19 May 2009 07:00
China Goldmines plc ('the Company')
Directorate Change
China Goldmines today announces the resignations of Lance Browne, Chairman, and Alex Worrall, Non Executive Director and Company Secretary, with immediate effect.
Mr Clive Donner, Non Executive Director and former Chairman of the Company will act as Chairman on an interim basis. The Company will endeavour to appoint a further Non Executive Director to the Board.
The resignations have implications as to the application of the City Code on Takeovers and Mergers (the "Code"). The Company is no longer considered by the Panel on Takeovers and Mergers to have its place of central management and control in the UK, Channel Islands or Isle of Man. The City Code has ceased to apply to the Company and shareholders cease to be protected by the Code.
The Executive Directors intend to meet with shareholders over the course of the next two weeks to update them on developments.
For further information, call:
| China Goldmines plc | |
| Frank Vanspeybroeck (CEO) | +86 731 518 8200 |
| Marinko Vidovich (CFO) | +61 8 6216 5200 |
| Guanzhuang Site Office | +86 745 463 9900 |
| Brewin Dolphin Ltd (Nomad) | |
| Alex Dewar (Nominated Adviser) | +44 131 529 0276 |
| Threadneedle Communications Laurence Read/Beth Harris | +44 (0)20 7653 9855 |