ASA Resource Group PLC Management changes (7693R)
December 14 2016 - 2:00AM
UK Regulatory
TIDMASA
RNS Number : 7693R
ASA Resource Group PLC
14 December 2016
14 December 2016
Asa Resource Group plc
("Asa Resource", "the Group" or "the Company")
Management changes
The Directors of ASA RESOURCE GROUP plc would like to update
shareholders on changes to its senior management team.
Group Management changes
Effective immediately, Mr Toi Muganyi, currently Managing
Director at Freda Rebecca, will become the Group's new Chief
Operating Officer and Batirai Manhando, currently Managing Director
at BNC, will become the Group's Chief Technical Officer.
Mr David Murangari, non-Executive Chairman of the Group comments
as follows:
"These appointments are significant in that they strengthen the
executive's mining and technical expertise at the Group level. They
will both work closely with Mr Ning, (CEO) and Mr Kwan, (Group
Finance Director) to ensure the success of our key operations in
Zimbabwe.
In addition to this management review and as part of the Group's
ongoing corporate consolidation, the functions that were being
carried out at our offices in Johannesburg and Harare will now be
combined into one integrated team at the newly formed Asa Complex
at Bindura. These developments underpin our commitment to the town
of Bindura and the important emphasis we place on the ongoing
success of our two key operating mines in Zimbabwe.
To complete our plans at the corporate level and to integrate
executive functions with key mine operations, I can confirm that
the board will hold at least two of its quarterly board meetings in
Bindura each year.
The rationale for many of these developments is to build on the
excellent progress we have made in reducing corporate overheads. By
bringing our teams closer together, communications become more
efficient and will further eliminate duplication between corporate
and operational functions."
Dr Alex Danso, Chairman of Freda Rebecca, said he "supports the
Company's reorganisation plans and it will make the Group's
operations and teams stronger."
The Honourable Kenneth Musanhi, constituency MP for Bindura,
also welcomed the Group's long-term commitment to the town of
Bindura. Between Freda Rebecca and BNC and noted they are the
largest employers in the town.
Mr Toi Muganyi said he was humbled by the appointment and
welcomed the challenge of being appointed Chief Operating Officer
of the Group. He described it as "an opportunity to bring our many
cultures, teams and operations together under a common
purpose".
Batirai Manhando, new Chief Technical Officer, said that "we
must embrace these changes to the benefit of our mines, employees
and stakeholders. Toi and I have complementary skill sets and I
have no doubt that we will make a very valuable contribution at the
executive group level and across Asa's impressive portfolio - many
of our asset are world class".
London
Asa Resource Group plc.
One Fleet Place, London EC4M 7W
Niall Henry, non-Executive Director (Investor Relations)
communications@asaukplc.com
www.asaukplc.com/
Hong Kong
Yim Kwan, Finance Director
Asa Resource Group plc.
Units 509-510, Level 5, Core E, Cyberport 3, 100 Cyberport Road,
Hong Kong
communications@asaukplc.com
Nominated Adviser and Joint Broker
SP Angel Corporate Finance LLP
Prince Frederick House, 35-39 Maddox Street, London W1S 2PP
John Mackay, Jeff Keating, Caroline Rowe
Tel: +44 (0) 20 3470 0470
This information is provided by RNS
The company news service from the London Stock Exchange
END
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