TIDMVGM
RNS Number : 3947V
Vatukoula Gold Mines PLC
09 July 2009
? 9 July 2009
AIM: VGM
VATAKOULA GOLD MINES PLC
("VGM" or the "Company")
Appointment of New Directors
Vatukoula Gold Mines is pleased to announce the appointment of John F. Kearney
and John A. MacPherson to the Board as Non-Executive Directors with immediate
effect. Their appointment to the board was part of the subscription agreement
with Canadian Zinc Corporation ("CZN") which was approved by shareholders on the
10th June 2009. CZN is a 20.01% shareholder in VGM.
John F. Kearney is the Chairman and President of Canadian Zinc Corporation with
over thirty years experience in the mining industry worldwide. With degrees in
law, economics and business administration, he has a strong background in
corporate development, finance and managing public companies, primarily in the
mining field. He is currently Chairman of Anglesey Mining plc (LSE), Labrador
Iron Mines Holdings Limited (TSX), Minco plc (AIM), Xtierra Inc. (TSX-V) and
Conquest Resources Limited (TSX-V) and, a Director of Avnel Gold Mining Ltd.
(TSX), and Sulliden Exploration Inc. (TSX). He was previously President and
Chief Executive of Northgate Exploration Limited,. and more recently Chairman of
Scandinavian Minerals Limited. He is also a director of the Mining Association
of Canada, and of the NWT and Nunavut Chamber of Mines. In addition to his
appointment as a Non-Executive Director of VGM, Mr Kearney has been appointed as
a member of the Audit Committee.
John A. MacPherson is a Director of and founding chairman of Canadian Zinc
Corporation. He has been active in public markets, corporate finance and
corporate development for over 30 years. During this time he has led the
strategic development of several successful ventures, primarily in the fields of
mining and oil and gas. Throughout his career he has served as director of many
private and public corporations listed on the Toronto, AMEX and London Stock
Exchanges. In addition to his appointment as a Non-Executive Director of VGM, Mr
MacPherson has been appointed as a member of the Remuneration Committee.
In addition to the appointment of the two new directors VGM also announces the
resignation of Neil Lindsey Herbert as Non-Executive Director, Mr Herbert
resignation was effective as of the 8 July 2009.
David Karl Paxton, CEO of Vatukoula Gold Mines, said:
'I am very pleased to welcome onto the board, our new directors from Canadian
Zinc Corporation, both of whom have extensive experience in the mining
industry. We look forward to our strategic relationship with Canadian Zinc
Corporation. We believe that their knowledge in the North American Capital
Markets will provide VGM with invaluable advice in connection with its proposed
secondary listing on a North American Market."
"I would like to thank Neil Herbert for his contribution as a Non-Executive
Director. We wish him all the very best in his future endeavours."
Enquiries:
+----------------------+---------------------+-------------------------------------+---------------------+
| Vatukoula Gold Mines plc | Religare Hichens, Harrison & Co plc | |
+--------------------------------------------+-------------------------------------+---------------------+
| David Paxton | + 44 20 7016 7861 | Daniel Briggs | + 44 20 7382 7776 |
+----------------------+---------------------+-------------------------------------+---------------------+
| Kiran Morzaria | | Colin Rowbury | + 44 20 7382 7771 |
+----------------------+---------------------+-------------------------------------+---------------------+
| W.H. Ireland Limited | | Bishopsgate Communications | |
+----------------------+---------------------+-------------------------------------+---------------------+
| David Porter | + 44 20 7220 1666 | Nick Rome | +44 20 7562 3350 |
+----------------------+---------------------+-------------------------------------+---------------------+
| Sarang Shah | | | |
+----------------------+---------------------+-------------------------------------+---------------------+
John Francis Kearney - Age 58
Current Directorships - Public Companies
Anglesey Mining plc
Avnel Gold Mining Limited
+--------------------------------------------------------------------------------+
| Blackwater Capital Corp. |
| Canadian Zinc Corporation |
| Conquest Resources Limited |
| Labrador Iron Mines Holdings Limited |
| Minco plc |
| Sulliden Exploration Inc. |
| Xtierra Inc. |
| Current Directorships - Subsidiary and Private Companies: |
+--------------------------------------------------------------------------------+
| African Gold B.V. |
+--------------------------------------------------------------------------------+
| Airborne Clean Energy Limited |
+--------------------------------------------------------------------------------+
| Airborne Energy Resources Inc. |
+--------------------------------------------------------------------------------+
| Airborne Gas Corporation |
+--------------------------------------------------------------------------------+
| Airborne Industrial Minerals Inc. |
+--------------------------------------------------------------------------------+
| Airborne Technologies Inc. |
+--------------------------------------------------------------------------------+
| Anglo Canadian Exploration (ACE) Limited |
+--------------------------------------------------------------------------------+
| Aristos Energy Inc. |
