Stratex International PLC Appointment of New CEO (6540I)
September 01 2016 - 1:00AM
UK Regulatory
TIDMSTI
RNS Number : 6540I
Stratex International PLC
01 September 2016
Stratex International plc / Index: AIM / Epic: STI / Sector:
Mining
Stratex International Plc
('Stratex' or 'the Company')
Marcus Engelbrecht Appointed as Director and New Chief Executive
Officer
The Board of Stratex International plc an AIM-quoted exploration
and development company focused on gold and base metals in West
Africa and Turkey, announces the appointment of Marcus Engelbrecht
to the Board and as Chief Executive Officer ('CEO'), replacing
current CEO and founder director Dr Bob Foster, who is retiring
from the Board after more than 10 years.
Christopher Hall, Chairman of Stratex, commented: "The Company
is extremely fortunate to have secured the services of Marcus
Engelbrecht to take over from Bob as a director and CEO. I have
known Marcus since he was Managing Director of Archipelago
Resources plc and have every confidence that he will continue the
development of the Company as a successful explorer and mine
developer.
"Stratex has been considering its Board succession plan for some
time, to ensure the continued strength and experience of the
Company's management team when directors retire. Bob, who founded
the Company with former Chairman David Hall in 2005, has played a
critical role in its development and success as an explorer and
discoverer in Turkey, where our 45% owned Altıntepe gold mine is
now in production, in the East African Rift Valley and more
recently in West Africa. The Board, management team and
shareholders owe him a huge debt of gratitude for his input over
the last decade and we are fortunate that he has agreed to act as a
consultant to the Company."
Marcus is a senior executive with 30 years' experience in the
global mining industry at Board level and has demonstrated an
ability to articulate a strong corporate vision and attract, build
and motivate highly effective management teams. From 2011 to 2013
he was Managing Director and CEO of Archipelago Resources plc,
formerly an AIM-quoted, Singapore-based gold company with a
producing mine in Indonesia, a turnover of c. US$200m and
annualised gold production of 150 koz. During his tenure, Marcus
successfully took the company from construction to production.
Prior to that, Marcus was Chief Financial Officer of OceanaGold
Corporation, an Australian-based gold company listed on the ASX,
TSX and NZX. He also spent 20 years in various roles at BHP
Billiton, including Chief Financial Officer of the group's Diamond
and Specialty Products division.
Marcus David Engelbrecht (aged 56) is, or has been, a director
or partner of the following companies or partnerships during the
past five years:
Current directorships Past directorships and partnerships
and partnerships
---------------------- ------------------------------------
Xanadu Mines Ltd Archipelago Resources plc
---------------------- ------------------------------------
Archipelago Metals Limited
(Australia)
---------------------- ------------------------------------
Archipelago Resources Holding
Pte Limited (Singapore)
---------------------- ------------------------------------
Metals Holding Pte Limited
(Singapore)
---------------------- ------------------------------------
Archipelago Resources Pte
Limited (Singapore)
---------------------- ------------------------------------
Archipelago Resources Pty
Limited (Australia)
---------------------- ------------------------------------
Archipelago Resources Corporate
Pty Limited (Australia)
---------------------- ------------------------------------
Archipelago Resources Vietnam
Pty Limited (Australia)
---------------------- ------------------------------------
Archipelago Resources Vietnam
Pte Limited (Singapore)
---------------------- ------------------------------------
Metals Vietnam Pte Limited
(Singapore)
---------------------- ------------------------------------
PT Meares Soputan Mining
(Indonesia)
---------------------- ------------------------------------
PT Tambang Tondano Nusajaya
(Indonesia)
---------------------- ------------------------------------
There is no further information required to be disclosed in
respect of the above appointment pursuant to Schedule 2 (g) of the
AIM Rules for Companies.
As part of Marcus' remuneration, he will today be issued ('Date
of Grant') with options over 6,000,000 ordinary shares of 1 pence
('Ordinary Shares') in the capital of the Company (the 'Options').
The Options will be issued at an exercise price of 1.78 pence per
Ordinary Share, being the closing middle market price on 31 August
2016, and will vest in equal tranches over a period of 3 years, on
each anniversary of the Date of Grant. The Options are valid for a
period of 10 years from the Date of Grant.
Marcus currently holds no shares in the Company.
* * ENDS * *
For further information please visit
www.stratexinternational.com, email info@stratexplc.com, or
contact:
Stratex International Tel: +44 (0)20 7830 9650
Plc
Marcus Engelbrecht / Christopher Hall / Claire
Bay
Grant Thornton UK LLP Tel: +44 (0)20 7383 5100
Philip Secrett / Jen Clarke / Daniel Bush
Hannam & Partners Tel: +44 (0)20 7907 8500
Neil Passmore
The information contained within this announcement was
considered to be inside information, for the purposes of Article 7
of EU Regulation 596/2014, prior to its release.
Notes to Editors:
Since listing in 2006, Stratex has discovered more than 2.2
million ounces of gold and 7.09 million ounces of silver, as well
as 186,000 tonnes of copper. The Company achieved first gold pour
at its 45%-owned Altıntepe gold mine in Turkey in November 2015 and
as at 30 June 2016, the Mine had generated revenues of US$33.39
million. It also owns 30% of a copper-gold project at feasibility
stage. With its current cash position, projected cash returns and
no debt, the Company is well-placed to advance its existing
exploration programmes and is also actively seeking to acquire
advanced projects that are at the drill-ready stage or even have
identified resources.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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