Ferrexpo Regulatory News (FXPO)

27 Mar 2009 17:30



27 March 2009

Board Appointments

Further to its announcement on 29 October 2008, Ferrexpo plc ("Ferrexpo" or "the Company") announces the appointment to the Board of the Company of Miklos Salamon and Marek Jelínek as Non-Independent Non-Executive Directors with immediate effect. 

Michael Abrahams, Chairman of Ferrexpo, said:

"I am very pleased to welcome Mike Salamon and Marek Jelínek to the Ferrexpo Board. Mike is Executive Chairman and Marek is Chief Financial Officer of New World Resources NV ("NWR"), a company that shares a substantial shareholder with Ferrexpo in RPG Industries SE. NWR is a key supplier to many of Ferrexpo's customers through its hard coal mining and coke production operations in the Czech Republic, with a complementary product offering to the steel industry in the region. Both of the new directors have experience directly relevant to Ferrexpo and we look forward to their valuable contribution to our Board."

Miklos Salamon (54) is Executive Chairman of New World Resources NV. Mr. Salamon also serves as a non-executive member of the Board of Directors of OKD, Co-President of AMCI Capital and Non-Executive Director of Central Rand Gold and Gem Diamonds. He has extensive knowledge of the international mining and extractive industries. His career spans more than 30 years, the latter part of which was spent with BHP Billiton, the world's largest diversified resources company. Between 2003 and 2006, Mr. Salamon served as an Executive Director of BHP Billiton with responsibilities for the aluminium, copper and nickel businesses. From 2001 to 2006, he also chaired BHP Billiton's Operating Committee, which was accountable for inter alia the BHP Billiton group's health, safety and environment, projects, purchasing and operating excellence. In 2001, Mr. Salamon oversaw the merger integration of Billiton plc and BHP Limited. He was a co-founding Director of Billiton plc in 1997, and oversaw the Company's listing on the London Stock Exchange in 1997. Between 1985 and 1997, Mr. Salamon worked for Gencor Ltd, initially as marketing manager for coal. In 1989, he was appointed Managing Director of Gencor Ltd's coal business, Trans-Natal Coal Corporation, and was then appointed Director of Gencor Ltd from 1993 to 1997. During this time, he was also Executive Chairman of Samancor Ltd and Chairman of Columbus Stainless Steel. Previously, Mr. Salamon was with the coal division of Shell Group in various capacities between 1981 and 1985. Prior to that, he worked for the Anglo-American group, both in the Gold Division and at De Beers in trainee and junior management capacities. He commenced working for De Beers directly after graduation. Mr. Salamon graduated in 1975 from The University of the Witwatersrand, Johannesburg with a degree in Mining Engineering (Cum Laude) and obtained an MBA from the London Business School, University of London in 1981. Mr. Salamon holds 5,000 ordinary shares in the share capital of Ferrexpo plc as at the date of this announcement.

Marek Jelinek (36) is Chief Financial Officer of New World Resources. He has also been a member of the Board of Directors of OKD since his appointment on 1 November 2007. In his capacity as Chief Financial Officer of NWR, he is responsible for the restructuring activities within the NWR Group and the buildup of NWR's headquarters team, including the Group-wide finance and treasury functions. In 2007 and 2008, Mr. Jelínek led the Group's bond issue and the successful Initial Public Offering in London, Prague and Warsaw. Mr. Jelínek was a Director of Bakala Crossroads Partners a.s. (formerly RPG Advisors) from 2005 to 2006. He joined the RPG Group in December 2004 as Financial Officer and was responsible for a variety of areas including group financing, restructuring and divestitures. Prior to that, Mr. Jelínek served as an Analyst and Associate of the Corporate Finance department at Patria Finance, a Prague based investment banking boutique, from 1995 to 2004, where he managed merger and acquisition transactions for domestic and international clients. Mr. Jelínek graduated from the Anglo American College in Prague in 1995 with a Bachelor of Science degree in Business Administration.

For further information, please contact:

Ferrexpo: +44 207 389 8304

Gavin Mackay

Finsbury: +44 207 251 3801

Robin Walker

Alex Simmons

Notes to Editors:

Ferrexpo is a Swiss headquartered resources company with assets in Ukraine, principally involved in the production and export of iron ore pellets, used in producing steel. Current output is over 9 million tonnes, most of which is exported to steelmakers around the world. The Group is listed on the main market of the London Stock Exchange under the ticker FXPO. For further information please visit www.ferrexpo.com.