8th Mar 2006 11:58
Central African Gold PLC08 March 2006 08 March 2006 CENTRAL AFRICAN GOLD PLC APPOINTS NEW CEO AND FINANCE DIRECTOR Central African Gold Plc ('CAG' or 'the Company'), the AIM listed mining andexploration company, has appointed Greg Hunter as its new Chief ExecutiveOfficer ('CEO') and Mark Rosslee as its Finance Director. Phil Edmonds maintainshis position as Chairman. Gregory David Hunter (aged 41), who has a B.Sc in Mining Engineering, has workedextensively in the resource sector in both financial and technical capacities.He was formerly CEO of Southern African resource company Metallon Gold and adirector of Ridge Mining plc. Prior to this he was head of mining research atDeutsche Securities focused primarily on gold and platinum and also spent twoyears at UAL Merchant Bank as resource equity analyst. He also spent a number ofyears with Anglogold-Ashanti. Mark William Rosslee (aged 44), a Chartered Accountant with a graduate diplomain Mining Engineering, was Finance Director of Metallon Gold, having been theChief Financial Officer at both Southern Era Diamonds Limited and SouthernPlatinum Limited. He gained extensive experience in the mining industry with theDe Beers group at both a corporate and operational level over a period of 12years. It is anticipated that a team of highly experienced South African based miningprofessionals with business, financial, engineering and geological expertisewill be joining Greg. This provides the skills and technology to assist CAG indeveloping its extensive exploration properties in Mali and Botswana and pursuean aggressive growth strategy in Africa. Central African Gold Plc CEO Greg Hunter said: "I'm very excited to join CAG andlook forward to working closely with my co-directors, who have very strongconnections in Africa, to rapidly expand the portfolio by acquiring advancedprojects that can be brought into production in the short to medium term. Withconsiderable expertise in remote sensing, GIS and structural geology, CAG willbe well positioned to focus on new mineral discoveries while also adding valueto the current portfolio." Central African Gold Plc Chairman Phil Edmonds said: "We are thrilled that Gregand his team are joining CAG. We already have a portfolio in Mali and Botswana,which the new team will assist in advancing and we will also look for furtheropportunities to develop. Between us I believe we now have the connections,experience and mining expertise to deliver our vision of building CAG into aleading mining house in Africa." The following share options have been granted to Messrs Hunter and Rosslee at anexercise price of 3.75p per share based on an average of the last 6 monthsclosing mid-market price: Mr Hunter: 2,000,000 options exercisable from 6 March 2006 to 5 March 20112,000,000 options exercisable from 6 March 2007 to 5 March 20122,000,000 options exercisable from 6 September 2007 to 5 September 20122,000,000 options exercisable from 6 March 2008 to 5 March 2013 Mr Rosslee: 1,250,000 options exercisable from 6 March 2006 to 5 March 20111,250,000 options exercisable from 6 March 2007 to 5 March 20121,250,000 options exercisable from 6 September 2007 to 5 September 20121,250,000 options exercisable from 6 March 2008 to 5 March 2013 Mr Hunter holds, or has in the last five years held, the followingdirectorships: Current Directorships Past DirectorshipsBuffalo Mountain Ranching (Pty) Limited African Pioneer Mining (Pty) Limited Metallon Aviation (Pty) Limited Metallon Gold (Pty) Limited Metallon Resources (Pty) Limited Metallon Coal (Pty) Limited Metallon Platinum (Pty) Limited Metallon Corporation Limited Metallon Zimbabwe (Pty) Limited Ridge Mining Plc Mr Rosslee holds, or has in the last five years held, the followingdirectorships: Current Directorships Past DirectorshipsTekiba 10 (Pty) Limited Metallon Gold (Pty) Limited Messina Limited Messina Platinum Mines (Pty) Limited SouthernEra Mining and Exploration (Pty) Limited SouthernEra Management Services (Pty) Limited There is no further information required to be disclosed in respect of the aboveappointments pursuant to Schedule Two paragraph (g) of the AIM Rules. ** E N D S** Contacts:Phil Edmonds Central African Gold Plc Tel: 0845 108 6060Hugo de Salis St. Brides Media & Finance Ltd Tel: 020 7242 4477 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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