LONDON: 11 October 2004 - Oxus Gold plc ("Oxus "or "the Company") (OXS.L) is pleased to announce that Mr Oliver Prior and Mr Douglas Sutherland have been appointed to the board as non-executive directors with immediate effect from Monday, 11 October 2004.
Douglas McLean Sutherland, age 67, is a chartered accountant with over 40 years experience in banking, of which 34 years were with the Nedbank Group where he held senior positions in Johannesburg and London in investment management, corporate finance and commercial lending.
Oliver Prior, age 57, began his career as a Lloyds' insurance broker and has served in several directorial roles for a number of Lloyds' insurance broking companies prior to joining Willis Faber Dumas Limited, as Chairman of the Financial Institutions and Specie Division. Oliver is currently a senior consultant with the FirstCity Partnership Limited.
The Company also announces changes to its corporate governance committees. The new Audit Committee comprises Michael Beckett, Mark Wellesley-Wood and Douglas Sutherland. The new Remuneration & Nominations Committee comprises Michael Beckett, Mark Wellesley-Wood and Oliver Prior. The new Independent Committee comprises Dan Kappes, Douglas Sutherland and Oliver Prior. Douglas Sutherland acts as the senior independent director.
Bill Trew, CEO of Oxus, commented: "I would like to welcome Douglas and Oliver to the board. Their significant combined financial and risk management experience will undoubtedly benefit the Company. Oxus is at an exciting stage in its corporate development, with Amantaytau Goldfields already in profitable production and Vysokovoltnoye and Jerooy both under construction. I am confident that we now have the right combination of executive and non-executive skills to continue to build a major mining company for the benefit of all our shareholders".
Douglas Sutherland is interested in 150,000 shares in the Company, representing 0.07% of the outstanding share capital. Oliver Prior is interested in 48,000 shares in the Company, representing 0.02% of the outstanding share capital.
Other Directorships
| Oliver Prior | |
|---|---|
| Present | Past |
| Oxus Gold plc | Willis Faber & Dumas Limited ("Willis") |
| Douglas McLean Sutherland | |
|---|---|
| Present | Past |
| Oxus Gold plc | Old Mutual International Fund Managers (IOM) |
| Nedcor Ltd | Old Mutual International Financial Services (IOM) Ltd |
| Group Insurance Co Ltd | NIB International Trust Co Ltd |
| Hansford Ltd (formerly NIB Holdings International Ltd) | |
| Hampsel Ltd (formerly NIB Enterprises Ltd) | |
| NIB International Asset Management Ltd | |
| Syfrets International Fund Administration Ltd | |
| Term Holdings Ltd | |
| Nedcor Trade Services Ltd | |
| Nedeurope Ltd | |
| Lancelot Ltd | |
| Nedzim Ltd | |
| Ramsec Ltd | |
| Old Mutual International (IOM) Ltd | |
| Old Mutual International Total Income Fund Ltd |
There is no further information to be disclosed pursuant to the AIM rules.
Contacts:
Oxus Gold plc
Richard Wilkins/Joanna Solino
Tel: +44 (0)207 907 2000
Bankside Consultants Ltd.
Keith Irons
Tel: +44 (0)207 444 4155
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