| Thu 6 Oct 2011, 8:18 | | FSE - Firestone Energy Limited - Firestone Appoints of Directors |
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FSE
FSE
FSE - Firestone Energy Limited - Firestone Appoints of Directors
FIRESTONE ENERGY LIMITED
(Incorporated in Australia)
(Registration number ABN 058 436 794)
Share code on the JSE Limited: FSE
Share code on the ASX: FSE
ISIN: AU000000FSE6
(SA company registration number 2008/023973/10)
("FSE" or "the Company")
Firestone Appoints of Directors
Firestone Energy Limited (ASX / JSE : FSE) ("Firestone" or the "Company") is
pleased to announce the following changes to its Board. Morore Benjamin (Ben)
Mphahlele and Kobus Terblanche have been appointed Non Executive Directors. Mr
Sizwe Nkosi has terminated his executive role with the joint venture and
Firestone to take up another senior executive role. Mr Nkosi has agreed to
continue as a Non Executive Director for immediate future.
The appointments considerably strengthen the Board`s knowledge in the areas of
public administration and the development of coal resources in South Africa.
Mr Mphahlele CAIB (SA), PMD (Harvard University School of Business
Administration), PIAM (Harvard University), MBA - Finance (Regent Business
School).
Mr Mphahlele is a strategy and project management consultant as well as director
of various companies. He has had a long career in banking, and public sector
administration in South Africa. His roles have included senior positions with
standard Bank of South Africa Limited and African Bank Limited. He has held a
number of positions on behalf of the provincial Limpopo Government as well as
the government of South Africa. Notably his roles with the Limpopo government
included chairmanship of the provincial technical committee on economic
development and he has, in that capacity, been involved in leading the economic
development agenda of the region and particularly the development of mining
sector in the Limpopo region which hosts the joint venture`s Waterberg project.
His current memberships/directorships include: Regotje Investments (Chairman of
the Investment Committee), South African Statistics Council (Chairperson of the
Strategy Committee) and director, and Hlabirwa School of Commerce. Mr Mphahlele
has also co-authored a number of articles published in the South African Journal
of Economics.
Mr Kobus Terblanche is currently President - Linc Energy Operations Australia &
Africa
Mr Terblanche commenced his career in research and development with the major
South African company, Sasol Limited. He then participated in the establishment
of Mossgas, the commercial GTL facility in South Africa, in senior management
roles in the project, production, technical and business development areas. He
was involved in the formation of PetroSA as General Manager of Corporate
Strategy and New Ventures. Prior to joining Linc Energy, Kobus managed a
refining, storage and logistics business for Glencore in the Democratic Republic
of Congo (DRC), as Vice-President and Executive Director.
Mr Terblanche has a Masters degree in Chemical Engineering from the University
of Pretoria (South Africa), specialising in Fischer-Tropsch slurry technology
and has completed studies at Stanford University (Executive Management - Sloane
School) and University of London (Masters Degree in Financial Economics).
Mr Sizwe Nkosi has accepted a position as Chief Financial Officer of the JSE
listed company Metmar Limited. The board wishes Mr Nkosi well in his new role
and is appreciative of Mr Nkosi continuing to serve Firestone Energy as a Non-
Executive Director.
Firestone Energy Limited
David Perkins
Chairman
www.firestoneenergy.com.au
About Sekoko Resources
Sekoko Resources (Pty) Ltd is a South African-based black-owned energy and
minerals company developing the coal, magnetite iron ore and PGMs Projects in
the Limpopo Province of South Africa. This includes a significant exploration
program and development of the Waterberg Coal Joint Venture Project based on
significant Coal Zone Resources. Sekoko is targeting to commence operations in
2012, thus forming the basis for developing a global coal business.
About Firestone Energy
Firestone Energy Limited is an independent, Australian exploration and
development company listed on the Australian Stock Exchange Ltd (ASX) and the
Johannesburg Stock Exchange (JSE). Firestone Energy has entered into a Joint
Venture with Sekoko Resources (Pty) Ltd through which Firestone Energy has
acquired the right to 60% participation interests in the Waterberg Coal Project
located in Lephalale area, Limpopo Province, South Africa.
The first stage of the project is to develop the Smitspan mine which has a
substantial measured thermal coal resource and to develop the Vetleegte mine
which is a substantial metallurgical coal deposit.
Firestone Energy is committed to becoming a profitable independent coal and
energy producer at its projects in South Africa, thereby making a substantial
contribution to the social and economic development of the Lephalale area and
South Africa.
Corporate Details
ASX: FSE
JSE: FSE
Issued Capital:
2,808 million ordinary shares
Major Shareholders:
Sekoko Resources (Pty) Ltd
Linc Energy Ltd
BBY Nominees Pty Ltd
Bell Potter Nominees Ltd
Directors and Officers
Non Executive Directors:
David Perkins (Chairman)
Dr Pius Kasolo
Colin McIntyre
Executive Directors:
Sizwe Nkosi
Company Secretary:
Jerry Monzu
Contact:
Suite B9, 431 Roberts Road
Subiaco, Western Australia 6008
Tel: +61 (0)8 9287 4600
Date: 06/10/2011 08:18:02 Produced by the JSE SENS Department.
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