5 Mar 2018 07:00
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No. 596/2014 until the release of this announcement
5 March 2018
Tri-Star Resources plc
("Tri-Star" or the "Company")
Directorate Changes
Tri-Star announces that Guy Eastaugh has stepped down as Chief Executive Officer and as a Director of the Company with immediate effect. The Board has appointed Karen O'Mahony, non-executive director, as Acting CEO and CFO to oversee the transition of the Company.
In addition, Dr Scott Morrison will resign his position as Non-Executive Director with effect from 8th March 2018. Scott was Chair of the Company's Audit Committee and joined the Board in July 2017. David Fletcher, a current non-executive director on the Board, will replace him in this role.
Mark Wellesley-Wood, Executive Chairman of Tri-Star, said: "Guy joined the Board in June 2014 as Chief Financial Officer and was later appointed Chief Executive Officer in September 2015. During his tenure he has helped to guide the Company through a difficult market for the resources industry and progressed our involvement in the Omani antimony project. Scott Morrison has provided great counsel as a non-executive director and we are grateful for his efforts. We wish them all the best in their future endeavours."
Karen has been a non-executive director of the Company since June 2017. Her firm, PE Advisors Ltd, advised Odey Asset Management ("Odey AM") on the debt for equity swap that led to Odey AM taking a majority equity stake in Tri-Star Resources Ltd in 2017. Karen is also non-executive director of Strategic & Precious Metals Processing LLC (SPMP), which is 40% owned by Tri-Star and constructing the Oman Antimony Roaster. In her role as Director of SPMP, Karen has been instrumental in the structuring and sourcing of new equity and bank funding, the reset of the SPMP management team and the refocusing of the commercial side of SPMP's operations.
For further information please visit the Company website: http://tri-starresources.com
Enquiries:
Tri-Star Resources plc
Karen O'Mahony, Acting Chief Executive Officer
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Tel: +44 (0) 207 653 6290 |
SP Angel Corporate Finance (Nomad and Broker) Robert Wooldridge / Jeff Keating
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Tel: +44 (0) 20 3470 0470 |
Yellow Jersey (Financial PR) Charles Goodwin / Joe Burgess |
Tel: +44 (0) 776 932 5254 |