Vatukoula Gold Mines PLC Vatukoula Announces Resignation of CEO (6927E)
11 Aprile 2014 - 5:35PM
UK Regulatory
TIDMVGM
RNS Number : 6927E
Vatukoula Gold Mines PLC
11 April 2014
11 April 2014
Vatukoula Gold Mines plc
("Vatukoula" or "the Company")
Vatukoula Announces Resignation of CEO David Paxton
The Board of Directors of Vatukoula (AIM: VGM) today announces
that David Karl Paxton has tendered his resignation as Chief
Executive Officer ("CEO") of the Company and will resign from the
Board of Directors, effective immediately.
The Board would like to thank Mr. Paxton for his dedication,
leadership and contribution to the Company during his tenure as
CEO. Mr. Kevin Zhu, current Mine Manager of the Vatukoula Gold Mine
has been appointed Chief Operating Officer ("COO") of the Company
and will take over Mr. Paxton's principle roles and
responsibilities. The COO role will remain a non-Board position and
the Chairman Ian He will assume the former Board responsibilities
of the CEO.
Mr. Paxton said "It has been a great pleasure to serve as CEO of
the Company during the last six years and now that Vatukoula has
finalised the outstanding US$20 million loan note agreement, the
Company is well placed to increase production to its long term
targets. It has been a privilege to work with Vatukoula and the
entire Company's team, and to have the mine advanced to its current
state. I would like to thank shareholders for their continued
support and look forward to the Company's transition to a low cost
gold producer".
Mr. Ian He, Non-Executive Chairman said "We would like to thank
David for bringing Vatukoula to this point. We wish him well in his
endeavors and look forward to VGM's continued progress."
Enquiries:
Vatukoula Gold Mines plc
Ian He + 44 (0)20 7440 0643
W.H. Ireland Limited Bell Pottinger
James Joyce + 44 (0)20 7861
James Bavister + 44 (0)20 7220 1666 Daniel Thöle 3232
This information is provided by RNS
The company news service from the London Stock Exchange
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