Palabora Mining Company Limited - Change To Directorate
Release Date: 25/02/2004 08:00:01 Code(s): PAM
Palabora Mining Company Limited - Change To Directorate
Palabora Mining Company Limited
(Incorporated in the Republic of South Africa)
Registration number :1956/002134/06
Share code: PAM; ARC ISIN: ZAE000005245
("Palabora" or "the Company")
CHANGE TO DIRECTORATE
The Board of Palabora regrets to announce that Mike Humphries, General Manager
Commercial Services, has decided to leave Palabora at the end of April 2004 to
set up his own venture. Mike will also resign from the Board of Directors with
effect from 22 April 2004.
During the nearly four years that Mike has been with Palabora, he has been
responsible for four major re-financing initiatives, the development of the
Company"s HIV/AIDS policy; the sale of non-core assets such as the Hans Merensky
Country Club, the restructuring of the pension funds, implementing a new
corporate governance regime as well as a number of cost saving initiatives.
Mike"s portfolio as General Manager Commercial Services has covered Finance,
Personnel, Internal Audit and various administration services, in addition to
his activities as a trustee of the Palabora Foundation and the various pension
funds.
An announcement regarding Mike"s successor will be made shortly.
Phalaborwa
25 February 2004
Sponsor:
Barnard Jacobs Mellet Corporate Finance
(Pty) Limited
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