Anglo Asian Regulatory News (AAZ)

14 Mar 2006 07:03

Anglo Asian Mining PLC14 March 2006 14th March 2006 ANGLO ASIAN MINING PLC ('Anglo Asian' or 'the Company') APPOINTMENT OF CHAIRMAN Anglo Asian Mining PLC (AIM:AAZ) the gold and copper development company withprojects in Azerbaijan, announces that Mr Reza Vaziri the Executive Chairman hastaken up the position of President of the Company and that Mr Graham Mascallhas been appointed to the Board of Directors as Non-Executive Chairman. Over the course of his career, Mr Mascall has worked as an executive for anumber of the world's largest mining and mining finance companies. The list ofcompanies includes Billiton and BHP Billiton, Deutsche Morgan Grenfell,Outokumpu Metals & Resources, and Barclays Bank. He has a degree in MiningEngineering from the Camborne School of Mines, as well as a Master ofEngineering degree in Mineral Economics from McGill University in Canada. The Board believes that the combination of Mr Mascall's experience and contactswithin the industry will be a major asset to the Company and will help toachieve its strategic goals. His appointment is a continuation of the Company'sstrategy following the IPO in July 2005 of recruiting to the Board individualswith experience in the mining sector and follows the appointments of Mr RichardRound as Finance Director in September 2005 and Dr Ross Bhappu as anon-executive director in November 2005. The Company continues to search for aChief Executive with resource sector experience. Mr Vaziri, who remains a Director of the Company, commented 'I am delighted thatGraham has agreed to join and to strengthen the Board further. He has had adistinguished career in mining and mining finance and I believe that hisexperience will add significant value to Anglo Asian at what is an importantstage of this young company's development'. In addition to the increased mining experience being added at Board level, SRKConsulting has been retained by the Company to assist with the implementation ofAnglo Asian's exploration programme and to provide technical, audit and advisoryservices for the projects. Anglo Asian intends to utilise SRK's considerableexpertise and resources where relevant to assist the Company to progress itsprojects towards the feasibility study stage. Save as disclosed below, there is nothing further to disclose in relation to theappointment of Mr Graham Edward Mascall, aged 59, under schedule two, paragraph(g) of the AIM Rules: Current directorships:Caledon Resources plcEurozinc Mining CorporationGemfields Resources plcUramin IncInternational Molybdenum plc Previous directorships held in the last five years:Berkeley Mining plcLesotho Diamond CorporationBilliton International Development Limited As part Mr Mascall's employment arrangements with Anglo Asian, he has beenawarded options over 1,487,577 Ordinary Shares of 1p each at an option price of39.5 pence per share and 495,858 Ordinary Shares of 1p each at an option priceof 55 pence per share. Both options vest in three equal instalments on 12, 24and 36 months respectively after the date of grant, being 13th March 2006. -Ends- Enquiries: Anglo Asian Mining PLC Charles Hancock, Chief Executive +44 20 7409 3232 Richard Round, Finance Director +44 20 7409 3232 Numis Securities Limited John Harrison +44 20 7776 1590 Parkgreen Communications Justine Howarth/Victoria Thomas +44 20 7493 3713 This information is provided by RNS The company news service from the London Stock Exchange