POL.L Regulatory News (POL)

14 May 2008 14:32



Polo Resources Limited 

("Polo Resources" or "the Company")

Neil Herbert appointed Deputy Chairman of Polo Resources

Polo Resources (AIM: PRL), the AIM listed natural resources investment company, is pleased to announce the following Board appointment which is effective immediately.

Neil Herbert, Deputy Chairman, aged 42

Neil Herbert was Finance Director of UraMin Inc from July 2005 until its sale to Areva in 2007 for US$2.5 billion. He was previously Finance Director of Galahad Gold plc, International Molybdenum plc, Kalahari Diamond Resources plc and HPD Exploration plc. He was also Chief Financial Officer of Argentinian gold explorer Brancote Holdings plc until its acquisition by Meridian Gold Inc and was Group Financial Controller of Antofagasta plc when the Los Pelambres and El Tesoro copper mines were brought to production. Before joining the mining sector he worked for PricewaterhouseCoopers and he is a fellow of the Association of Chartered Certified Accountants. 

Neil Herbert is currently interested in 5 million ordinary shares of Polo Resources, 2.5 million of which were granted as per the terms and conditions of his service agreement. This represents 0.4% of the total issued share capital of the Company. 

Stephen Dattels, Chairman of Polo Resources, said: 

"Polo's strategy is to build a significant coal business strategically located to serve the rapidly growing demand for coal in the Asian market. We will pursue this aim via both organic growth and through acquisitions. I'm delighted to welcome someone with Neil's wealth of experience in the sector and proven track record of creating shareholder value to the Board."

Save as set out below, there are no further details in relation to the above appointment which require disclosure under paragraph (g) of Schedule 2 to the AIM Rules.

Directorships in the past five years:

Current Directorships:

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