Stratmin Global Res - Appointment of New Non-Executive Chairman
RNS Number : 1289C
Stratmin Global Resources PLC
12 March 2014
 



12 March 2014

 

Stratmin Global Resources Plc

("Stratmin" or the "Company")

 

Appointment of New Non-Executive Chairman

Stratmin (AIM: STGR), the graphite production and exploration company with assets in Madagascar, today announces that Mr. Gobind Sahney is passing on the role of Non-Executive Chairman to Mr. John Laurie Hunter ("Laurie") and will be resigning from the Board with immediate effect. The Board of Stratmin is unanimous in its thanks to Gobind for all his work with Stratmin and its predecessor company.  Gobind will continue to provide consultancy services to the Board.

Laurie has over 40 years' experience in the financial and natural resource industries.  He was CEO and Chairman of Madagascar Oil Limited (AIM: MOIL) ("Madagascar Oil"), the principal onshore oil company in Madagascar, from 2008 to 2012. During this time he was responsible for overseeing a significant increase in its resource base, the IPO of Madagascar Oil at a $280m pre-money valuation in November 2010 and raising in excess of $100m funding.  He also led the successful process to confirm the legitimacy of the company's licenses. Laurie has a deep understanding of Madagascar, which is further supported by his extensive connections in the country. 

Laurie has held senior management and board positions at several other resource companies during his career and has extensive investment banking experience. Laurie also holds a MA joint honours degree in Politics, Philosophy and Economics from Trinity College, Oxford.

 

Manoli Yannaghas, Stratmin's Managing Director, said:

 

"Gobind has played an integral part in Stratmin's development. His skills and expertise in guiding the Company through the early stages and its current challenges have left us in a strong position from which to build. I would like to take this opportunity to thank Gobind for his efforts and we wish him every success in his future endeavours.

 

"We are delighted to appoint Laurie as the new Non-Executive Chairman of Stratmin. His experience and in-country knowledge of Madagascar, we believe, will prove invaluable to the Company. His achievements during his time at Madagascar Oil highlight his capability in helping to guide and manage AIM listed companies, such as Stratmin.

 

"We have reached a key milestone, with production expected next month, and I look forward to working with Laurie as we enter into this new and exciting stage of the Company's development."

 

Gobind Sahney, former Non-Executive Chairman, commented:

 

"It has been a long year since we completed the acquisition of Graphmada and given all of the challenges, I am pleased to make this transition at a point when I feel we now have the right individuals in place to take the Company to the next level for the benefit of all shareholders."

 

Laurie Hunter, newly appointed Non-Executive Chairman, commented:

 

"I am very pleased to join the Board of Stratmin at this important stage of its development. I look forward to utilising my experience in Madagascar and working with the team to develop the Company's commercial prospects."

 

 

 

John Laurie Hunter (aged 67):

 

Current directorships/partnerships:                            Past directorships/partnerships (past 5 years):

 

Living Cell Technologies Limited                         Madagascar Oil Limited

Hunter Capital LLC                                                        Trident Exploration Corp.*

                                                                                    Direct Petroleum Exploration Inc.

                                                                                    Trident Resources Corp.*

                                                                                    Trident USA Corp.

                                                                                    Sulphur River Partners

           

 

 

*From 2009 to 2010 Mr. Hunter was a director of Trident Resources Corp. and Trident Exploration Corp., during which time both companies were in reorganization under the US Code Chapter 11. Mr Hunter was appointed to represent the interests of the equity shareholders. The Plan of Reorganisation for each company was approved in June 2010 with Mr. Hunter's efforts.

 

No further information is required pursuant to Schedule 2(g) of the AIM Rules for Companies.

 

For further information please visit www.stratminglobal.com or contact:

 

Stratmin Global Resources Plc

+44 (0) 20  7467 1700

Manoli Yannaghas (Managing Director)




Strand Hanson Limited (Nominated & Financial Adviser)

James Spinney / Ritchie Balmer

 

Hume Capital Securities Plc (Sole Broker)

Jon Belliss / Abigail Wayne

+44 (0) 20 7409 3494

 

 

+44 (0) 20 3693 1470



Blytheweigh (Financial PR)

Tim Blythe / Halimah Hussain / Camilla Horsfall

+44 (0) 20 7138 3204

 

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