Dionisio to the Hochschild Board. He brings vast business experience from diverse industries throughout Latin America and I look forward to his participation. I am also pleased to be able to confirm Michael Rawlinson's appointment to the role of Senior Independent Director following Enrico Bombieri's decision to retire from the Board at the end of the year."

From 1 January 2018, the Board will comprise eight directors of whom five will be independent Non-Executive Directors.

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Notes

Dionisio Romero (Jnr) is Chairman & CEO of Credicorp and its subsidiary, Banco de Crédito del Peru ("BCP"), Peru's largest bank. Mr. Romero has served as a board member of BCP since 2003 and was appointed Vice Chairman in 2008 and Chairman in 2009.

Mr Romero is also the Chairman of a number of Credicorp group companies, namely Banco de Crédito de Bolivia, El Pacifico-Peruano Suiza Cia. de Seguros y Reaseguros S.A., El Pacifico Vida Cia. de Seguros y Reaseguros S.A. In addition, Mr Romero is Chairman of Alicorp S.A.A. and a Director of a number of companies including the following publicly listed companies: Inversiones Centenario (where he serves as Vice-Chairman), Cementos Pacasmayo S.A.A and Sierra Metals Inc.

Mr. Romero is an economics graduate of Brown University and has an MBA from Stanford University.

Other than as set out above and Mr Romero's former directorship of Banco de Credito e Inversiones (Chile), there are no matters to be disclosed under Listing Rule 9.6.13R.

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Enquiries:

Hochschild Mining plc

Charles Gordon [phone]

Head of Investor Relations

Hudson Sandler

Charlie Jack [phone]

Public Relations

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About Hochschild Mining plc

Hochschild Mining plc is a leading precious metals company listed on the London Stock Exchange (HOCM.L / HOC LN) with a primary focus on the exploration, mining, processing and sale of silver and gold. Hochschild has over fifty years' experience in the mining of precious metal epithermal vein deposits and currently operates four underground epithermal vein mines, three located in southern Peru and one in southern Argentina. Hochschild also has numerous long-term projects throughout the Americas.

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Forward looking statements

This announcement may contain forward looking statements. By their nature, forward looking statements involve risks and uncertainties because they relate to events and depend on circumstances that will or may occur in the future. Actual results, performance or achievements of Hochschild Mining plc may, for various reasons, be materially different from any future results, performance or achievements expressed or implied by such forward looking statements.

The forward looking statements reflect knowledge and information available at the date of preparation of this announcement. Except as required by the Listing Rules and applicable law, the Board of Hochschild Mining plc does not undertake any obligation to update or change any forward looking statements to reflect events occurring after the date of this announcement. Nothing in this announcement should be construed as a profit forecast.

Note

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (Regulation (EU) No.596/2014). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

LEI: 549300JK10TVQ3CCJQ89

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December 19, 2017 05:04 ET (10:04 GMT)