26 May 2010 07:00
Uranium Resources plc / Market: AIM / Epic: URA / Sector: Exploration
26 May 2010
Uranium Resources plc ('Uranium Resources' or 'the Company')
Board Appointment
Uranium Resources plc, the AIM listed uranium exploration and development company, is pleased to announce that it has appointed Viacheslav Medvedev as a Non-executive Director to the Board with immediate effect. Mr. Medvedev is also a Director of Estes Limited, a cornerstone shareholder of Uranium Resources, which is part of the Tangent Fund Group. The parent company, Tangent Fund Limited, a Cayman Islands fund, has investment funds in excess of US$773 million under managementand is active in growth companies within the resources sector. This appointment will further strengthen the relationship between the Company and its key strategic investor, Estes Limited, as Uranium Resources advances its strategy of building a leading uranium company.
Viacheslav Medvedev, a qualified geologist since 1980, specialising in prospecting and mineral exploration, worked for a number of exploration companies in Kyrgyzstan and Russia. In addition, Mr Medvedev has over 10 years of corporate experience having worked for a number of Russian focussed companies advising on matters of finance, accounting and business development. Mr Medvedev has also held various directorships during his career; from 1997 to 2005 he held the position of General Director of Skott, Riggs and Fletcher (Audit) Limited, a corporate consultancy and audit company specialising in the Russian corporate development and Russian and Western accounting systems. Currently, he is a member of the Board of Directors of Alef-Bank, a Russian Federation bank, and acts as an investment advisor of Eastlink Lanker plc, which was established to explore new industrial and financial investment opportunities in areas such as mineral exploration and extraction, equipment for oil extraction, banking and corporate consultancy.
Uranium Resources Managing Director Alex Gostevskikh said, "We are delighted to welcome Viacheslav Medvedev to the team, and are confident that his considerable industry and business acumen will prove an invaluable addition to Uranium Resources.
"He brings with him a wealth of experience within the investment community which will help the Company advance its exploration portfolio. We are also confident that Viacheslav's combination of hands-on experience in mineral exploration and corporate development as well as his enthusiasm about our projects will play a very important role in building Uranium Resources into a leading uranium exploration company."
Other information required by AIM Rules for Companies
The following information is provided in accordance with paragraph (g) of Schedule 2 of the AIM Rules for Companies.
Viacheslav Mikhailovich Medvedev, aged 51, is a director or has been a director of the following companies during the previous five years:
Current Directorships
Estes Limited
CJSC JSCB Alef-Bank
Directorships also held within the previous five years:
CJSC Skott, Riggs and Fletcher (Audit) Ltd
There are no other matters which are required to be announced with regard to these appointments under paragraph (g) of Schedule 2 of the AIM Rules.
**ENDS**
For further information please visit www.uraniumresources.co.uk or contact:
| Alex Gostevskikh | Uranium Resources plc | Tel: +44 (0) 7997 713377 |
| Ross Warner | Uranium Resources plc | Tel: +44 (0) 7760 487769 |
| Hugh Warner | Uranium Resources plc | Tel: +61 (0) 413 621 652 |
| Richard Swindells | Ambrian Partners Ltd (Nomad) | Tel: +44 (0) 20 7634 4700 |
| Hugo de Salis | St Brides Media & Finance Ltd | Tel: +44 (0) 20 7236 1177 |
| Felicity Edwards | St Brides Media & Finance Ltd | Tel: +44 (0) 20 7236 1177
|
Notes to editors
Uranium Resources plc is an AIM listed exploration and development company. It is the Company's strategy to advance its existing assets and strengthen its portfolio via opportunistic acquisition. Uranium Resources has uranium licences in the highly prospective Karoo Basin in Southern Tanzania where it currently has a land package in excess of 12,700 sq. km. Additionally it has a JV agreement with Rio Tinto Resources to develop the coal potential of 2,938 sq. km of the Company's exploration licence areas in southern Tanzania.