Business
Management Changes
Management Changes.
About this update from Gcm Resources Plc
[{"type":"text","content":"\n Asia Energy PLC\n19 January 2006\n\n\n Asia Energy Plc ('Asia Energy' or the 'Company')\n\n Appointment of Steve Bywater as New Chief Executive\n\n\nAsia Energy is pleased to announce the appointment of Mr Steve Bywater as the\nCompany's new director and Chief Executive with effect from today.\n\nMr Bywater, aged 54, joins the Company following a distinguished career in the\nresources industry where he was most recently the Chief Operating Officer for\nRio Tinto Coal Australia. In this position Mr Bywater covered 7 mining\noperations, producing sixty (60) million tonnes of saleable coal a year.\n\nPrior positions held by Mr Bywater include General Manager Operations for Robe\nRiver Mining, a subsidiary of North which subsequently became a subsidiary of\nRio Tinto in 2000. He also held the position of General Manager - Mine\nOperations for Hamersley Iron Limited and General Manager at Mount Isa Mines in\nboth Mining and Metallurgical Operations. The position at Robe River Mining\nincluded management of both the port and rail facilities.\n\nMr Chris Eager, Asia Energy's Chairman said, 'I am pleased to have a person with\nSteve Bywater's outstanding credentials joining the team to lead the project\ninto production. Steve has a proven track record in developing and operating\nlarge scale mining operations like Phulbari'.\n\nAs a result of the appointment of Mr Bywater to the senior management role of\nthe Company, Mr David Lenigas and Mr Michael Frayne have stepped down as Joint\nManaging Directors with immediate effect. Mr Lenigas will assist with the\nhandover and remain a non-executive director of the Company. Mr Frayne will be\nresigning from the board by the end of January 2006.\n\nMr Bywater will be granted one million options in the Company at an exercise\nprice of £3.70 (which was the closing mid market price on 18 January 2006) with\na term of 5 years from the date of this announcement.\n\n\n\nFor further information please contact:\n\nAsia Energy Plc:\nMichael Frayne or David Lenigas.\nTel: +44 (0) 20 7079 1798, Fax: +44 (0) 20 7491 2758\n\nGary Lye, Chief Executive (Bangladesh): +88 0173016704\nWebsite: www.asia-energy.com\n\nParkgreen Communications:\nJustine Howarth, Cathy Malins\nTel: +44 (0) 20 7493 3713\n\n\n\nAdditional information as required by Rule 17 and Schedule Two of the AIM Rules\nis as follows:\n\nMr By...