TIDMRGM
RNS Number : 1028D
Regency Mines PLC
24 June 2019
Regency Mines PLC
("Regency" or the "Company")
Directorate Changes
24 June 2019
Regency Mines Plc (LON: RGM) the natural resource exploration
and development company with interests in energy storage, battery
metals, coal and natural gas announces the appointments of Nigel
Burton and Ewen Ainsworth as Non-Executive Chairman and independent
Non-Executive Director respectively, and the appointment of
Executive Director Scott Kaintz as Chief Executive Officer of the
Company.
Simultaneously, the Company announces the resignation of Edmund
Bugnosen as a Non-Executive Director of the Company. Mr. Bugnosen
was appointed to the Board of Regency in 2009 and has primarily
focused on assisting with the Company's nickel/cobalt project in
Papua New Guinea over this period. Mr. Bugnosen has further agreed
to be retained as a consultant in order to assist the Company
primarily with its ongoing affairs in Papua New Guinea.
Dr Nigel Burton has over 30 years' experience in operational and
financial management, debt and equity financing, acquisition and
integration of businesses, disposals, IPOs and trade sales.
Following over 14 years as an investment banker at leading City
institutions including UBS Warburg and Deutsche Bank, Nigel spent
15 years as Chief Financial Officer of a number of private and
public companies including Management Resource Solutions plc and
Nu-Oil and Gas plc. Nigel is currently Non-Executive Chairman of
Remote Monitored Systems plc and a Non-Executive Director of
Digitalbox plc and Tau Capital plc, all of which are listed on AIM.
Nigel is a Chartered Electrical Engineer and a Past President of
the IET. He has a B.Sc. (First Class Hons) in Electrical and
Electronic Engineering and a Ph.D in Acoustic Imaging from
University College London.
Mr Ainsworth is an experienced AIM company director, currently
the Non-Executive Chairman at Nostra Terra Oil and Gas Company plc
and until the end of this month, the Chief Financial Officer of San
Leon Energy plc. He is also currently CEO of Discovery Energy
Limited, an advisory, consultancy and Investment Company and has
worked in a variety of senior and board-level roles in the natural
resource sector for over 30 years, most recently as Finance
Director for Gulf Keystone Petroleum Limited. He qualified as a
chartered management accountant, before moving into leading
commercial roles. He holds a degree in Economics and Geography from
Middlesex University, and is a member of the Energy Institute.
Following these directorate changes the reconstituted Regency
Board of Directors will consist of CEO and Executive Director Scott
Kaintz, Non-Executive Chairman Nigel Burton, and Non-Executive
Directors Ewen Ainsworth and Andrew Bell. Mr. Ainsworth will become
chair of the Audit Committee and will assist in providing oversight
of the financial affairs of the Company. The Board anticipates that
additional expansion of the executive team will be under future
consideration.
The revised board intends to continue the ongoing strategic
review of business operations already in progress, and will make
further announcements on this process as appropriate.
Scott Kaintz, Executive Director and CEO, comments: "We would
like to welcome Ewen and Nigel to the Regency team as we continue
the process of reinvigorating and refocusing the business. Both
Ewen and Nigel bring a deep set of AIM experience and capabilities
to the organisation, and are already involved in our ongoing
strategy discussions.
We would further like to thank Edmund Bugnosen for his many
years of service to Regency, and in particular for his
contributions toward Regency declaring one of the largest lateritic
nickel resources in the world at our Mambare project, in Papua New
Guinea. We are pleased to be able to retain access to Edmund's
expertise as we continue to operate our nickel joint venture at
Mambare.
Some time in the making, these board changes constitute the next
of several steps placing Regency on a sustainable long-term
development pathway. We look forward to further announcements on
these developments in due course."
For further information, please contact:
Scott Kaintz 020 7747 9960 Director Regency Mines Plc
Roland Cornish/ Rosalind Hill Abrahams 020 7628 3396 NOMAD Beaumont Cornish Limited
Jason Robertson 020 7374 2212 Broker First Equity Limited
Schedule 2 Paragraph (g) of the AIM Rules for Companies:
Full name: Nigel John Burton
Age: 61 years old
Currently holds the following directorships/partnerships:
Remote Monitored Systems plc
Digitalbox plc
Tau Capital Plc
Wasdale Head Limited
Wasdale Head Inn Limited
Highbec Limited
SenseToys Limited
ASD Visual Aids Limited
Gyrometric Systems Limited
Strat Aero International Limited
Directorships and partnerships held within the last five
years:
Management Resource Solutions plc
Nu-Oil and Gas plc
Procurement Services (Delaware) Inc.
New Day Energy Indonesia Limited
Dr Burton was a director of Pease Limited within 12 months of
the company appointing a liquidator in June 1998. The company was
subsequently liquidated.
Full name: Kristian Ewen Ainsworth
Age: 57 years old
Currently holds the following directorships/partnerships:
San Leon Energy PLC
Nostra Terra Oil and Gas Company PLC
Nostra Terra Inc
Discovery Energy Limited
Independent Resources (Egypt) Limited
Directorships and partnerships held within the last five
years:
Gulf Keystone Petroleum Limited
Gulf Keystone Petroleum HBH Limited
Gulf Keystone Petroleum Numidia Limited
Adamant Ventures LLP
Adamant Advisors Limited
Shaikan Petroleum Limited
Citadel Energy Ltd
There is no further information to be disclosed under Schedule 2
Paragraph (g) of the AIM Rules for Companies
This announcement contains inside information under Article 7 of
Regulation (EU) 596/2014.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
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of this information may apply. For further information, please
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END
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