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Directorate Change

Wed, 25th May 2016 07:07

International Ferro Metals Limited - Directorate Change

PR Newswire

London, May 25

25 May 2016

International Ferro Metals Limited

(“IFL” or the “Company”)

Directorate Change

IFL announces that Chris Jordaan, Chief Executive Officer, will step down and become a Non-Executive Director of the Company, with effect from 31 May 2016. The business rescue practitioner of the Company’s South African subsidiary, International Ferro Metals (SA) (Pty) Ltd (“IFMSA”), requires Mr Jordaan to oversee the operations of IFMSA and to assist with the implementation of the business rescue plan and the transaction documents contemplated therein, in order to ensure the successful business rescue of IFMSA. As a result, from the 1st June, Mr Jordaan will be employed solely by IFMSA on a limited duration contract, in order to fulfil the requirements of the business rescue plan. Mr Jordaan’s notice period and any rights to termination payments have been waived and his participation in the Company’s long-term incentive scheme will lapse with immediate effect. The Company’s day-to-day activities are limited, and as such, the Board does not intend to appoint a new Chief Executive Officer in the short-term.

- ENDS-

For further information please visit www.ifml.com or contact:

International Ferro Metals Limited

Jannie Muller, Finance Director +27 82 785 1364
Wayne Kernaghan, Company Secretary +61 407 233 153

About International Ferro Metals:

International Ferro Metals produces ferrochrome, the essential ingredient in stainless steel, from its integrated chromite mine and ferrochrome processing operations in South Africa. International Ferro Metals is listed on the London Stock Exchange under the symbol IFL.

Forward Looking Statements

This announcement contains certain forward looking statements which by nature, contain risk and uncertainty because they relate to future events and depend on circumstances that occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward looking statements.

Date   Source Headline
31st Jul 201812:41 pmPRNInternational Ferro Metals Limited - Appointment of Voluntary Administrators
26th Feb 20187:00 amRNSDirectorate Change
13th Sep 201612:14 pmRNSDirectorate Change
23rd Aug 201610:01 amRNSSale of Business
25th May 20167:07 amRNSDirectorate Change

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