18th Apr 2007 10:25
Albidon Limited18 April 2007 Level 1 62 Colin St West Perth 6005ALBIDON LTD Western Australia ARBN 107 288 755 Tel:x+61x8x9211 4600 Fax:x +61x8x9211 4699 Email: [email protected] ASX Code: ALB AIM Code: ALD Market release via electronic lodgement BOARD CHANGES The Company is pleased to announce the appointment of Mr Valentine Chitalu (nonexecutive director) and Mr Paul Chapman (executive director) to the board ofAlbidon Limited. These appointments will substantially strengthen the Company's commercial teamas development of the Munali Nickel Project is accelerated. Mike Brook has announced his decision to retire at the time of the forthcomingAnnual General Meeting. Mike has been a director of the Company since 2003 as arepresentative of Albidon's largest shareholder African Lion Limited ("AFL"). MrBrook's retirement is in line with Lion Managers policy of stepping down fromboard positions once investee companies have achieved key development milestonessuch as commencement of construction. Mr Brook has assisted greatly in Albidon's growth and development over the past5 years, and the board wishes to express its appreciation of his significantcontribution to the Company. Brief resumes for the new directors are as follows: Valentine Chitalu (42 yrs old) MPhil, BAcc, FACCA Mr Chitalu is a Zambian with a 17-year career in the fields of private equity,privatisation, merchant banking, corporate finance, accounting, auditing,development economics, capital markets and business development in transitionaleconomies. He has previously held positions with CDC Capital Partners, ZambiaPrivatisation Agency and KPMG Peat Marwick. Mr Chitalu has a significant interest in private sector development in Zambiaand is extensively networked in the region. He has been Chairman of Albidon'swholly owned subsidiary Albidon Zambia Limited since 2005. Mr Chitalu takes onthe position of non-executive director. Mr Chitalu currently holds the following options in the Company: Exercise price Expiry Date $AUD150,000 Options $0.60 30 June 2006100,000 Options $1.05 30 June 2009 Paul Chapman (48 yrs old) BCom, CA Mr Chapman is a chartered accountant and has over twenty years resource industryexperience gained in Australia and the US. He has worked in a number ofcommodity businesses including gold, nickel, manganese, bauxite/alumina and oil/gas. Mr Chapman has held senior management roles in public companies of various sizesand is Chairman of ASX listed uranium explorer Encounter Resources Ltd. Hismain focus will be on commercial management and business development. Messrs Chitalu and Chapman have not been involved with any unspent convictionsin relation to indictable offences, bankruptcy, voluntary arrangements withcreditors, receiverships, compulsory liquidations, creditors voluntaryliquidations, administrations or other matters which require disclosure pursuantto paragraph (g) of Schedule 2 of the AIM rules. There are no other matters in relation to Messrs Chitalu and Chapman thatrequire disclosure under the AIM rules other than as disclosed in Appendix Abelow. If you have any queries please contact the Chief Financial Officer, Nicholas Dayor Managing Director, Dale Rogers on +61 8 9211 4600 or email [email protected]. Albidon's nominated adviser is RFC Corporate Finance Ltd, contact Stephen Allen+61 8 94802500. Additional information may also be viewed on Albidon's website atwww.albidon.com Appendix A Name Current directorships/ partnerships Past directorships/ partnershipsValentine Chitalu Kabwe Industrial Fabrics/KIFCO/ Commonwealth Africa Investments (COMAFIN) GEVANO Investments Lusaka Stock Exchange Afgri/OTK Zambia Ltd* Zambia Consolidated Copper Mines (ZCCM) Empowerment Group Investments Ltd* Zambia Telecommunications Company (ZAMTEL) Cropmasters* Board & Audit Committee of Konkola Copper Mines PG Bisonite Zambia Ltd* Mpongwe Development Company Greenbelt Fertilizers* Celtel Zambia Limited Koppa Chemicals* Zambia Capital Partners Pyramid Plaza Ltd* Securities Exchange Commission Kwacha Milling Company Ltd* Sunbird Hotels, Malawi Jack View Towers Ltd* Indebank, Malawi Menel* PG Bisonite Platinum Gold Equity* Kwacha Milling Platmin Congo* Oval Biofuels Ltd Marasa Holdings Gemfields Resources plc Tourism Investments Zambia* Africa Life * African Energy Limited* InfraCo (UK) Limited Imara Africa Opporuntities Fund (RSA) African Life Financial Services* Paul Chapman Encounter Resources Ltd* Reliance Minerals Ltd* Lakeshore Developments Ltd * Reliance Mining Ltd* Silver Lake Resources Limited* OM Manganese Ltd* Stone Poneys Nominees Pty Ltd* Total Resources Management Pty Ltd* CSF Nominess Pty Ltd* Mullet Mining Pty Ltd* Endevour Resources Ltd* This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
ALD.L