Business
Appointment of New Chair
Appointment of New Chair.
About this update from Sylvania Platinum Ltd.
[{"type":"text","content":"\n\n\n \n \n \n \n _____________________________________________________________________________________________________________________________\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse regulation (EU) no.596/2014 as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019.\n \n9 November 2023\n \nSylvania Platinum Limited\n (\"Sylvania\", the \"Company\" or the \"Group\")\n \nAppointment of New Chair\n \nSylvania (AIM: SLP) the platinum group metals (\"PGM\") producer and developer with assets in South Africa, today announces that Stuart Murray will step down as Chairman of Sylvania with effect from 31 December 2023. After a decade of service as Non-Executive Chairman, Stuart has decided to step down from his position to focus more time on his other business interests.\n \nDuring Stuart's tenure as Chairman, the Company has achieved several significant milestones, the most important being Project Echo which has delivered a doubling of production and extended the operational life of the PGM operations by many years. In addition, the balance sheet has not only been significantly strengthened but the share register has been tightened with a reduction of shares and options in issue from 310 million in 2013 to the current level of 263 million. This was delivered through several share buybacks and a concerted effort to tidy the register following the ASX de-listing. A further highlight has been the payment of total dividends of 28 pence per share since the maiden dividend declared in 2018. The establishment of the recently announced joint venture (\"JV\") between Sylvania Metals (Pty) Limited and Limberg Mining Company Limited, known as the Thaba JV, caps this tenure.\n \nThe Board has voted unanimously to appoint Eileen Carr, currently Non-Executive Director and Chair of the Audit Committee, as the Chair of the Board when Stuart steps down. Eileen brings a wealth of experience to her new role, with over 35 years of professional expertise within the global resources sector. She has a track record of l...