Minerva Resources plc (AIM : MVA)
("Minerva Resources" or "the Company")
Change of Board
Further to the announcement by Dwyka Resources Limited ("Dwyka")
stating that the recommended offer for the Company is now
unconditional in all respects, the entire board of Minerva Resources
(Andrew Daley, Terrance Ward, John Bottomley and Roger Clegg) have
now resigned and have been replaced by existing directors of Dwyka.
Melissa Sturgess has been appointed as CEO and Chairman.
Melissa has 15 years experience in the junior resources sector in
various corporate development roles. She was a founding director of
Churchill Mining Plc and Sylvania Resources Limited and is currently
Chairman and CEO of Dwyka.
Terence (Terry) McConnachie has been appointed as a Non-executive
Director
Terry has 25 years' experience in mining and beneficiation of
ferro-alloys and precious metals. He has served as CEO of Welprop
Mining Services and more recently of JSE-listed South African Chrome
& Alloys Limited, a black-empowered mining company which he was
instrumental in building into a multi-million Rand operation. He has
implemented a number of greenfields operations in gold, manganese,
aluminium, graphite and tantalite. He is the major shareholder and
CEO of Alumicor (Pty) Limited, which is constructing an aluminium
dross and scrap smelting facility in South Africa. Terry is
currently the Managing Director of Sylvania Resources Limited (listed
on AIM and ASX).
Dr Evan Kirby has been appointed as a Non-executive Director
Dr Evan Kirby is a metallurgist with over 30 years of international
involvement. At the end of 1975, he moved to South Africa and worked
for Impala Platinum, Rand Mines and then Rustenburg Platinum Mines.
In 1992, he moved to Australia to work for Minproc Engineers and then
Bechtel Corporation from 1997 until 2002. After leaving Bechtel, he
established his own consulting company and has had ongoing mining
project involvement. Evan's personal "hands on" experience covers the
financial, technical, engineering and environmental issues associated
with a wide range of mining and processing projects.
Cancellation of AIM Listing
As Dwyka has received valid acceptances of the offer in respect of
more than 75 per cent. of the voting rights attached to the Minerva
Resources shares, Dwyka is taking steps to procure the cancellation
of Minerva Resources' admission to trading on AIM. It is anticipated
that cancellation of trading will take effect at 7.00am on 23 July
2009. The cancellation of the trading of Minerva Resources' shares
will significantly reduce the liquidity and marketability of any
Minerva Resources shares not assented to the offer as there will be
no market facility for dealing in the Company's shares post
cancellation..
Melissa Sturgess, CEO, commented "I encourage all remaining Minerva
Resources shareholders to accept the offer made by Dwyka so that they
have an opportunity to continue to trade their shares on the AIM
platform."
For further information please contact:
Melissa Sturgess, CEO and Chairman
Minerva Resources plc
Tel: +44 (0)78 2555 1397
www.minervaresources.com
James Joyce/ Sarang Shah
W. H. Ireland
Tel: +44 (0)20 72201666
E-mail: james.joyce@wh-ireland.co.uk
Nick Rome
Bishopsgate Communications Ltd
Tel: +44 (0)20 75623350
E-mail: nick@bishopsgatecommunications.com
Melissa Josephine Sturgess - Age 42
Current Directorships
Dwyka Resources Limited
Washington Resources Limited
Past Directorships held within last five years
Bezant Resources Plc
Churchill Mining Plc
KimCor Diamonds plc
Sylvania Resources Limited
Vail Capital Pty Ltd
Evan Kirby - Age 58
Current Directorships
Bezant Resources Plc,
China Goldmines Plc
Dwyka Resources Limited
Global Resources Ventures Limited
Great Australian Resources Limited.
Metallurgical Management Services Pty Ltd
Past Directorships held within last five years
Sylvania Resources Limited
Washington Resources Limited
Wedgetail Exploration Limited
Terence Michael McConnachie - Age 53
Current Directorships
Danyland Mining SA
Dwyka Resources Limited
Dwyka Resources SA
Great Australian Resources South Africa
Hacra Mining and Exploration Company
Kyan Assets Mining Corporation SA
Ruukki Group Oyj
Summer Sun Trading 210
Sylvania Mining
Sylvania Resources Limited
Sylvania South Africa
Past Directorships held within last five years
Alumicor Intellectual Property
Alumicor Maritzburg
Alumicor SA Holdings
Merafe Chrome and Alloys
Merafe Ferrochrome and Alloys
Merafe Resources
Nduzi Real Estate Projects
Sylvania Metals
Sylvania Minerals
No further information is required to be disclosed in accordance with
Schedule 2(g) of the AIM Rules for Companies.
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This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