+--------------------------------------------------------------------------------+
| Avnel Gold, Ltd. |
+--------------------------------------------------------------------------------+
| Baobab Minerals Inc. |
+--------------------------------------------------------------------------------+
| Cabre Tunisie S.A. |
+--------------------------------------------------------------------------------+
| Canland Holdings Limited |
+--------------------------------------------------------------------------------+
| Energold Minerals Inc. |
+--------------------------------------------------------------------------------+
| G.S. Limited |
+--------------------------------------------------------------------------------+
| Getty Resources Inc. |
+--------------------------------------------------------------------------------+
| Karbonate Minerals Corp. |
+--------------------------------------------------------------------------------+
| Labrador Iron Mines Limited |
+--------------------------------------------------------------------------------+
| Labrador Iron plc |
+--------------------------------------------------------------------------------+
| Labrail Inc. |
+--------------------------------------------------------------------------------+
| Minco Ireland Limited |
+--------------------------------------------------------------------------------+
| Mining Association of Canada |
+--------------------------------------------------------------------------------+
| Norwest Minerals Limited |
+--------------------------------------------------------------------------------+
| NWT & Nunavut Chamber of Mines |
+--------------------------------------------------------------------------------+
| Orca Minerals Limited |
+--------------------------------------------------------------------------------+
| Parys Mountain Heritage Limited |
+--------------------------------------------------------------------------------+
| Parys Mountain Land Limited |
+--------------------------------------------------------------------------------+
| Parys Mountain Mines Limited |
+--------------------------------------------------------------------------------+
| Pelly River Mines Limited |
+--------------------------------------------------------------------------------+
| Priority Minerals Limited |
+--------------------------------------------------------------------------------+
| Rose Creek Vangorda Mines Ltd. |
+--------------------------------------------------------------------------------+
| Stranton Limited |
+--------------------------------------------------------------------------------+
| Westland Exploration Limited |
+--------------------------------------------------------------------------------+
| |
+--------------------------------------------------------------------------------+
Past Directorships held within last five years
+--------------------------------------------------------------------------------+
| 1735081 Ontario Limited |
+--------------------------------------------------------------------------------+
| Airborne Midstream Technologies Inc. |
+--------------------------------------------------------------------------------+
| Scandinavian (Gold) Minerals Limited |
+--------------------------------------------------------------------------------+
| The Ireland Fund of Canada |
+--------------------------------------------------------------------------------+
Company Bankruptcy
John Kearney served as a Non-Executive Director of Q-Entertainment Inc. (Q-ZaR
Inc.) from October, 1996 to October 31, 1997. Q-Entertainment was a New
Brunswick company, then listed on the Toronto Stock Exchange, and a
subsidiary/associate of McCarthy Corporation plc.
On November 6, 1997, Q-Entertainment and its US subsidiaries filed for Chapter
11 protection in the United States. In January 1998 Q-Entertainment and its US
subsidiaries filed for Chapter 7 Bankruptcy in the United States Bankruptcy
Court in Texas and a trustee in Bankruptcy was appointed. John Kearney was never
a Director of these US subsidiaries and was not a Director of Q-Entertainment at
the time of such filings.
Company Voluntary Agreement
John Kearney served as a Non-Executive Director of McCarthy Corp. plc from July
2000 to March 2003. McCarthy Corp. plc was a public company incorporated in the
United Kingdom whose shares were listed on the TSX Venture Exchange.
On June 19, 2003 McCarthy Corp. plc proposed a Company Voluntary Arrangement
with its creditors pursuant to UK legislation. John Kearney was not a Director
of McCarthy Corp. at the time of such Company Voluntary Arrangement.
John Arthur MacPherson - Age 65
Current Directorships
+--------------------------------------------------------------------------------+
| Canadian Zinc Corp |
+--------------------------------------------------------------------------------+
| Nugent Ventures Corp |
+--------------------------------------------------------------------------------+
Past Directorships held within last five years
+--------------------------------------------------------------------------------+
| Tower Energy Corporation |
+--------------------------------------------------------------------------------+
No further information is required to be disclosed in accordance with Schedule
2(g) of the AIM Rules for Companies.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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