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ORA BANDA MINING LTD — Board/Management Information 2017
Aug 9, 2017
65475_rns_2017-08-09_74b26c98-8aff-4a76-95e1-b96e08211c57.pdf
Board/Management Information
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ASX ANNOUNCEMENT 10 August 2017
INFORMATION CORRECTION – FOTIOS TO REMAIN EXECUTIVE CHAIRMAN
Eastern Goldfields Limited (ASX:EGS) (“Eastern Goldfields” or “the Company”) has today confirmed that Mr Michael Fotios is expected to remain Executive Chairman of the Company for at least 12 months, following inaccurate media reporting after his Diggers and Dealers Presentation on 8 August 2017.
The Company confirms that it is searching for a CEO to take over the day-to-day running of Eastern Goldfields, and that the CEO would likely move into a position of Managing Director in time. It is anticipated that this would be a 12-18 month process, at which time Mr Fotios would step back from his current position of Executive Chairman and move into a Non-Executive Chairman role.
Investor Enquiries
Michael Fotios
Executive Chairman
T: +61 8 6241 1866 E : [email protected]
Jon Snowball FTI Consulting
T: +61 477 946 068 E: [email protected]
ISSUED CAPITAL
Shares: 560.4m Options: 58m Current Share Price: $0.25 Market Capitalisation: $140.1m Cash as at 30/06/2017: $13,000*
*Excluding total debt facilities of $35.0m, see ASX announcement 31 Jan 2017. Drawn to date $15.7m.