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SUB NIGEL GOLD MINING COMPANY LIMITED - APPOINTMENT OF CHIEF EXECUTIVE OFFICER
SUB NIGEL GOLD MINING COMPANY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1984/006179/06)
Share code: SBN ISIN: ZAE000006391
("Sub Nigel" or "the company")
Appointment of Chief Executive Officer
The Board is pleased to announce that Mr Stephen Thomas Ward has been appointed
as the new Chief Executive of Sub Nigel Gold Mining Company Limited with effect
from 15 March 2004 and welcomes him to the team.
Mr Ward, 33, joins the Board after having served on the Board of a junior black
economic empowerment company. Stephen has both a mining and a merchant banking
background. He graduated from the University of the Witwatersrand with a BSc in
mining engineering in 1992 and then joined BHP Billiton plc. He read for an MBA
at the University of Cape Town in 1998 after which he joined Absa Corporate and
Merchant Bank in 1999.
"Stephen was approached earlier this year because of his proven track record in
developing and negotiating complex financing structures. We are fortunate to
have a person of his calibre to take Sub Nigel forward" said Sub Nigel Chairman
Les Holmes. "His experience and track record in project finance and mergers and
acquisitions will assist in the development of Sub Nigel"s two projects as well
as positioning Sub Nigel for sustainable future growth".
"I am thrilled with the opportunity to work with a group of very experienced
individuals. My skills will complement those of the rest of the team" Ward said.
"Sub Nigel has two exceptional gold projects which will need to be financed and
developed. We are also looking to grow our asset base by acquiring other world-
class projects through which I can add value to the company and its
shareholders".
Ward formulated Absa"s metal hedging strategy in 1999 and was instrumental in
developing Absa"s strategy for funding small cap black economic empowerment
mining projects.
During his time at Absa, Ward advised Eyesizwe Coal (Pty) Ltd on the acquisition
of coal assets from Anglo Coal and Ingwe Coal and was instrumental in securing
the acquisition finance on there behalf. He also arranged the debt facility for
Harmony Gold"s hostile acquisition of Randfontein and structured, facilitated
and arranged the R2 billion acquisition by Harmony Gold of Elandsrand and
Deelkraal from Anglogold.
16 March 2004
Sandton
Sponsor
SASFIN CORPORATE FINANCE
A division of Sasfin Bank Limited
Date: 16/03/2004
Date: 16/03/2004 02:38:48 PM Produced by the JSE SENS Department
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