Board Changes and Appointments (0615J)
27 June 2011 - 4:01PM
UK Regulatory
TIDMTNZ
RNS Number : 0615J
Tanzanite One Limited
27 June 2011
TanzaniteOne Limited
("TanzaniteOne" or "the Company") (AIM: TNZ)
Board Changes and Appointments
TanzaniteOne Limited is pleased to announce that, effective
immediately, Ed Nealon will assume the role of Non-executive
Chairman having previously been Non-executive Deputy Chairman; and
Ami Mpungwe will become Non-executive Deputy Chairman having
previously been Executive Chairman. Mr Mpungwe will continue to
serve as Chairman of TanzaniteOne Mining Limited, the Company's
primary operating subsidiary in Tanzania and will focus on
strengthening and developing relationships within Tanzania.
The Company is also pleased to announce the appointment of Mr
Farai Manyemba to the Board as Finance Director, with immediate
effect.
Farai Manyemba, aged 37, is a Chartered Accountant with over 10
years of accounting and finance experience with a number of
companies including Deloitte & Touche, Zimasco (Pty) Limited
and Mimosa Platinum (Pty) Limited, a company jointly owned by
Impala Platinum Ltd and Aquarius Platinum Ltd. In January 2007,
Farai joined the Company as financial manager and has been
instrumental in group systems and controls, cost and cash
management and reporting as well as being part of the executive
team implementing the strategy of the Group. Farai has been
involved with the mining industry in Southern Africa over the last
10 years and is currently a director in various subsidiaries of the
Group.
TanzaniteOne Limited recently announced a return to profit for
the year ending 31 December 2010, achieving its production target
of 2.2 million carats, with total sales of US$ 15.9 million for the
year.
Commenting today, Chief Executive Officer, Bernard Olivier,
said; "We are pleased that Ed has accepted the position of
Chairman. Ed has extensive experience in creating successful
international mining companies, which is invaluable for the next
growth phase of the Company. The board is also delighted to welcome
Farai to the board as Finance Director. He brings with him
extensive accounting and finance experience and will be a valuable
asset to the Company as we look to build our business as a leading
premium coloured gemstone producer with a focus on providing value
to our shareholders."
Additional Information on Farai Manyemba
The information detailed below is disclosed in accordance with
Rule 17 and paragraph (g) of Schedule Two of the AIM Rules. Except
for the information disclosed in this announcement, there is no
other information which falls to be disclosed under these
rules.
Farai is currently director the following Companies, which are
all related to TanzaniteOne Ltd:
Tanzanite One Mining Limited
Tanzanite One SA Limited
EPZ Company Limited
The Tanzanite Polished Sales (Pty) Limited
Tanzanite One Marketing DMCC
For more information please contact:
Willi Boehm
Company Secretary
+61 409 969 955
Bernard Olivier
Chief Executive Officer
+61 4089 48182
Nominated Advisor & Broker (AIM)
Ambrian Partners Limited
Samantha Harrison / Jen Boorer
+44 (0) 20 7634 4700
Joint Broker XCAP Securities PLC
John Grant/Jon Belliss/David Newton
+44(0)2071017070
Threadneedle Communications
Laurence Read/Beth Harris
+44 (0)20 7653 9855
+44 (0)7979 955 923
Notes to Editors
TanzaniteOne is the largest and most scientifically advanced
miner and supplier of rough tanzanite, a unique position that
affords it the opportunity to support and influence the entire
channel, from mine to market, ensuring that maximum stakeholder
value is achieved at each stage of the process.
Our leading position in the tanzanite market has ensured
TanzaniteOne the recognition and respect of its peers and provides
the opportunity for expansion into a broader range of PCGs located
at various key sites around the world.
TanzaniteOne, which uses state-of-the-art optical sorters and
technically advanced processing and sorting methods, has further
enhanced its sorting techniques resulting in the unlocking of
further value in the B and BL categories. This initiative forms
part of the Group's stated refocus on its main production source,
lighter but equally brilliant stones. Additional evaluation
continues in this area as TanzaniteOne strives to unlock value in
this significant portion of its production.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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