AVM.L Regulatory News (AVM)

26 Sep 2006 15:36

Avocet Mining PLC26 September 2006 Avocet Mining PLC Change to Board of Directors Avocet Mining PLC ("Avocet" or "the Company"), the Central and South East Asiangold production and exploration company, today announces the following: Jonas Rydell who represents Elliott Associates L.P. and Elliott InternationalL.P. ("Elliott") has requested not to be put up for re-election to the Company'sboard of directors ("the Board") at the Company's AGM today, and thereforeceased to be a director of the Company at the close of the AGM. Elliott has been represented on the Board for the last eight years. Followingthe Company raising £30.5m, combined with the placement of 10 million Elliottshares in the Company in May 2006, Elliott's interest was reduced and dilutedfrom approximately 27.5% to just above 15%. Following this, Elliott now believesthat it is not necessary for it to be represented on the Board. The Board would like to thank Jonas for his dedication and support during thelast year.________________________________________________________________________________ For further information please contact:Avocet Mining PLC Buchanan CommunicationsJonathan Henry (Chief Executive) Bobby Morse, Director020 7907 9000 Ben Willey, Associate Directorwww.avocet.co.uk Tel: 020 7466 5000 www.buchanan.uk.com Grant Thornton (UK) LLPPhilip Secrett - 0870 991 2578 Notes to Editors Avocet is a mining company listed on the AIM market of the London StockExchange. The Company's principal activities are gold mining and exploration inMalaysia (as 100% owner of the Penjom mine, the country's largest goldproducer), Tajikistan (as 75% owner and operator of ZGC, Tajikistan's principalgold mine), and Indonesia (as 80% owner of the North Lanut gold mine in NorthSulawesi). The Company has a number of advanced mining and exploration projectsin Asia and owns 26% of Dynasty Gold Corporation, a Canadian listed explorationcompany active in Western China. This information is provided by RNS The company news service from the London Stock Exchange