African Gem Resources Limited - AFGEM appoints Non Executive Chairman
African Gem Resources Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/007292/06)
Share code: AFG
ISIN: ZAE000025540
CUSIP code (Level 1 ADR programme): 008283103
("AFGEM" or "the company")
AFGEM appoints Non Executive Chairman
In accordance with the JSE Listings Requirements and in adherence to the
principles of good corporate governance, AFGEM is pleased to announce the
appointment of Keith Rayner as interim Non Executive Chairman. To date, Keith
has been AFGEM"S Non Executive Deputy Chairman. In line with AFGEM"s stated
intention of developing its diamond exploration and mining business, should the
current transaction relating to the sale of its tanzanite assets be concluded
(see SENS, 5 December 2003 and 23 January 2004), AFGEM expects to appoint a Non
Executive Chairman in accordance with its Black Economic Empowerment strategy.
Keith is a South African chartered accountant who, having begun his career in
corporate finance in 1987, has a wealth of experience in corporate finance in
general and mining corporate finance in particular. Keith"s past clients have
included major listed and unlisted companies and entities, and his advisory work
has covered most types of corporate finance transactions. Keith is a member of
the JSE Listings Advisory Committee and has been actively involved in assisting
the JSE Listings Division since 1995, including rewrites of the JSE Listings
Requirements in 2000 and 2003. Keith is Chairman of AFGEM"s audit committee and
a member of its risk and remuneration committees.
Johannesburg
16th February 2004
Sponsor
Java Capital
Date: 16/02/2004 08:53:02 AM Supplied by www.sharenet.co.za
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