GCM Resources Regulatory News (GCM)

9 Mar 2006 12:15

Asia Energy PLC09 March 2006 ASIA ENERGY PLC APPOINTS GRAHAM TAGGART AS NEW FINANCE DIRECTOR Asia Energy PLC ('the Company') announced today that Mr Graham Taggart will bejoining as the Company's new Finance Director with effect from the end of March2006. Mr Taggart, a qualified Chartered Accountant aged 48, joins the Companyfollowing a 24 year career with Rio Tinto in the resources industry, principallyin Australian coal and Indonesian coal and gold businesses. His most recent position was Chief Financial Officer and Company Secretary forRio Tinto Coal Australia. In this position Mr Taggart was responsible for agroup of Rio Tinto entities producing some 60 million tonnes per annum ofthermal coal and coking coal. Mr Taggart was previously General Manager - Commercial and Chief FinancialOfficer for PT Kaltim Prima Coal (producing some 20 million tonnes of thermalcoal per annum), and before that he was Director Finance for PT KelianEquatorial Mining (producing some 500,000 oz of gold per annum), both Indonesianbased. Mr Chris Eager, Asia Energy's Chairman said, "I am pleased to have a person withGraham Taggart's credentials joining the Phulbari Coal Project. Graham hasworked alongside the Company's new Chief Executive Mr Steve Bywater at RioTinto, and together they have a proven track record in developing and operatinglarge scale mining operations like Phulbari". Mr Taggart will be granted 400,000 options in the Company at an exercise priceof £4.60 with a term of 5 years from the date of this announcement. In recognition of his contribution towards the development of the Company'sPhulbari Coal Project, Mr Gary Lye, an Executive Director and Chief OperatingOfficer of the Company, has had his employment contract extended by a further 2years and will be issued 120,000 options on the same terms as Mr Taggart's. Additional information The information detailed below is disclosed in accordance with Rule 17 andSchedule Two of the AIM Rules. Except for the information disclosed below, thereis no other information which falls to be disclosed under these rules. Mr Taggart is a director and alternate director of the companies listed belowand will resign from these boards on completion of his current duties with RioTinto. Listing of Directorships and Alternate Directorships below: Company Director Alternate Blair Athol Pty Ltd xLeichhardt Coal Pty Limited xNewco Finance Pty Limited xHail Creek Coal Pty Ltd xHC Developments Pty Ltd xHail Creek Marketing Pty Ltd xHC Expansion Pty Ltd xDalrymple Bay Coal Terminal Pty Ltd xHalf Tide Marine Pty Ltd xDalrymple Marine Services Pty Ltd xKestrel Coal Pty Limited xKestrel Coal Sales Pty Limited xClermont Coal Mines Limited xWinchester South Development Company Proprietary Limited xRio Tinto Coal Australia Pty Limited xQueensland Coal Pty Limited xCoal Marketing Services Pty Ltd xBengalla Agricultural Company Pty Limited xBengalla Coal Sales Co. Pty Limited xBengalla Mining Co. Pty Limited xWarkworth Coal Sales Limited xWarkworth Mining Limited xWarkworth Pastoral Co Pty Limited xWarkworth Tailings Treatment Pty Ltd xMount Thorley Operations Pty Limited xMount Thorley Coal Loading Ltd xMoura Coal Investments Pty Limited xRavensworth Pastoral Company Pty Limited xThe Energy Group Australia Pty Limited xNewcastle Coal Shippers Pty Ltd xPort Waratah Coal Services Ltd xCoal & Allied Finance Limited xCNA Bengalla Investments Pty Limited xCNA Bengalla Pty Limited xCNA Investments (UK) Pty Limited xCNA Resources Holdings Pty Limited xCNA Resources Limited xCNA Staff Retirement Fund Pty Ltd xCNA Sub Holdings Pty Limited xCNA Warkworth Australasia Pty Limited xDolphin Properties Pty Ltd xAustralian Coal Resources Limited xCoal & Allied Mining Services Pty Limited xCoal & Allied Operations Pty Ltd xCoal & Allied Sales Pty Limited xCoal & Allied Superannuation Pty Ltd xHexham Engineering Pty Limited xHowick Coal Sales Pty Limited xHunter Valley Coal Pty Limited xKalamah Pty Ltd xKembla Coal & Coke Pty Limited xLemington Coal Mines Pty Ltd xMillfield Coal Mining Co Pty Ltd xMiller Pohang Coal Co Pty Ltd xNamoi Valley Coal Pty Limited xNorthern (Rhondda) Collieries Pty Limited xNovacoal Australia Nominees Pty Limited xNovacoal Australia Pensions Pty Limited xNovacoal Australia Pty Limited xOaklands Coal Pty Limited xPort Hunter Coal Management Pty Limited xR W Miller (Holdings) Limited xRio Tinto Coal (NSW) Pty Limited xRio Tinto Energy Marketing Services Pty Limited xVale Engineering Pty Limited xWestern Main Collieries Pty Ltd x For further informationSteve Bywater, Chief Executive (London) Justine Howarth, Cathy MalinsTel: +44 (0) 20 7079 1798 Parkgreen CommunicationsFax: +44 (0) 20 7491 2758 Tel: +44 (0) 207 493 3713 cathy.malins@parkgreenmedia.comGary Lye, Chief Operating Officer:(Bangladesh) justine.howarth@parkgreenmedia.comTel:+88 0173016704info@asia-energy.com This information is provided by RNS The company news service from the London Stock Exchange