15th Feb 2019 13:27
LONDON (Alliance News) - Lonmin PLC said Friday that it has appointed Sizwe Nkosi as non-independent non-executive director of the company, effective March 1.
Nkosi - a chartered accountant - is the chief financial officer of Phembani Group Pty Ltd, Lonmin's Black Economic Empowerment partner, and was nominated to the board as part of the contractual arrangement with Phembani.
The platinum producer said Nkosi will replace Kennedy Bungane as Phembani's nominee on the board. However, in light of Bungane's skills, experience and commitment, Lonmin said, the company has requested and Bungane has agreed to remain as non-executive director.
London-listed shares in Lonmin were trading up 2.0% at 65.15 pence each on Friday, while in Johannesburg, the stock was down 4.2% at ZAR11.90.
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