Asia Energy PLC
19 January 2006
Asia Energy Plc ('Asia Energy' or the 'Company')
Appointment of Steve Bywater as New Chief Executive
Asia Energy is pleased to announce the appointment of Mr Steve Bywater as the
Company's new director and Chief Executive with effect from today.
Mr Bywater, aged 54, joins the Company following a distinguished career in the
resources industry where he was most recently the Chief Operating Officer for
Rio Tinto Coal Australia. In this position Mr Bywater covered 7 mining
operations, producing sixty (60) million tonnes of saleable coal a year.
Prior positions held by Mr Bywater include General Manager Operations for Robe
River Mining, a subsidiary of North which subsequently became a subsidiary of
Rio Tinto in 2000. He also held the position of General Manager - Mine
Operations for Hamersley Iron Limited and General Manager at Mount Isa Mines in
both Mining and Metallurgical Operations. The position at Robe River Mining
included management of both the port and rail facilities.
Mr Chris Eager, Asia Energy's Chairman said, 'I am pleased to have a person with
Steve Bywater's outstanding credentials joining the team to lead the project
into production. Steve has a proven track record in developing and operating
large scale mining operations like Phulbari'.
As a result of the appointment of Mr Bywater to the senior management role of
the Company, Mr David Lenigas and Mr Michael Frayne have stepped down as Joint
Managing Directors with immediate effect. Mr Lenigas will assist with the
handover and remain a non-executive director of the Company. Mr Frayne will be
resigning from the board by the end of January 2006.
Mr Bywater will be granted one million options in the Company at an exercise
price of £3.70 (which was the closing mid market price on 18 January 2006) with
a term of 5 years from the date of this announcement.
For further information please contact:
Asia Energy Plc:
Michael Frayne or David Lenigas.
Tel: +44 (0) 20 7079 1798, Fax: +44 (0) 20 7491 2758
Gary Lye, Chief Executive (Bangladesh): +88 0173016704
Website: www.asia-energy.com
Parkgreen Communications:
Justine Howarth, Cathy Malins
Tel: +44 (0) 20 7493 3713
Additional information as required by Rule 17 and Schedule Two of the AIM Rules
is as follows:
Mr Bywater was a director of Blair Athol Coal Pty Ltd, Warkworth Coal Sales Ltd,
Warkworth Mining Ltd, Warkworth Pastoral Co Pty Ltd, Warkworth Tailings,
Treatment Pty Ltd and Mount Thorley Operations Pty Limited and resigned from the
boards of all these companies with effect from today.
He was also an alternate director on the boards of Bengalla Agricultural Company
Pty Ltd, Bengalla Coal Sales Company Pty Ltd and Bengalla Mining Company Pty Ltd
and also resigned from the boards with effect from today.
This information is provided by RNS
The company news service from the London Stock Exchange