REG - Central Asia Metals - Succession Planning

Central Asia MetalsAnnouncement

04/07/2024 07:00

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RNS Number : 0613V  Central Asia Metals PLC  04 July 2024

4 July 2024

CENTRAL ASIA METALS PLC

('CAML' or the 'Company')

Succession Planning

Central Asia Metals plc (AIM: CAML) is pleased to announce its succession
plans for the CAML executive director team to ensure both continuity and
effective leadership for the future. The Company is sharing these details now
in order to communicate and commence the transition planning.

 

With effect from 1 October 2024, Nigel Robinson will step down as CAML's Chief
Executive Officer ('CEO'), having successfully led the business for over six
years. Also effective from 1 October 2024, CAML's current Chief Financial
Officer ('CFO'), Gavin Ferrar, will succeed Nigel as the Company's CEO.

 

Gavin has been with CAML for 10 years and has developed a deep understanding
of the business. The Board is confident he will lead the Company successfully
through its next phase of development and growth.

 

CAML's Executive Director of Corporate Development, Louise Wrathall, will be
appointed to the role of CFO on 1 October 2024, leading the strong existing
finance team.

 

In her current role, Louise's focus has been on business development and
investor relations. She will retain responsibility for these key aspects as
she moves into the CFO position, with those teams continuing to support her.
 

 

Nigel will remain on the Board after stepping down as CEO, initially as an
Executive Director, to provide support to Gavin and Louise as they transition
into their new roles through to 1 April 2025, at which time he will continue
on the Board as a non-executive director of the Company.

 

Gavin and Louise's future appointments have been carefully considered as part
of the Board's succession planning process. External expertise from a leading
independent executive and board search firm has also been used to consider the
appropriateness and readiness of both Gavin and Louise for their new roles.

 

Nick Clarke, Non-Executive Chairman, commented:

"I want to express my gratitude to Nigel for his hard work and dedication in
his CEO role. Nigel has led CAML through some challenging but ultimately very
successful years, during which time he has overseen the integration of the
Sasa mine, which we acquired immediately prior to his appointment, and its
subsequent capital investments, which will be concluded before the end of his
tenure as CEO. I am pleased that Nigel has agreed to remain on the Board and
take up the role of Non-Executive Director so that we can continue to benefit
from his experience and advice.

 

"I would like to congratulate Gavin on his promotion to lead CAML as our next
CEO. Gavin has worked with the team for 10 years, initially focused on
business development and then as our CFO for the last six years. Gavin has
overseen the strong financial performance of both Kounrad and Sasa during a
period where we have continued to create value for all stakeholders and have
repaid ahead of schedule the debt which we borrowed to acquire Sasa. Gavin's
appointment represents continuity for the Company in what is, and will remain,
a strong, close and capable team.

 

"I would also like to congratulate Louise on her new role. Louise is a
long-standing member of the CAML team having joined as Investor Relations
Director in 2015. Louise's background as a mining equity analyst and her
astute commercial acumen make her a great candidate for CFO and she will lead
a strong and experienced finance team. Responsibility for business development
and investor relations will remain with Louise, ensuring that our focus on
growth is not diminished by these changes."

Nigel Robinson, CEO, commented:

"It has been a privilege to have been an Executive Director of CAML for over
15 years, nine years as CFO and over six years as CEO. During that time, we
have achieved a lot and I have been proud to be part of a successful team that
has taken a small, private mining company in early 2009 through a public
listing in 2010, the successful construction of the Kounrad project and the
subsequent purchase and further development of the Sasa mine in North
Macedonia. Together, we have grown the business to one that generates strong
financial returns and is underpinned by a robust balance sheet and safe
operations.

 

"Whilst it has been a challenging journey at times, it has also been
thoroughly enjoyable and I am grateful to the CAML Directors for their
overwhelming support.  Over the past 15 years we have built a great team,
both in the UK and overseas, and now employ in excess of 1,000 people, and I
would like to take this opportunity to thank each and every one of them for
their hard work, dedication and loyalty.

 

"I am excited about the future prospects for CAML and feel that I am leaving
it in safe hands under the leadership of Gavin and Louise. I wish them every
success in their future roles and am delighted that the Board has asked me to
continue with CAML as a Non-Executive Director in order to support them and
the wider team."

 

Gavin Ferrar, CFO, commented:

"I am delighted and grateful to be entrusted with the role of CEO for CAML,
and to be given the opportunity to guide a first-rate team through the next
stage of the Company's development. We start this next phase with the Company
in excellent shape, with two low-cost operations, a growing portfolio of
exploration assets and a clean balance sheet. It is also a comfort that we
will continue to benefit from Nigel's skills and experience and the Board's
continued support."

 

For further information contact:

 Central Asia Metals                             Tel: +44 (0) 20 7898 9001
 Nigel Robinson
 CEO
 Gavin Ferrar
 CFO
 Louise Wrathall                                 louise.wrathall@centralasiametals.com
 Director of Corporate Development
 Richard Morgan                                  richard.morgan@centralasiametals.com
 Investor Relations Manager

 Peel Hunt (Nominated Advisor and Joint Broker)  Tel: +44 (0) 20 7418 8900
 Ross Allister
 David McKeown

 Emily Bhasin

 BMO Capital Markets (Joint Broker)              Tel: +44 (0) 20 7236 1010
 Thomas Rider
 Pascal Lussier Duquette

 BlytheRay (PR Advisors)                         Tel: +44 (0) 20 7138 3204
 Tim Blythe
 Megan Ray

Note to editors:

 

Central Asia Metals, an AIM-listed UK company based in London, owns 100% of
the Kounrad SX-EW copper project in central Kazakhstan and 100% of the Sasa
zinc-lead mine in North Macedonia. The Company also owns an 80% interest in
CAML Exploration, a subsidiary that was formed to progress early exploration
opportunities in Kazakhstan, and a 28.7% interest in Aberdeen Minerals Ltd, a
privately owned UK company focused on the exploration and development of base
metals opportunities in Northeast Scotland.

For further information, please visit www.centralasiametals.com
(http://www.centralasiametals.com/)  and follow CAML on Twitter at
@CamlMetals and on LinkedIn at Central Asia Metals Plc

 

 

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