Stratex International PLC Confirmation of Interim CEO Appointment (5616X)

TIDMSTI

RNS Number : 5616X

Stratex International PLC

27 November 2017

Stratex International Plc

('Stratex' or 'the Company')

Confirmation of Interim CEO Appointment

Stratex, the AIM-quoted gold exploration and development company, announces that further to the announcement dated 8 November 2017 and completion of standard regulatory due diligence, Dr Bob Foster has been appointed to the Board of Stratex as interim CEO with immediate effect.

Bob Foster has over 40 years' experience as a professional economic geologist in exploration, mining, and applied academic posts, and has particular expertise in the genesis of and exploration for gold deposits, having worked in Europe, Central Asia, North and South America, and throughout Africa. Following ten years in the mining industry in Rhodesia (now Zimbabwe) he joined Southampton University in 1984 where he subsequently devoted more than 15 years to lecturing and managing a large applied research group investigating ore-forming processes and mineral exploration strategies on regional and area scales and within operating mines. He has published numerous scientific and technical papers and has been an invited keynote speaker at many international scientific and technical conferences around the world.

During his time at Southampton University he also undertook numerous consultancy projects with major and junior mining companies and was a founding member of the management team of Pan-African Mining Pvt Ltd that developed the open pit Ayrshire gold mine in Zimbabwe in 1991-1996. He also directed a major gold exploration programme for associated company Pan-Reef Mining in Zimbabwe during 1994-1996. From 1998 until 2004 he was Minerals Manager for consultancy group Exploration Consultants Ltd. Bob co-founded Stratex in 2004 and was formerly CEO until September 2016.

Further details on Dr Bob Foster

Robert Peter Foster (aged 69) is, or has been, a director or partner of the following companies or partnerships during the past five years:

 
 Current directorships      Past directorships and 
  and partnerships           partnerships 
-------------------------  --------------------------------- 
 Equator Gold Limited       Stratex Madencilik Sanayi 
                             ve Ticaret Limited Sirketi 
-------------------------  --------------------------------- 
 Bob Foster & Associates    Altintepe Madencilik Sanayi 
  Ltd                        ve Ticaret Anonim Sirketi 
-------------------------  --------------------------------- 
 Ground Truth Ltd           Goldstone Resources Limited 
-------------------------  --------------------------------- 
 Ground Modelling           Stratex Gold AG 
  Technologies Ltd 
-------------------------  --------------------------------- 
 Resource Exploration       Stratex West Africa Limited 
  and Development (Pty) 
  Ltd 
-------------------------  --------------------------------- 
 Rockover Resources         Stratex Exploration Limited 
  Ltd 
-------------------------  --------------------------------- 
 Rovuma Holdings Ltd        Stratex International 
                             Plc 
-------------------------  --------------------------------- 
 Rockover Mozambique        Tembo Gold Corp. 
  Limitada 
-------------------------  --------------------------------- 
 Rovuma Resources           Muratdere Madencilik Sanayi 
  Ltd                        ve Ticaret Anonim Sirketi 
-------------------------  --------------------------------- 
 Rovuma Resources           Stratex East Africa Limited 
  Limitada 
-------------------------  --------------------------------- 
 Cabo Delgado Exploration   Oksut Madencilik Sanayi 
  Limited                    ve Ticaret Anonim Sirketi 
-------------------------  --------------------------------- 
                            Tasifye Halinde NS Madencilik 
                             Sanayi ve Ticaret Anonim 
                             Sirketi (formerly NS Madencilik 
                             Sanayi ve Ticaret Anonim 
                             Sirketi) 
-------------------------  --------------------------------- 
 

Bob Foster has a beneficial interest in 7,719,404 ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares"), representing 1.65 per cent of the issued share capital of the Company. Bob Foster also holds options over 5,003,577 Ordinary Shares.

There is no further information required to be disclosed in respect of the above appointment pursuant to Schedule 2 (g) of the AIM Rules for Companies.

* * ENDS * *

For further information please visit www.stratexinternational.com, @StratexPLC on Twitter, email [e-mail], or contact:

 
 Stratex International Plc    Tel: [phone] 
 Bob Foster / Claire Bay 
 Grant Thornton UK LLP        Tel: [phone] 
 Samantha Harrison / Daniel Bush 
 Hannam & Partners            Tel: [phone] 
 Neil Passmore / Andrew 
  Chubb 
 Camarco                      Tel: [phone] 
 Gordon Poole / Nick Hennis 
  / Monique Perks 
 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

This information is provided by RNS

The company news service from the London Stock Exchange

END

BOALIFERLSLDFID

(END) Dow Jones Newswires

November 27, 2017 02:00 ET (07:00 GMT)