POL.L Regulatory News (POL)

31 Jan 2008 16:00

Polo Resources Limited31 January 2008 31 January 2008 Polo Resources Limited ('Polo Resources' or 'the Company') Changes to the Board Polo Resources (AIM: PRL) the AIM listed natural resources investment company ispleased to announce the following Board appointments which are effectiveimmediately. Stephen R. Dattels, Non-Executive Chairman, aged 60. Mr. Dattels has founded and/or financed a number of mining ventures with hismost recent being UraMin Inc. which was sold in July 2007 for $2.5bn to Areva,the French government-owned fully integrated uranium company. Mr. Dattels was an executive at Barrick Gold Corporation during its formativeyears when it grew from a capital base of $10 million to a market capitalisationof $2 billion when he left in early 1987. During his employment with Barrick, hewas a Director and Executive Vice President of Corporate Finance. In the past decade, he has completed several financings either directly orthrough his merchant bank, Regent Mercantile Bancorp Inc., in the naturalresources sector. This has included exploration, development or productionprojects in minerals, base metals and precious metals, with the main areas offocus being Africa and Asia. Mr. Dattels was the Chairman and founder of Caledon Resources PLC, anAIM-listed Australian coal producer and Chinese exploration company, and was theco-founder and Managing Director of AIM-listed Oriel Resources PLC, a developerof nickel and chrome assets in Kazakhstan. Most recently, Mr. Dattels founded a new venture called CCEC Ltd. which isacquiring thermal coal projects in China. CCEC Ltd. recently merged with RegentPacific Group Limited, a public company listed on the Hong Kong Stock Exchange. Stephen R Dattels is currently interested in 60,000,000 ordinary shares,representing 13.97% of the issued share capital of Polo Resources. Paul Ingram, Chief Executive Officer, aged 54. Mr. Ingram is a geologist with extensive experience in managing major mineralexploration programmes for several publicly listed companies. He has designedand implemented innovative techniques for exploration in remote areas, and hasmanaged projects in countries throughout Australia and East Asia. Mr. Ingram has been involved in mineral exploration and development for overthirty years. He was formerly Managing Director of Menzies Gold Ltd andExploration Director of Caledon Resources PLC. Mr. Ingram has a bachelor of applied science (geology) degree from QueenslandUniversity of Technology and is a member of the Australian Institute of Miningand Metallurgy and the Mining Industry Consultants Association. Paul Ingram does not currently hold any ordinary shares in the issued sharecapital of Polo Resources. Appendix Information provided in accordance with paragraph g of Schedule 2 to the AIMrules: (i) the director's full name and age together with any previous names; Stephen Roland Dattels, 60, None (ii) the names of all companies and partnerships of which the director has beena director or partner at any time in the previous five years, indicating whetheror not the director is still a director or partner; Directorships in the past five years: Caledon Resources PLCEuropean Minerals CorporationEverfor Diamonds PLCOriel Resources PLCUramin Inc. Current Directorships: CCEC LimitedEmerging Metals LimitedRegent Discovery LimitedRegent Mercantile Bancorp Inc.Regent Mercantile Limited Information provided in accordance with paragraph g of Schedule 2 to the AIMrules: (i) the director's full name and age together with any previous names; Paul Anthony Ingram, 54, None (ii) the names of all companies and partnerships of which the director has beena director or partner at any time in the previous five years, indicating whetheror not the director is still a director or partner; Directorships in the past five years: None Current Directorships: Caledon Coal Ltd.Caledon Resources PLCConsolidated Global Investments LimitedFabian Entertainment Pty Ltd.Siam Resources Ltd. Stephen Dattels resigned as a director of Werner Dahnz Company Limited inNovember 1988. Werner Dahnz Company Limited went into liquidation in August1989. Mr. Dattels resigned as a director of Java Gold Corporation in April 1998and Java Gold Corporation ceased trading on 17 August 1999. Mr. Dattels resignedas a director of Currency Network PLC on 15 November 2001. Currency Network PLCwas dissolved on 23 July 2002. On 26 November 2001, a wholly owned subsidiary ofCurrency Network PLC, Currency Network (UK) Limited, of which Mr. Dattels hadnever been a director, was placed in creditors' voluntary liquidation. Paul Ingram was a director of Menzies Gold Limited, an Australian registeredcompany, when on 30 January 2003, Menzies Gold Limited entered into voluntaryadministration. A deed of company arrangement was prepared and total debtestimated at £2.3 million. Menzies Gold Limited has since been re-listed. - Ends- Contacts: Polo Resources Limited: Guy Elliot (Non-Executive Chairman) Tel +1 941 284 5954Suresh Hiremath Tel +44 (0) 207 586 4629 Canaccord Adams Tel +44 (0) 207 050 6500Robin Birchall/ Andrew Chubb Financial Dynamics Tel: +44 (0) 20 7831 3113Ben Brewerton Edward Westropp This information is provided by RNS The company news service from the London Stock Exchange