| Tue 22 Jun 2010, 13:33 | | VIL - Village - Changes to the board of directors |
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VIL
VIL
VIL - Village - Changes to the board of directors
Village Main Reef Gold Mining Company (1934) Limited
("Village")
(Incorporated in the Republic of South Africa)
(Registration Number: 1934/005703/06)
JSE Code: VIL ISIN: ZAE000007720
CHANGES TO THE BOARD OF DIRECTORS
Following the general meeting of shareholders held on 15 June 2010 and the
approval of the proposed transactions which resulted in a reverse take-over of
Village by Umbono Capital Partners (Pty) Limited, the board of directors of
Village ("the board") hereby announces the following changes to the composition
of the board as required in terms of the JSE Listings Requirements:
RESIGNATIONS
Mr Michael Pleming and Mr George Rawstorne have resigned as directors from the
board with effect from 21 June 2010. The board wishes to express its sincere
appreciation for the valuable contribution and input made by both these
gentlemen during their tenure as directors and wish them well in their future
endeavours.
NEW APPOINTMENTS
The following new directors have been appointed to the board with effect from 21
June 2010:
- Independent non-executive directors
Roy Pitchford (FCCA, CA(Z)) has over 20 years` senior management and
executive experience in Southern Africa, 14 years of which have been in the
mining industry. He is a former president of the Chamber of Mines of
Zimbabwe and currently the CEO of AIM listed African Minerals Limited.
Khethiwe McClain (BA (Fine Arts)) is currently the CEO and executive
chairman of Alexkor Limited, a state-owned diamond mine in Alexander Bay.
She is also an executive director of Khusela Women Investments (Pty)
Limited of which she is a founding shareholder.
David Noko (Higher Diploma in Engineering, MBA) has both local and
international experience working for blue chip companies at management and
executive levels. He is currently the CEO of De Beers South Africa.
- Non-executive directors
Phiway Mbuyazi (BSc (Electrical Engineering), BA (PPE)) was until recently
the managing director of Umbono Capital Partners` M&A advisory business
with special emphasis on Umbono`s advisory services related to developing
mining partnerships with broad-based empowerment groups. His current focus
has been on advancing the Phosiri Project.
Keith Scott (BSc (Hons) Geology) serves as the managing director of the MSA
Group. He is an exploration and evaluation specialist with over 14 years`
experience in planning, initiating, executing and reporting on multi-
disciplinary exploration and evaluation projects on a wide range of
commodities throughout Africa.
- Executive directors
Dorian Wrigley (BSc (Eng) MSc (Eng)) currently serves as the managing
director of Umbono Capital. He has over 12 years experience in the mining
industry where his focus has been on improving efficiencies (cost and
revenues), turnaround strategies with the majors and on investment banking
activities such as capital raising, corporate restructuring, mergers and
acquisitions and disposals for both the major and junior sector of the
market.
CURRENT DIRECTORS
The following directors will remain on the board going forward:
- Independent non-executive director
Ferdi Dippenaar (B Proc, BCom, MBA) has been the president and CEO of Great
Basin Gold Limited since December 2005 and has been employed in various
capacities in the mining industry since 1982.
- Executive directors
Bernard Swanepoel (BSc (Min Eng), BCom (Hons)) has been appointed as the
chief executive officer of Village.
Clinton Halsey (BCom, BAcc, CA(SA), H Dip International Law) will be
appointed as chief financial officer of the company.
Dalu Ncube (BSc. Eng (Mining), CPLD, ASAIMM, AAMMSA) will remain as
executive director on the board.
In view of the above, the board of directors of Village with effect from 21 June
2010 is composed of:
Independent non-executive directors
Roy Pitchford
Khethiwe McClain
David Noko
Ferdi Dippenaar
Non-executive directors
Phiway Mbuyazi
Keith Scott
Executive directors
Bernard Swanepoel - Chief executive officer
Clinton Halsey - Chief financial officer
Dorian Wrigley
Dalu Ncube
Johannesburg
22 June 2010
Sponsor
Investec Bank Limited
Date: 22/06/2010 13:33:01 Produced by the JSE SENS Department.
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