Last checked at 19 Sep 2013 07:30
19 September 2013
Rare Earth Minerals plc
(the "Company" or "REM")
Board Changes and Appointment of CEO
Rare Earth Minerals plc (AIM: REM), the rare earth minerals and metals investment company, is pleased to announce that it has appointed Kiran Mozaria as Chief Executive Officer ('CEO') and Donald Strang as Finance Director of the Company. Mr Richard Griffiths has also stepped down as a non-executive director of the Company.
David Lenigas, the Company's Executive Chairman, commented:
"The past few months have been a very exciting and positive time for the Company with the exploration success in the Fleur-El Sauz Lithium Project in northern Mexico. With the pace at which we are moving the project forward the board concluded that it is timely to appoint two key executives to manage our development. We are fortunate to have been able to recruit Kiran and Donald, who have a wealth of experience in their respective fields."
"I would also like to thank Richard Griffiths for his very important contribution to the early stage growth of the Company. I have greatly valued his advice."
Kiran Morzaria (aged 39) holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance) from CASS Business School. He has fourteen years of experience in the mineral resource industry. Mr Morzaria spent his first four years in exploration, mining and civil engineering. Mr. Morzaria has been active in IPOs, corporate acquisitions, joint ventures, qualified persons reports, due diligence and debt/equity raisings. He has served as a director of a number of public companies, including Lonrho plc and Vatukoula Gold Mines plc.
Donald Ian George Layman Strang (aged 45) is a member of the Australian Institute of Chartered Accountants and has been in business over 20 years, holding senior financial and management positions in both publicly listed and private enterprises in Australia, Europe and Africa. Mr Strang has considerable corporate and international expertise and over the past decade has focussed on mining and exploration activities. He is currently the Finance Director of Polemos plc, Stellar Resources plc and AfriAg plc and is the Non-Executive chairman of Doriemus plc.
NOTES
Details of Mr. Strang's current directorships and former directorships within the last 5 years are set out below:
Current:
Polemos plc
Stellar Resources plc
AfriAg plc (formerly knowns as 3D Resources plc)
Doriemus plc
Jubilee Gold Limited
Central African Investments plc
Former:
Leni Gas and Oil plc
Vatukoula Gold Mines plc
Lonrho plc
Brinkley Mining plc
CSS Stellar plc
Green Park Finance Ltd.
Compania de Sedano Ltd.
Leni Trinidad Ltd.
Vatukoula Gold Pty. Ltd.
Vatukoula Finance Pty. Ltd.
Vatukoula Australia Pty. Ltd.
Western Uranium Pty. Ltd.
Brinkley Mining Project 1 Pty. Ltd.
Brinkley Mining South Africa Pty. Ltd.
Brinkley Africa Ltd.
There are no other matters which are required to be announced pursuant to paragraph (g) of Schedule 2 to the AIM Rules. For the avoidance of doubt, Mr. Mozaria has been appointed CEO without also being appointed a Director of the Company.
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For further information please contact:
Rare Earth Minerals plc +44 (0) 207 440 0647
David Lenigas
WH Ireland Limited (NOMAD & Joint Broker) +44 (0) 20 7220 1666
James Joyce
Nick Field
XCAP Securities plc (Joint Broker) +44 (0) 207 101 7070
Guy Peters
Jon Belliss
Square1 Consulting
David Bick +44 (0) 207 929 5599
Mark Longson