MRF
MRF
MRF - Merafe Resources - Directorate change
MERAFE RESOURCES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/003452/06
Share Code: MRF
ISIN: ZAE000060000
(Merafe Resources or the Company)
Directorate change
Merafe Resources announces that at the Annual General Meeting of Xstrata plc
held in Zug, Switzerland on 5 May 2010 Dr Con Fauconnier was elected as a non-
executive director of that company and as a consequence he has elected to
resign from the Merafe Resources board of directors (the Board) in order to
avoid a potential conflict of interest, given the existing substantial Joint
Venture in ferrochrome between Xstrata and Merafe.
"Con`s two year tenure on the Board has proved invaluable to the company in
terms of his mining and business knowledge and the guidance he has given our
Board during this period. We shall miss Con and wish him every success in his
future endeavours." said Stuart Elliot, CEO of Merafe Resources.
"I appreciate my association with Merafe Resources very much and I wish the
company well for the future. The two years I served on the Board were richly
rewarding to me mainly because of the fantastic people I came in contact with
on the Board and in the Company and also of the professional and ethical way
the company is governed. I am also pleased that through Xstrata I will still
have an ongoing, albeit indirect, relationship with Merafe." said Dr
Fauconnier.
Further to the announcement released on SENS on 10 March 2010 wherein it was
advised that Merafe would be appointing a new CFO prior to 31 March 2010, the
Company`s Board wish to advise Merafe shareholders that they are still in
discussions with the CFO designate. An announcement will be released on SENS
once the appointment has been finalised.
7 May 2010
Johannesburg
Sponsor:
Deutsche Securities (Proprietary) Limited
Date: 07/05/2010 15:30:03 Produced by the JSE SENS Department.
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