| Thu 2 Oct 2008, 8:19 | | BRE - Braemore Resources Plc - DR Mathews Phosa appointed as non-executive |
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BRE
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BRE - Braemore Resources Plc - DR Mathews Phosa appointed as non-executive
chairman
BRAEMORE RESOURCES PLC
(A company incorporated in England and Wales
with Registration Number 5350550)
(South African registration number: 2008/013973/10)
Share code on the JSE Limited: BRE
Share code on AIM: BRR ISIN: GB00B06GJQ01
("Braemore" or "the Company")
DR MATHEWS PHOSA APPOINTED AS NON-EXECUTIVE CHAIRMAN
Braemore Resources plc is pleased to announce the appointment to the Board of
Directors ("the Board") of Dr Mathews Phosa as Non-executive Chairman, with
effect from the 2nd of October 2008. The outgoing Chairman, David Humann, will
remain on the Board as a non-executive director.
The appointment comes as Braemore reaches a key milestone in establishing its
`mine-to-metals` strategy with the commissioning of its new 3.2 MW demonstration
smelting facility. The commissioning of the new facility proves the scalability
of the technology, as well as its ease of operation, while maintaining the
exceptional efficiencies achieved to date. Braemore is now poised to accelerate
the establishment of a fully- commercialised, independent smelting facility for
the PGM industry and Dr Phosa`s appointment is an important step towards
realising the company`s intention to establish independent, black-owned PGM
processing facilities in South Africa..
Dr Phosa will bring a wealth of boardroom experience and will play a leading
role in facilitating the black economic empowerment (BEE) partnership which
Braemore is currently negotiating in terms of its South African PGM footprint.
Braemore`s association with Mintek, a leading South African government-funded
research and development institution, and its exclusive access to the ConRoast
process in part arise from the effects of the Minerals and Petroleum Resources
Development Act (MPRDA) which has created access for junior companies to an
industry previously dominated by a select few major mining houses.
"The transformation of the South African mining sector and the business
development opportunities created by legislative changes have led to exciting
prospects for established players and previously disadvantaged South Africans. I
am delighted to be joining Braemore; in addition to the challenges of developing
the nickel project in Australia, the chance to create a platinum operation in
South Africa to benefit a broad base of stakeholders is an inspiring vision,"
said Dr Phosa. "This vehicle will allow us to create access for multiple junior
companies to a process that benefits all South Africans and which commercialises
South-African developed technology. Braemore`s business strategy will support
transformation through skills development in a sector currently experiencing
skills shortages and will assist with job creation; this is true economic
empowerment."
An attorney by profession, Dr Phosa was one of the first four members of the
African National Congress (ANC) to enter South Africa in 1990 from exile to
start the process of negotiations with the then National Party Government. He
subsequently served as Premier of Mpumalanga from 1994 to 1999 where he
pioneered planning interaction between the private sector and government. He
serves on the National Executive Committee of the ANC, is Treasurer General of
the ANC and currently holds chairman, vice-chairman and board member duties for
over 10 prominent companies, including Vuka Forrest Holdings Pty Ltd. University
of South Africa, Value Logistics and Command Holdings. Dr Phosa plays a vital
role in realising these companies` business strategies, particularly with regard
to integrating previously-disadvantaged persons into the economic framework of
South African businesses.
Leon Coetzer, Chief Executive Officer of Braemore, commented: "Dr Phosa brings
substantial knowledge and experience at a time when finding the right partner to
take the Company forward is key. We believe his contribution to Braemore will be
considerable."
"On behalf of the Board, I should like to take this opportunity to thank David
Humann for his considerable efforts in the past and his ongoing commitment to
Braemore`s success."
In accordance with Schedule 2 (g) of the AIM Rules, the Company provides the
following information in respect of the appointment of Dr Nakedi Mathews Phosa,
aged 56, to the Board of the Company as Non-Executive Chairman.
Nakedi Matthews Phosa
Current directorships
Enterprise Outsourcing Holdings Limited
Alliance Data Mining Corporation Limited
Value Logistics Limited
du Toit Smuts & Mathews Phosa Attorneys
Previous directorships in last five years.
African Legal Networks
Asambeni Holdings (Proprietary) Limited
Comati Logging (Proprietary) Limited
Earthwize Group
Echo Structured Investments (Proprietary) Limited
Empowergro Investments (Proprietary) Limited
Enercorp Africa (Proprietary) Limited
Eveni Investments (Proprietary) Limited
Forge Marketing (Cedar Point Trading 5 (Proprietary) Limited)
Forum Trust
Hans Merensky Holdings (Proprietary) Limited
HWJ Timbers (Proprietary) Limited
Indiza Terra Housing Projects (Proprietary) Limited
Karimu 2005 Investments (Proprietary) Limited
Kgato Investments (Proprietary) Limited
Mafika Group
Mathews Phosa & Associates (Proprietary) Limited
Mbombela Group
Multisource Telecoms (Proprietary) Limited
Ndarama Mineral Resources (Proprietary) Limited
Nelspruit Project Management & Development Service
Ndonsa Investments (Proprietary) Limited
Power Matla (Proprietary) Limited
SJW Motors (Proprietary) Limited
Time Business Innovations Consultancy (Proprietary) Limited
Tornado Transport (Proprietary) Limited
Tsb Sugar Holdings (Proprietary) Limited
VelaVKE Consulting Engineers (Proprietary) Limited
Vuka Alliance (Proprietary) Limited
Vuka Forestry Holding Group of Companies
Zero Pollution Motors South Africa (Proprietary) Limited
No other information is required to be disclosed pursuant to Rule 17 and
Schedule 2g of the AIM Rules.
For further information please visit our website at www.braemoreresources.com or
contact:
Braemore Resources plc
Leon Coetzer
Chief Executive Officer
Tel: +27 11 875 6540
Qinisele Resources (Pty) Ltd
Advisor - SA
Dennis Tucker
Tel: +27 82 492 4957
Investec Bank (UK) Limited
Nomad and Joint broker - UK
Gerard Kisbey-Green
Tel: +44 20 7597 5167
Mirabaud Securities
Joint Broker - UK
Rory Scott
Tel: +44 207 878 3360
Parkgreen Communications
Investor Relations - UK
Sue Scott
Tel: +44 20 7933 8780
Russell and Associates
Investor Relations - SA
Charmane Russell
Tel: +27 11 880 3924
Johannesburg
2 October 2008
Sponsor
Sasfin Capital (A division of Sasfin Bank)
Date: 02/10/2008 08:19:00 Produced by the JSE SENS Department.
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