GCM Resources Regulatory News (GCM)

19 Jan 2006 14:37

Asia Energy PLC19 January 2006 Asia Energy Plc ("Asia Energy" or the "Company") Appointment of Steve Bywater as New Chief Executive Asia Energy is pleased to announce the appointment of Mr Steve Bywater as theCompany's new director and Chief Executive with effect from today. Mr Bywater, aged 54, joins the Company following a distinguished career in theresources industry where he was most recently the Chief Operating Officer forRio Tinto Coal Australia. In this position Mr Bywater covered 7 miningoperations, producing sixty (60) million tonnes of saleable coal a year. Prior positions held by Mr Bywater include General Manager Operations for RobeRiver Mining, a subsidiary of North which subsequently became a subsidiary ofRio Tinto in 2000. He also held the position of General Manager - MineOperations for Hamersley Iron Limited and General Manager at Mount Isa Mines inboth Mining and Metallurgical Operations. The position at Robe River Miningincluded management of both the port and rail facilities. Mr Chris Eager, Asia Energy's Chairman said, "I am pleased to have a person withSteve Bywater's outstanding credentials joining the team to lead the projectinto production. Steve has a proven track record in developing and operatinglarge scale mining operations like Phulbari". As a result of the appointment of Mr Bywater to the senior management role ofthe Company, Mr David Lenigas and Mr Michael Frayne have stepped down as JointManaging Directors with immediate effect. Mr Lenigas will assist with thehandover and remain a non-executive director of the Company. Mr Frayne will beresigning from the board by the end of January 2006. Mr Bywater will be granted one million options in the Company at an exerciseprice of £3.70 (which was the closing mid market price on 18 January 2006) witha term of 5 years from the date of this announcement. For further information please contact: Asia Energy Plc:Michael Frayne or David Lenigas.Tel: +44 (0) 20 7079 1798, Fax: +44 (0) 20 7491 2758 Gary Lye, Chief Executive (Bangladesh): +88 0173016704Website: www.asia-energy.com Parkgreen Communications:Justine Howarth, Cathy MalinsTel: +44 (0) 20 7493 3713 Additional information as required by Rule 17 and Schedule Two of the AIM Rulesis as follows: Mr Bywater was a director of Blair Athol Coal Pty Ltd, Warkworth Coal Sales Ltd,Warkworth Mining Ltd, Warkworth Pastoral Co Pty Ltd, Warkworth Tailings,Treatment Pty Ltd and Mount Thorley Operations Pty Limited and resigned from theboards of all these companies with effect from today. He was also an alternate director on the boards of Bengalla Agricultural CompanyPty Ltd, Bengalla Coal Sales Company Pty Ltd and Bengalla Mining Company Pty Ltdand also resigned from the boards with effect from today. This information is provided by RNS The company news service from the London Stock Exchange