4th Apr 2011 12:53
ECR MINERALS plc
("ECR Minerals", "ECR" or the "Company")
AIM: ECRUS OTC: MTGDY
BOARD CHANGES
London: 4 April 2011 - ECR Minerals plc is pleased to announce that Stephen Clayson has been appointed an Executive Director of the Company and that Luca Tenuta has been appointed a Non-Executive Director. ECR also announces that Michael Elias has resigned as a Non-Executive Director of the Company. These changes are effective 1 April 2011.
Stephen James Clayson (British, aged 25)Executive Director and Chief Financial Officer
Stephen Clayson has been Chief Financial Officer of ECR since September 2010, and was extensively involved in the Company's affairs for some two years prior to his appointment as Chief Financial Officer. He has acquired substantial experience in the mineral exploration and development sector and in the operations of listed companies since 2006.
Mr Clayson is beneficially interested in 2,246,059 ordinary shares of the Company; in 400,000 warrants issued pursuant to the Company's announcement of 12 May 2010, each of which is exercisable to acquire one ordinary share of the Company at a price of 1p per share; and in 3,900,000 options issued as announced on 6 January 2010 under ECR's unapproved share option plan, each of which is exercisable to acquire one ordinary share of the Company at a price of 2.5p per share.
Luca Tenuta (Italian, aged 34)Non-Executive Director
Luca Tenuta has over 10 years of experience in financial and corporate matters. He started his career as a credit and risk analyst for Banca Intesa London (today San Paolo IMI) and Credit Suisse First Boston. During his time in banking he was responsible for European aerospace and defence, engineering and energy companies and structured debt/equity transactions for non-investment grade counterparties. He subsequently gained experience in the natural resources sector as CEO of Uranio AG and of Worldwide Natural Resources plc. He is currently Chairman of Ecovista plc, a company listed on PLUS, and is active in the international property sector.
Luca holds an MA in Economics and Finance from Universita' La Sapienza in Rome. He is also an FSA approved person with the designation CF30.
Stephen Clayson - Current Directorships
Clayson Capital Partners LtdCordillera Tiger Gold Resources Inc.
Luca Tenuta - Current Directorships
White Star Energy plcTen Brothers LtdPurely Financial Group LtdEcovista plc39 Sutherland Avenue Management Company LtdAllura Ltd
Luca Tenuta - Other Directorships Held in Previous Five YearsWorldwide Natural Resources plcPayeasy Solutions UK LtdCoal Fines Resources SA LtdCoal Fines Technology LimitedVistula Communications Services Inc.Creative Entertainment Group plcWhite Star Energy (UK) LtdTempleco 649 LtdOriental City Development LtdAngelrealm LtdMetrolinx LtdEuro Capital Projects Ltd
Patrick Harford, Managing Director of ECR Minerals plc, comments:
"On behalf of everyone at ECR, I would like to thank Mick Elias for the highly professional service he has given to the Company since 2004, through some difficult times. He has our very best wishes for the future.
I am pleased to welcome Luca Tenuta as a Non-Executive Director of the Company and Stephen Clayson, who has been Chief Financial Officer of the Company since September 2010, as an Executive Director. I have no doubt that both will play an important role in the growth and development of ECR in the future."
About ECR Minerals
ECR is a mineral development company with interests in the USA, Argentina, Indonesia, Thailand and Australia.
For further information please contact:
| ECR Minerals plc | ||
| Michael Silver, Chairman | Tel: +44 (0)20 7929 1010 | |
| Patrick Harford, Managing Director | ||
| Stephen Clayson, Chief Financial Officer | ||
| Email: [email protected] | ||
| Website: www.ecrminerals.com | ||
| Daniel Stewart & Company plc | ||
| Oliver Rigby/Tessa Smith | Tel: +44 (0)20 7776 6550 | |
| Old Park Lane Capital plc | ||
| Forbes Cutler | Tel: +44 (0)20 7518 2603 | |
| Blythe Weigh Communications | ||
| Ana Ribeiro | Tel: +44 (0)20 7138 3204 | |
| Barry Kaplan Associates | ||
| Larry Kaplan | Tel: +1 732 747 0702 | |
Copyright Business Wire 2011
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