3rd Feb 2009 15:46
Oxus Gold PLC
('Oxus' or the 'Company')
Board Changes
Oxus Gold plc ("Oxus" or the "Company") (OXS.L) is pleased to announce the appointment of James Ronald Gordon McBurney as non-executive director of the Company with effect from 1 February 2009.
Mr McBurney, aged 49, has twenty years' experience in the banking sector and has held senior positions in Bank of America, Merrill Lynch, Goldman Sachs and JNR (UK) Limited. Further information relating to Mr McBurney is set out below.
Jonathan Kipps resigned from the Board with effect from 31 January 2009. Mr Kipps has been serving as Financial Director since November 2002 and as Company Secretary since January 2008.
The role of the Company's Finance Director will be split between Richard Thornton and Jyoti Chandhok, who will report directly to the Board. Richard Thornton is a chartered accountant with more than 20 years' experience in senior level financial and commercial positions in companies, including those in the FT100 Index, in a range of industries, and in the last 5 years in mining companies. He has previously served as Finance Director and Company Secretary of AIM quoted and other companies.
Jyoti Chandhok has a Bachelor of Arts in Economics and an MBA from Lucknow University in India and is a Chartered Management Accountant. She has worked for the last eight years in the mining sector, primarily with junior mining companies, reporting and assisting with compliance with the AIM Rules.
Jyoti Chandhok is appointed as the Company Secretary with effect from 1 February 2009.
Richard Shead, Non-Executive Chairman since 5 December 2008, assumed the role of Executive Chairman from 1 February 2009.
Richard Wilkins, CEO, commented "I would like to thank Johnny Kipps for his services to the Company over the last six years and I wish him well in his retirement. I am confident that the new financial team is more than capable of managing the Company's accounting and financial requirements to the highest standards. I would also like to welcome Jim McBurney to the Board and I know that his considerable experience within the banking and financial sector will be of great benefit to the Company. Finally I welcome Richard Shead's decision to assume executive responsibilities as Chairman. I believe the restructured Board and finance department has the appropriate skills to manage the Company effectively and efficiently as we now look to expand our existing operations to the next level of production".
For further information, please contact:
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Oxus Gold PLC Richard Wilkins (CEO) |
Tel: +44 (0) 207 907 2000 |
|
Fairfax I.S. PLC Ewan Leggat |
Tel: +44 (0) 207 598 5368 |
|
Conduit PR Ltd Fiona Hyland/ Ed Portman |
Tel: +44 (0) 207 429 6614 |
Mob: +44 777 600 5847
Appendix:
AIM Rules Schedule 2 Disclosure
For the purposes of paragraph (g) of schedule 2 of the AIM rules James Ronald Gordon McBurney, aged 49, holds or has held the following directorships:
|
COMPANY |
APPOINTED |
RESIGNED |
|
CURRENT DIRECTORSHIPS |
||
|
Caspet Holdings |
Oct 2008 |
N/A |
|
DIRECTORSHIPS IN PAST FIVE YEARS |
||
|
JNR (UK) Limited |
Feb 2005 |
Dec 2008 |
|
Soyuz Metallresours |
Nov 2005 |
Dec 2007 |
There is no other information regarding Mr McBurney to be disclosed pursuant to Schedule 2 paragraph (g) of the AIM Rules for Companies.
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Oxus Gold Plc