Minco PLC Regulatory News (MIO)

4 Jan 2006 07:00

Minco PLC04 January 2006 Minco plc ("Minco" or "the Company") MINCO STREAMLINES BOARD 4 January 2006 Minco (AIM:MIO) today announces that John Teeling and Jim Finn have resigned asNon-Executive Directors of the Company, reducing the total number of Directorsto five, with two Non-Executives. John Teeling was the founder of Minco and its predecessor company, Irish MarineOil plc, serving as Chairman until 2004 and, together with Jim Finn who waspreviously Finance Director and Secretary, played a key part in building theCompany. John had previously retired as Chairman of Minco, because of hisnumerous other directorships and interests in other resource companies,including other Irish mineral exploration ventures, and had previously indicatedhis intention to retire from the Board at an appropriate time. Both John Teelingand Jim Finn continue to hold significant shareholdings in the Company. Minco's Irish mineral exploration interests, primarily a joint venture withFalconbridge, are managed by Terence McKillen from Toronto where he is alsoresponsible for the Company's Exploration and Business Development activities inMexico. Minco is a mineral exploration and development company with projects in Mexicoand Ireland and is also evaluating other acquisitions and opportunities. Roger Turner, CEO, stated "John and Jim indicated that they wanted toconcentrate their efforts on their other natural resource interests for somemonths and it was agreed at a Board Meeting on 29 December that this would be anappropriate time for them to step down. They remain supportive and I would liketo express, on behalf of the Board, our thanks for the many years service andwish them both best wishes for 2006." Contacts: Roger Turner +44 (0)7739 092813Terence McKillen + (001) 416 362 8243Danesh Varma +44 (0) 7397 8150Martin Eales, Collins Stewart Limited +44 (0)20 7523 8320 This information is provided by RNS The company news service from the London Stock Exchange