20th Dec 2006 11:33
Sierra Leone Diamond Company Ld20 December 2006 For immediate release 20 December 2006 Sierra Leone Diamond Company Limited ("SLDC" or the "Company") Changes to SLDC Board Sierra Leone Diamond Company Limited (AIM: SLD), the diamond company with licence interests wholly focused in the country of Sierra Leone, announces changes to its Board of Directors over the next month. On 9th October 2006, SLDC announced the appointment of Mr Jamie Alpen as ChiefFinancial Officer and director, effective 1st January 2007. Mr Alpen, aged 40and currently Finance Director at Cluff Gold plc, the AIM listed company focusedon the exploration and development of gold deposits in West Africa, will nowcommence his appointment on 8th January 2007. SLDC also announced on 18th October 2006 the appointment of Gordon Bowman Steinas Interim Finance Director until Jamie Alpen joins SLDC as Chief FinancialOfficer. SLDC now announces that Mr Stein, aged 47, a fellow of the CharteredInstitute of Public Finance & Accountancy (CPFA) and member of the UK Instituteof Directors, will continue at SLDC as a Non-Executive Director with effect from8th January 2007. Gordon was previously Head of Finance & Company Secretary withFairfield Energy Limited, an upstream oil company focused on the North Sea,where he was one of the founders. Before Fairfield, Gordon was a founder andFinance Director of Acorn Oil & Gas Ltd from June 2001 to November 2005 and hasalso held senior financial and operational management positions for BG plc,Centrica plc, Monument Oil & Gas plc and LASMO plc. The Board of SLDC has also appointed Vasile (Frank) Timis as Executive Chairman with effect from 19th December 2006 for a period of up to one year. Mr Timis iscurrently Non-Executive Chairman and director of SLDC. In taking up thisenhanced role, Mr Timis intends to devote more time to creating value for theshareholders in the year ahead as the Company seeks to fast-track its alluvialmining capacity and cashflow from these operations, advance the hard rockKimberlite exploration programme, and accelerate the development of the ironore project. SLDC will continue to look to strengthen its Board in the coming year. Commenting on the Board changes, David Gadd-Claxton, Chief Executive Officer,said: "We are delighted with the changes that are being made to strengthen the SLDCBoard. As previously mentioned, Jamie will bring a wealth of experience whichincludes knowledge of operating in Africa, in addition to City exposure as afinancial executive. Gordon will also add value to the Board as a Non-Executive director through his in-depth understanding of the resources sector,recent experience as Interim CFO of SLDC and as a finance director with projectdevelopment, associated financing and corporate governance experience. Agreater hands-on role by Frank Timis as Executive Chairman is very welcome asthe Company enters a new year which will involve activities on a number offronts to optimize shareholder value, notably our alluvial mining, hard rockexploration and iron ore projects". Under the AIM rules, Mr Stein's Directorship disclosures for the past five years are as follows: • Fairfield Acer Ltd• Fairfield Betula Ltd• Fairfield Cedrus Ltd• Fairfield Fagus Ltd• Acorn Oil & Gas Ltd• Acorn North Sea Ltd• Acorn Davidia Ltd• Acorn Ginko Ltd. Save as disclosed in this announcement, Mr Stein has confirmed that there are nofurther disclosures required pursuant to Schedule Two paragraph (g) of the AIMRules. Enquiries: Sierra Leone Diamond Company Tel: 01442 257246David Gadd-Claxton - Chief Executive OfficerGordon Stein - Interim Chief Financial Officer Canaccord Adams Limited Tel: 020 7050 6500Mark Ashurst Buchanan Communications Tel: 020 7466 5000Bobby MorseBen WilleyNick Melson This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
AMI.L