Trans-Siberian Gold PLC - producer from Asacha gold mine in Far East Russia - Names Lou Naumovski as interim chair to replace Charles Ryan and adds Vladislav Sviblov and Anton Glazunov as new non-executive directors. Ryan, together with Florian Fenner and Robert Sasson, resigned from the board at the end of May, following the acquisition of a controlling stake in Trans-Siberian Gold by Horvik Ltd. Horvik had agreed to buy a 51.2% stake in Trans-Siberian, though this was reduced to 48.6% after share grants under long-term incentive plans that vested under change-of-control provisions in the plans. Sviblov is the ultimate beneficial owner of Horvik. His other companies include former AIM listing Highland Gold Mining Ltd. Glazunov is deputy chief executive officer for Strategy & Development at Highland Gold.
Current stock price: 115.10 pence
Year-to-date change: down 10%
By Tom Waite; thomaslwaite@alliancenews.com
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