Board Changes and Director Appointment

 

27 July 2010
AIM: JLP
JSE: JBL
Registration number: 4459850
ISIN: GB0031852162

Jubilee Platinum Plc
(“Jubilee” or “the Company”)

Board Changes and Director Appointment

 

Jubilee wishes to announce the following board changes and new appointment:

Jubilee is pleased to announce that Colin Bird, currently Chief Executive Officer (“CEO”), will assume the role of non-executive Chairman with effect from 1 August 2010, relinguishing his duties as CEO. Malcolm Burne is stepping down as non-executive Chairman, due to other commitments.

Leon Coetzer will assume the role of CEO with effect from 1 August 2010, relinquishing his position as MD Smelting and Refining.

The Company is pleased to announce that Eduard Victor, a newly appointed director, will take on the role of Finance Director with effect from 1 August 2010.  Andrew Sarosi will relinquish his duties as Finance Director and will continue as Executive Director from the same date.

Malcolm Burne commented, “These changes and appointment are appropriate for the rapidly developing nature and operations of the Company. I welcome Leon Coetzer in his new role as CEO and wholeheartedly support Colin Bird as my replacement.”

Colin Bird commented, “Following the Company’s successful acquisition of Braemore Resources and the focus on commercialization of ConRoast technology, it is appropriate and timely that I step down as CEO. The appointment of Leon Coetzer, who is spearheading the ConRoast programme, is integral to Company succession planning. He brings to the Company top-drawer technical expertise and experience of the platinum industry.  I look forward to supporting him fully in the commercial development of ConRoast. As chairman I will continue to take an active role in the Company’s diverse activities.”

The board wishes to thank Malcolm Burne for his services and guidance in the development of Jubilee from a fledgling junior to a maturing operational entity.

Mr Burne and his associates intend to retain their shareholding in the Company and fully support management as it develops its exciting growth strategy.

 The board is pleased to welcome Eduard Victor as Finance Director.  Since Jubilee’s take over of Braemore, Eduard has efficiently facilitated the seamless integration of Braemore’s financial affairs with that of the Company. He brings to the board, and Jubilee, extensive company and corporate financial experience as well as mining experience, having served for a period as acting mine manager of a gold mine. 

 Eduard Victor (43), accountant and graduate B Com in Accounting Science, is currently corporate development executive for Jubilee. After serving articles with Malan & Du Preez and six years accounting experience he became financial manager of Harmony Gold Mine (2000 to 2006), including a period as acting mine manager with their Evander gold mine. From 2006 to 2009 he was executive business manager with Pan African Resources plc. 

There is no further disclosure relating to Eduard’s appointment required under paragraph (g) of Schedule 2 of the AIM Rules for Companies or in terms of paragraph 3.59 of the JSE Limited Listings Requirements.

 

For further information please contact:

 

Colin Bird                                                     Michael Kinirons/Nick Rome                  

Jubilee Platinum plc                                  Bishopsgate Communications Ltd

Tel +44 (0) 20 7584 2155                           Tel +44 (0) 20 7562 3350     

+27 (0) 11 253 3280           

 

Andrew Sarosi                                            Leon Coetzer

Jubilee Platinum plc                                  Jubilee Platinum plc         

Tel +44 (0) 1752 221937                            Tel  +27 83 455 7749         

 

 

Sharon Owens/Leonard Eiser                Ed Frisby/Rose Herbert

Sasfin  Capital                                             finnCap Ltd 

Tel +27 (0) 11 809 7500                              Tel +44 (0) 20 7600 1658