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ALARA RESOURCES LIMITED — Board/Management Information 2014
Nov 4, 2014
64461_rns_2014-11-04_25ebecb9-4677-437d-83fb-c4320b8e23c0.pdf
Board/Management Information
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Alara Resources Limited A.B.N. 27 122 892 719
Telephone | +61 8 6323 5900 Facsimile | +61 8 6323 5999 Web | www.alararesources.com Email | [email protected]
Level 3, 35 Havelock Street West Perth, Western Australia 6005 AUSTRALIA PO Box 1890 West Perth, Western Australia 6872
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ASX/MEDIA RELEASE
Wednesday, 5 November 2014
Board Changes
Perth: Alara Resources Limited (ASX: AUQ) ( Alara or Company) announces the resignation of His Royal Highness Prince Abdullah bin Mosaad bin Abdulaziz Al Saud as a Non-Executive Director following his appointment by Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud to a high profile government position as General President of Youth Welfare, effectively, the Kingdom of Saudi Arabia’s minister of sport. In connection with this appointment, HRH Prince Abdullah is obliged to resign all private sector directorships.
Since his appointment[1] to the Alara Board, Prince Abdullah has provided key in-country assistance in the advancement of the Company’s Khnaiguiyah Zinc-Copper Project in Saudi Arabia and in Alara’s dealings with local Joint Venture partner, United Arabian Mining Company LLC (Manajem).
Prince Abdullah continues to believe that the development of the Khnaiguiyah Project is of strategic importance to the Kingdom in terms of support of Saudi Arabia’s emerging mining industry as well as for local industry, communities and employment.
In conjunction with this resignation, Alara is in turn pleased to announce the appointment of Mr James D Phipps, HRH’s Principal Advisor and, to date, Alternate Director on the Board of Alara, as a NonExecutive Director.
Mr Phipps is eager to continue HRH Prince Abdullah’s work toward the advancement of the Khnaiguiyah Project, as well as the progression of Alara’s other projects in Oman, and is of the view that the development of the Khnaiguiyah Project is of strategic importance to the Kingdom in terms of the country’s focus on mining as one of its three key economic pillars. Mr Phipps represents the interests of HRH Prince Abdullah on the boards of various public and private companies, a number of which he chairs.
James D Phipps B.A. (Philosophy), J.D. (Law)
Mr Phipps currently serves as Co-Chairman of Sheffield United Football Club, the first "United" and the first association football club worldwide and a founding member of the English Premiere League.
Mr Phipps co-chairs Blades Leisure Limited, which holds SUFC and other operating companies, including security and event management companies. He chairs Shout TV, Inc., a Lindon, Utah, based sports entertainment business and serves as principal advisor to HRH Prince Abdullah bin Mosaad bin Abdulaziz Al Saud, providing strategic advice relative to a worldwide portfolio of businesses, properties and investments. He sits on the board of the publicly listed Saudi Paper Manufacturing Company (Tadawul: 2300), the leading manufacturer of tissue paper products in the Gulf Region.
Mr Phipps has experience in corporate turnarounds and has served as chief executive or general manager at a number of companies in a turn-around capacity. He brings experience to the board in the context of Alara's Middle East and G.C.C. endeavours.
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1 Refer Alara’s ASX announcement dated 29 October 2013 and entitled “Appointment of Director”
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ASX Code | AUQ
20141105 AUQ ASX Board Changes
In acknowledging these changes to the composition of the Alara Board, Alara Chairman, Mr Ian Williams AO said:
“Alara has been very fortunate to have HRH Prince Abdullah on its Board; to represent the Company’s interests in Saudi Arabia and to advise the Board and Management Team as the Company transitions to be a base metals producer in Saudi Arabia.
On behalf of the Board, I thank HRH Prince Abdullah for his support and contribution to the Company and wish him every success with his new responsibilities.
Alara is pleased to have continuity for this influential Board position, with James Phipps transitioning to Non-Executive Director and continuing to represent Alara’s interests in the Kingdom at Board level.
Alara hopes to draw upon James’ local knowledge and expertise to advise and assist the Khnaiguiyah Project generally, and to potentially assist and guide in securing Project finance locally/regionally and the various regulatory approvals required for the Project’s development.
We welcome James to the Board in his new capacity as Non-Executive Director as we continue to focus on the successful progression of the Khnaiguiyah Project as soon as possible and on the clarification of the best way forward for Alara’s projects in Oman.”
– ENDS –
For further information, please contact: Philip Hopkins T | +61 8 6323 5900 Managing Director E | [email protected] Elle Macdonald T | +61 8 6323 5900 Corporate Affairs Manager E | [email protected]
About Alara Resources
Alara Resources Limited (ASX: AUQ) is an Australian-based minerals exploration and mine development company with a portfolio of projects in Saudi Arabia and Oman. Alara has completed a Definitive Feasibility Study (DFS) on its flagship Khnaiguiyah Zinc-Copper Project in Saudi Arabia and is completing an upgraded Advanced Scoping Study on its Daris/Washihi Copper-Gold Project in Oman. The Company is now transitioning towards establishing itself as an emerging base and precious metals mine development and production company.
For more information, please visit: www.alararesources.com
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