TSG.L Regulatory News (TSG)

9 Nov 2005 11:06

Trans-Siberian Gold PLC09 November 2005 news release For immediate release: Wednesday 9 November 2005 Trans-Siberian Gold plc NEW CEO AND COO FOR TRANS-SIBERIAN GOLD Trans-Siberian Gold plc ("The Company" or "TSG") announces that Jocelyn Wallerwill stand down as Managing Director and Chief Executive Officer of TSG as from21 November 2005. He will be replaced by Jonathan Best. Jonathan Best, aged 57, retired as Finance Director of AngloGold Ashanti Limited("AGA") in July 2005 after 26 years of holding various financial managementpositions in the Anglo American group and AGA. The Company also announces the appointment of Glen Koropchuk as Chief OperatingOfficer, who is being seconded to TSG under its Technical Consultancy Agreementwith AGA. Glen Koropchuk, a Canadian mining engineer aged 43, has been with theAnglo American group since 1989. Most recently he was for almost three yearsGeneral Manager of the Morila gold mine in Mali. Jonathan Best has agreed to take up this appointment for a period of up to sixmonths pending the recruitment of a new CEO, while the duration of GlenKoropchuk's secondment will be agreed between TSG and AGA from time to time butwill be for an initial period of six months. The TSG Board is satisfied that Jonathan Best will act in the interests of allTSG's shareholders. At the same time, it believes that these appointmentsunderline the commitment of AGA, which has a 29.8% stake, to the development ofTSG. Jocelyn Waller who has been CEO since the Company was formed in 2000 will remaina Director of TSG in a non-executive capacity. He will also for a period ofthree months act as a consultant to the Company to assist with the transition tothe new management team. Jeremy Marshall, Chairman, comments: "We believe that the dual appointments ofJonathan Best as CEO and Glen Koropchuk as COO will strengthen the Company'smanagement at an important time in its development from explorer to miner. Itshows the commitment of our major shareholder AngloGold Ashanti to Russia and tomaking TSG a success. I am also pleased that Jocelyn Waller, without whosevision, entrepreneurial flair and energy there would be no TSG, is staying on asa Director and as a consultant to help bed in the new management team." Contacts: Jeremy Marshall (Chairman, TSG) +44 7771 867887 Jocelyn Waller (Managing Director, TSG) +44 1223 26576 +44 7778 164376 Jonathan Best (Managing Director designate, TSG) +27 82 559 8018 Chris Howard (Collins Stewart) +44 20 7523 8314 Keith Irons (Bankside) +44 20 7367 8873 +44 7885 356 639 This information is provided by RNS The company news service from the London Stock Exchange