20 Jul 2009 07:00
ο»Ώ
20thΒ July 2009Β
VANE MINERALS PLCΒ
("VANE" or "the Company")
Appointment of Chairman
VANE announces the appointment of Sir Richard Francis Needham,Β 67, asΒ Non-executiveΒ Chairman of the Company, with effect from today.Β
SirΒ RichardΒ has significantΒ public company Board experience,Β and is currentlyΒ Chairman of Avon Rubber Plc, Vice Chairman of NEC EuropeΒ andΒ a Director ofΒ Dyson Limited.Β PreviouslyΒ he has been a Director of GEC Plc, Meggitt Plc and he was chairman ofΒ Biocompatibles Plc for six years.Β
Sir Richard was a Member of Parliament forΒ 18Β years andΒ aΒ MinisterΒ for 10 years.Β He spentΒ sevenΒ yearsΒ from 1985-1992Β as theΒ Minister responsible for the regenerationΒ ofΒ Northern Ireland's economy.Β During that time, he privatisedΒ Northern Ireland's electricity service and was the provinces Minister for Energy. In 1992Β Sir RichardΒ was subsequently promoted to Minister of TradeΒ where heΒ wasΒ responsible, underΒ MichaelΒ Heseltine,Β forΒ restructuring theΒ UK's external trade and export strategy.Β During this period he took trade missions,Β many of them energy related,Β to 42 different countries.Β
The combination of international business experience andΒ running major departments ofΒ GovernmentΒ willΒ bring toΒ VANEΒ experiences and contacts which they do not currentlyΒ possess.Β VANE hasΒ aΒ producingΒ silver/gold assetΒ inΒ MexicoΒ thatΒ helpsΒ supports uranium and copper exploration in theΒ United States. UraniumΒ exploration is highly specialised and represents one of the key potential alternativeΒ fuelsΒ to hydrocarbon electricity generation available toΒ Governments today.Β
SirΒ RichardΒ will be based in theΒ UKΒ and willΒ assist in the Company's strategic development, while overseeing the interests ofΒ shareholders.Β As VANE develops its uranium assets towards production,Β Sir Richard will assist in building relationships with global customers andΒ GovernmentsΒ in theΒ USΒ and around the world.Β
Commenting today Steve Van Nort, CEO of VANE Minerals, said:Β
"We are delighted to welcomeΒ SirΒ Richard to theΒ Board;Β he will bring with him a wealth of experienceΒ ofΒ internationalΒ business and inΒ the runningΒ ofΒ UKΒ public listed companies. While our uranium exploration andΒ silver/gold production operations are based in theΒ Americas, our coreΒ shareholder base is in theΒ UK, tradingΒ onΒ AIM. Sir Richard Needham is an important addition to the VANE BoardΒ and willΒ help us to determine and communicate the best long-term growth strategy to derive maximum value for all shareholders."
Sir Richard Needham went on to say:
"I look forward to working with the Board of VANEΒ as I believe it hasΒ significantΒ opportunitiesΒ inΒ the promotion of cleanΒ energyΒ supply.Β VANE hasΒ anΒ expert team capable of identifying and developing uranium, copper and gold assets. My role will be toΒ help the development of the company,Β bringing in myΒ broadΒ international and political expertise". Β
- ENDS -
For furtherΒ information, please contact:
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VANE Minerals Plc |
+44 (0) 20 7667Β 6322 |
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Matthew Idiens Arbuthnot SecuritiesΒ John Prior |
+44 (0) 20 7012 2000 |
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Threadneedle CommunicationsΒ |
+44 (0)Β 20 7653 9850 |
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Laurence Read/Β Beth Harris |
+44 (0) 79 7995 923 |
Additional disclosures
The Right Honourable Sir Richard Francis Needham (67) has, in the previous 5 years, held the following directorships:
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Current |
Previous |
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Smarta Enterprise Limited, |
Nyne Limited |
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Avon Rubber p.l.c., |
Newfield Information Technology Limited |
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Dyson James Limited, |
Disenco Energy plpc |
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Richard Needham Consultancy Limited, |
Deltadot Limited |
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NEC Europe Limited, |
Univillage Limited |
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United KingdomΒ -Β JapanΒ 21stΒ Century Group |
TCH 2 Limited |
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Worldtuna Corporation Limited |
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Worldtuna Marketing Limited |
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Biocompatibles International PLC |
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Dyson Limited |
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TCH 1 Limited |
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Fenix Media Limited |
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2 Travel Group plc |
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Network Programs (Europe) Limited |
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Hansard Group plc |
Sir Richard resigned as a non-executive director of TCT International plc onΒ 9 March 2001. An Administration Order was made againstΒ the companyΒ onΒ 16 January 2002.Β There was aΒ deficiency to creditorsΒ ofΒ approximately Β£253,000.Β
Sir Richard resigned as a non-executive director ofΒ iCollectorΒ plc onΒ 18 September 2001, upon its sale to Ableauctions.com, aΒ U.S.Β based online auctioneer.Β A resolution for the winding up of the company by Creditors Voluntary Liquidation was passed onΒ 28 February 2002. There was aΒ deficiency to creditorsΒ ofΒ approximately Β£2,958,000.
Sir Richard resigned as aΒ non-executiveΒ director of IX Imaging plc onΒ 11 March 2003. A resolution for the winding up of the company by Creditors Voluntary Liquidation was passed onΒ 30 June 2003. There was aΒ deficiency to creditorsΒ ofΒ approximately Β£2,490,000.
Sir Richard resigned as aΒ non-executiveΒ director of 2 Travel Group plc onΒ 3 December 2004. AΒ petitionΒ by creditorsΒ for the winding up of the company was presented to Court onΒ 15 December 2004Β and aΒ liquidator was appointed onΒ 26 May 2005.
Sir Richard resigned as aΒ non-executiveΒ director of Univilllage plc onΒ 18 April 2007. An Administration Order was made against the company onΒ 11 September 2007. There was aΒ deficiency to creditorsΒ ofΒ approximately Β£201,000.Β
Sir Richard was non-executive chairman of The Heart Hospital Limited, a wholly-owned subsidiary of Gleneagles Hospital (UK) Limited, untilΒ 9 November 2001Β when he resigned. The business and assets of The Heart Hospital were sold to University College London Hospitals NHS Trust in September 2001. OnΒ 7 November 2001, the creditors of The Heart Hospital Limited approved a Company Voluntary Arrangement proposed by The Heart Hospital Limited, subject to certain modifications. The main creditor was Gleneagles Hospital (UK) Limited, representing approximately 85 per cent. of the total amount owing to creditors (approximately Β£17.6 million).Β
There is no further information to be disclosed in relation to Sir Richard pursuant to Schedule 2(g) of the AIM Rules.
ENDS
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