TIDMNAD
RNS Number : 8138X
Namakwa Diamonds Limited
21 August 2009
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August 21, 2009
LSE: NAD
Namakwa Announces Management Changes
Namakwa Diamonds Limited ("Namakwa" or the "Company") today announces the
resignation of Jean Nel, Director of Strategy & Business Development, from the
Company with immediate effect. Jean's resignation is in line with his own
personal timeframe for assisting with the development of the Company, from a
private to a London Stock Exchange listed company and he leaves the Company with
a solid platform for future growth. Jean's position on the Board will not be
replaced. The Board would like to thank Jean for his contribution in the role of
first, Chief Financial Officer and later, as Director of Strategy & Business
Development. The Company will remain compliant with the Combined Code on
Corporate Governance insofar as Board composition is concerned, with three
executive directors and seven non-executive directors.
The Company also announces, with great pleasure, the appointment of Ryan Barrow
to its Executive Management Team, as Senior Executive Manager (Strategy &
Legal), to provide an added dimension to the Company's strategic growth and
development. Ryan joins Namakwa from global law firm Allen & Overy LLP, where he
was a Senior Associate in the Equity Capital Markets team. A Cambridge graduate,
Ryan was on secondment at Goldman Sachs International, before returning to Allen
& Overy to lead Namakwa through its IPO process in London. As internal counsel,
Ryan will take responsibility for the Company's legal function. In addition, he
will also provide strategic and transactional advice as the Company moves to its
next level.
Nico Kruger, Chief Executive Office of Namakwa, commented:
"Firstly I would like to thank Jean for his commitment to the Namakwa team over
the last few years and wish him well in his future career. Secondly, I would
like to welcome Ryan, finally, to the Namakwa team. Ryan provides an added
dynamic to the Executive Management Team and we look forward to working together
to take Namakwa to the next stage in its growth and development."
For further information please contact:
Namakwa Diamonds - Nico Kruger
Tel: +27 11 334 8886
Taylor Rafferty - Rob Newman
Tel: +44 207 614 2900
About Namakwa:
Namakwa Diamonds is a unique diamond resource group. Its strategy of backward
integration from its 30 years of beneficiation experience into mining has
created a unique public investment proposition. Namakwa Diamonds has a
diversified portfolio of diamond projects, which include five distinct diamond
resource target areas. These are located in four African countries, namely;
South Africa, the Democratic Republic of Congo, Namibia and Angola. Namakwa's
projects are located within historically prospective geological environments.
Alluvial diamond deposits, including marine, constitute the primary focus of the
company, whilst kimberlite opportunities will be considered if they represent an
advanced stage of development, consistent with Namakwa's philosophy of a short
resource delivery time as provided by its alluvial diamond mines.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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