Kenmare Resources Board Update
March 17 2021 - 3:00AM
UK Regulatory
TIDMKMR
Kenmare Resources plc ("Kenmare" or "the Company")
17 March 2021
Board Update
Kenmare Resources plc (LSE:KMR, ISE:KMR), one of the leading global
producers of titanium minerals and zircon, which operates the Moma
Titanium Minerals Mine in northern Mozambique, announces the following
update regarding the Group's Board.
Gabriel Smith has decided not to stand for re-election as a
Non-Executive Director at this year's AGM, following eight years of
service on the Board. Gabriel joined the Board in March 2013 and has
served as Chairman of the Audit & Risk Committee and as a member of the
Remuneration and Nomination Committees.
Deirdre Somers will replace Gabriel Smith as the Chair of the Audit &
Risk Committee and become a member of the Remuneration Committee with
effect from the conclusion of the AGM. The other members of the Audit &
Risk Committee remain Peter Bacchus and Clever Fonseca. There are no
other changes to the Board's Committees.
Separately, Tim Keating, a Non-Executive Director of Kenmare Resources
plc, has informed the Company that he will step down from the Company's
Board of Directors effective immediately. Tim was appointed as a
Non-Executive Director of the Company on 14 October 2016, having been
nominated by African Acquisition Sarl, Kenmare's largest shareholder and
a company controlled by Oman Investment Authority (OIA). Tim has stepped
down from his role at the OIA and therefore is stepping down from the
Board.
Sameer Oundhakar has been nominated by African Acquisition Sarl and
joins the Board immediately as a Non-Executive Director. Mr. Oundhakar
joined OIA in 2018 and is a Senior Manager in the Diversified Private
Equity Investments department of OIA. He has extensive Private Equity
experience across industry sectors and geographies. Mr. Oundhakar has a
Bachelor's degree with distinction in Mechanical Engineering from VJTI
Mumbai, a Post Graduate Diploma in Management from the Indian Institute
of Management Lucknow and an MBA from INSEAD.
There are no other matters in respect of Mr. Oundhakar requiring
disclosure under UK Listing Rules 9.6.13(1) to 9.6.13(6) inclusive.
Statement from Steven McTiernan, Chairman of Kenmare:
"I would like to sincerely thank Tim and Gabriel for their invaluable
contributions to the Board during their respective tenures.
Gabriel's significant industrial and financial experience, and effective
stewardship as Chair of the Audit & Risk Committee, has been of huge
importance to the progress and success of the Company.
Tim has had a critical impact on the success of Kenmare over the last
four and a half years, beginning with his visionary support for the
Company following the investment by the OIA in 2016. Subsequently, as a
Non-Executive Director, Tim's mining and corporate finance wisdom has
been of immense importance in guiding the Company forward to its current
level of success.
We wish them both well in their future endeavours.
We are delighted to welcome Sameer Oundhakar to the Board and we look
forward to working with him and benefitting from his expertise and
diverse experience."
For further information, please contact:
Kenmare Resources plc
Jeremy Dibb
Investor Relations
https://www.globenewswire.com/Tracker?data=2pvM88CeLpV4oDU9gafDLWMO5I3NuiUkXtRBuC3Mu3KDffpypc0hLBLaNGG0EnJ_DhKDY7P_uXoAWM-vtJPoK9sqn7r_WqGaWAHclprfa5Q=
ir@kenmareresources.com
Tel: +353 1 671 0411
Mob: + 353 87 943 0367
Murray (PR advisor)
Joe Heron
Tel: +353 1 498 0300
Mob: +353 87 690 9735
About Kenmare Resources
Kenmare Resources plc is one of the world's largest producers of mineral
sands products. Listed on the London Stock Exchange and the Euronext
Dublin, Kenmare operates the Moma Titanium Minerals Mine in Mozambique.
Moma's production accounts for approximately 7% of global titanium
feedstocks and the Company supplies to customers operating in more than
15 countries. Kenmare produces raw materials that are ultimately
consumed in everyday "quality-of life" items such as paints, plastics
and ceramic tiles.
(END) Dow Jones Newswires
March 17, 2021 03:00 ET (07:00 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Kenmare Resources (LSE:KMR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Kenmare Resources (LSE:KMR)
Historical Stock Chart
From Apr 2023 to Apr 2024