Centamin Egypt: Changes to the Board of Directors
31 December 2009 - 11:30PM
Marketwired
Centamin Egypt Limited ("Centamin" or "the Company") (TSX:
CEE)(LSE: CEY)(ASX: CNT) announced on 27 November 2009 at the
Annual General Meeting, Sami El-Raghy will today be standing down
as the Chairman of Centamin and as a member of the Board to pursue
new personal endeavours and challenges. Sami El-Raghy has been a
director of the Company since 29 April 1993 and led the Company
into Egypt after having recognised its prospectivity for gold and
the potential for large-scale mining. During his time on the Board,
Sami has overseen a successful transformation of the Company from a
mining exploration company into a mid tier gold producer. The Board
would like to take this opportunity to extend their gratitude to
Sami El-Raghy for all of his time, work and sacrifices to get the
Company to where it is today.
Sami El-Raghy remains a substantial shareholder and supporter of
the Company and will continue to be available to advise the Board
and management when required.
Furthermore, the Company wishes to advise that Mr Gordon Brian
Speechly has today decided to step down from the Board due to other
work commitments. Mr Speechly has been a director of the Company
since 15 August 2000. The Board would like to take this opportunity
to thank Mr Speechly for his contribution over the past nine years
and wish him well in his future endeavours.
In light of the changes mentioned above and the recent admission
to the Official List of the London Stock Exchange, the directors of
Centamin are committed to ensuring the highest standards of
corporate governance and ensuring that the Company has the
appropriate Board structure. As such, Centamin is in discussions
with various candidates with regard to the composition of the
Board, including the possibility of appointing additional
independent non-executive directors.
For Centamin Egypt Limited
Josef El-Raghy, Managing Director/CEO
ABN 86 007 700 352
Contacts: Centamin Egypt Limited Josef El-Raghy + 61 (8) 9316
2640 www.centamin.com Buchanan Communications Limited Bobby Morse +
44 (0) 207 7466 5000 Buchanan Communications Limited Ben Willey +
44 (0) 207 7466 5000
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