TIDMTSG
RNS Number : 0816R
Trans-Siberian Gold PLC
19 September 2017
Trans-Siberian Gold plc
("TSG" or the "Company")
Board Changes
Trans-Siberian Gold plc (TSG.L) announces the following changes
to the Board of Directors of the Company.
The Company is pleased to announce the appointment of Mr.
Florian Fenner, Mr. Ljupco Naumovski and Mr. Stewart Dickson
(together the "New Directors").
The Company also notifies the retirement of Mr. Peter
Burnell.
As previously notified, Mr. Alexander Dorogov, who has been
Finance Director of TSG's Russian subsidiaries since 2010 has
assumed the responsibilities of Chief Financial Officer. It is
expected that he will be appointed to the Board shortly.
Brief Biographies
Florian Fenner
Mr. Fenner joined UFG Asset Management as Managing Partner in
July 2002. In addition to his role as Managing Partner, Mr. Fenner
is also responsible for the overall management of UFG's public
markets funds business. Prior to joining UFG, from 2000 to 2002, he
was the Head of Unifund's Moscow office with responsibility for its
Russia portfolio. From 1996, Mr. Fenner served as the Deputy Head
of Research at Brunswick Brokerage, one of Russia's leading
investment banks and, in 1997, he became the Russian Equity
Portfolio Manager for Brunswick Capital Management. Before joining
Brunswick Brokerage, he worked as an investment banker for Schroder
Munchmeyer Hengst Co. in their Frankfurt office. Mr. Fenner is a
CFA charterholder and holds a degree in banking from Industrie- und
Handelskammer in Frankfurt-am-Main.
Lou Naumovski
Mr. Naumovski has more than three decades of experience working
in Russia, most recently as Vice President and General Director of
the Moscow office for Kinross Gold Corporation ("Kinross"), the
largest Canadian investor in Russia. He also developed the business
of Visa International, serving as Senior Vice President and General
Manager Visa International Service Organisation (VISA), CEMEA
region. Additionally, he served as Senior Banker and Head of
Mission for the Russian Team of the European Bank of Reconstruction
and Development ("EBRD" or the "Bank") in Moscow. While at EBRD,
the Bank undertook more than half a billion dollars in financing of
various projects, and he represented the Bank when the Russian
Prime Minister's Foreign Investment Advisory Council was first
founded.
Mr. Naumovski has a BA (Honours) in Economics and Political
Science from the University of Toronto and an MA in International
Relations (specialised in Russian / Soviet affairs) from the Norman
Patterson School of International Affairs at Carleton University in
Ottawa, Canada.
Stewart Dickson
Mr. Dickson has recently been appointed as Chief Executive
Officer of ASX listed Variscan Mines Limited, having accumulated a
decade of investment banking experience. His prior appointment was
as Managing Director and Head of Metals & Mining at Cantor
Fitzgerald Europe, based in London. He had responsibility for
client coverage of public and private mining companies across
precious metals and base metals, bulks, fertilizers and specialty
metals. He has a broad range of international financial advisory,
equity capital markets and corporate broking transaction experience
including initial public offerings, financings and M&A. Prior
to investment banking, Mr. Dickson served in the British Army as a
commissioned officer and saw operational service overseas. Stewart
is a graduate of University College London and holds a MBA from
Henley Business School.
Board Composition
The Board of TSG will comprise:
Name Age Position Appointed
----------------- ----- ------------------------ ------------
Charles Ryan 50 Non-Executive Chairman April 2009
Dmitry Khilov 59 Chief Executive July 2007
Officer
Robert Sasson 52 Non-Executive Director June 2013
Florian Fenner 46 Non-Executive Director September
2017
Lou Naumovski 60 Non-Executive Director September
2017
Stewart Dickson 39 Non-Executive Director September
2017
Board Committee Composition
The Company's Board committees will be constituted as
follows:
Chairman Members
Audit Committee Charles Ryan Robert Sasson,
Stewart Dickson
Remuneration Committee Charles Ryan Robert Sasson,
Lou Naumovski
Charles Ryan, Non-Executive Chairman of TSG, commented:
"We have overhauled our Board of Directors in line with our
commitment to good corporate governance practices and to actively
engage with capital markets. I welcome the New Directors and look
forward to working with them. I also thank Peter Burnell for his
wise counsel and significant contribution to the Company over a
long period of service."
Additional Information
The following additional information is provided in accordance
with AIM Rule 17 and Schedule Two, paragraph (g) of the AIM Rules
for Companies.
Details of the names of companies and partnerships (excluding
directorships of the Company) of which the New Directors are or
have been members of the administrative, management or supervisory
bodies or partners at any time in the five years preceding the date
of this document are set out below:
Name Current directorships/partnerships Past directorships/partnerships
------------------ ------------------------------------ ---------------------------------
Florian Wolfgang UFG Global Diversified Gemsstock Limited
Fenner Investments Limited Trans-Siberian Gold
UFG Investment Company plc
I Limited SM Domestic Property
UFG WM Fund Management AG
I Limited
UFG Gulf Investments
Limited
UFG Gulf Fund Management
Limited
UFG Russian Commercial
Real Estate Fund
I S.A., SICAV-SIF
UFG Global Hospitality
Real Estate Fund
I S.A., SICAV-SIF
UFG European Commercial
Real Estate Fund
I S.A., SICAV-SIF
Petrovka GmbH
Povarskaya Grundbesitz
GmbH & Co. KG
UFG Russia Select
Fund
KST Beteiligungs
AG
SM Wirtschaftsberatungs
AG
SM Capital AG
SM Beteiligungs AG
RCM Beteiligungs
AG
Soltowe GmbH
Ljupco Lou Euromax Resources Macedonia 2025
Naumovski Amur Minerals Corporation Centre of Financial
Canadian Executive Technologies / Zolotaya
Services Organization Korona
Canada Eurasia Russia
Business Association Chukotka Mining and
Geological Company
JSC (registered in
Russia as ZAO CGGK)
Chukotka Mining and
Geological Company
LTD (registered in
Russia as OOO CGGK)
The Mining Advisory
Council, Russia
Stewart James Variscan Mines Limited -
Dickson Manstone Resources
plc
FELDI Limited
Cantor Fitzgerald
LP
The New Directors do not hold any interest in the Company's
issued share capital save for Mr. Fenner who has a shareholding of
14.4%(1) of the Company's issued share capital. Additionally, Mr.
Fenner holds non-controlling equity interests in the General
Partners of UFG Russia Select Master Ltd, UFG Investors Ltd and UFG
Special Situations Fund L.P. which, in aggregate, hold
approximately 35.97% of the Company's issued share capital.
Note (1) held though his 100% ownership of both Petrovka GmbH
(1.56%) and UFG Investment Company I Limited (9,74%), and the
remainder of his shareholding held directly.
Ends
Contacts: TSG
+44 (0) 7799
Stewart Dickson 694195
+44 (0) 207
Cantor Fitzgerald Europe 894 7000
David Porter
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the
publication of this announcement via Regulatory Information Service
('RIS'), this inside information is now considered to be in the
public domain.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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