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Alecto Minerals Names Ex-Investec Director As Non-Executive Chairman

Fri, 03rd Oct 2014 07:02

LONDON (Alliance News) - Alecto Minerals PLC Friday said it has appointed Mark Wellesley-Wood as non-executive chairman with immediate effect.

Wellesley-Wood is replacing Michael Johnson, who is stepping down to pursue other business interests, said Alecto in a statement.

Wellesley-Wood was a director in corporate finance at Investec Investment Banking and Securities in London. Previously, he has held the chief executive position at DRDGold Ltd and Metallon Corp, and also as the non-executive chairman of Mwana Africa PLC.

"I am delighted to welcome Mark to the Alecto board and look forward to benefiting from his wealth of experience in the mining and investment arenas...His expertise and network will be particularly useful as we pursue our strategy of building value across our gold and base metal portfolio in Africa," said Chief Executive Mark Jones.

Alecto shares fell 7.9% on Thursday to close at 0.760 pence per share. They are untraded at the open Friday.

By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance