News
RNS Announcements
Director appointments
30 May 2005
Uranium Resources plc, the AIM listed uranium exploration company, has today appointed Dr Leon Eugene Pretorius and Hugh David Warner as Directors.
Dr Pretorius BSc (Hons), MSc, PhD, FAusIMM (CP), MAIG, PrSciNat, is a uranium geochemist with 34 years experience in uranium exploration and mining operations, predominantly in Australia and Africa. Most recently he was a specialist uranium consultant and an Executive Director of Paladin Resources Ltd ('Paladin'). He remains an Executive Director of Langer Heinrich Uranium (Pty) Ltd, Paladin's subsidiary in Namibia, which is currently developing the first uranium mine outside of Canada in 20 years. He was also consultant geochemist and Chief Executive to Savannah Mining NL and Scorpio Mining NL of Australia and has worked as uranium exploration geologist for Rand Mines, Newmont (Canada) and Rio Tinto.
Dr Pretorius is the author of numerous research studies/publications and speaker at a number of International Scientific Conferences. He is also a Member or Fellow of professional organisations including the South African Council of Natural Scientists, the Association of Exploration Geochemists, the American Geophysical Union, Australian Institute of Geoscientists and Australian Institute of Mining and Metallurgy.
The Company has granted to Dr Pretorius an option to subscribe for up to 10,000,000 ordinary shares of 0.1 pence each in the Company ('Shares') at 2.5 pence per Share, exercisable in three tranches at various times between 30 June 2005 and 31 December 2008.
Hugh Warner BEc, is a company director and contributes specialist corporate finance expertise. He has held a number of directorship positions in both private and publicly listed companies in Australia, UK and Canada, principally in the oil and gas, gold, nickel, uranium and technology sectors. He is also an Executive Director and equal beneficial shareholder of Ascent Capital Pty Ltd ('Ascent Capital'), an Australian principal investor, which has listed by IPO or re-capitalisation 17 companies on the Australian Stock Exchange ('ASX') and six companies on AIM. Current directorships include Green Rock Energy Ltd, Metabolism Health Limited and Deep Yellow Ltd listed on the ASX, and Ascent Resources Plc and Tower Resources Plc listed on AIM.
Hugh Warner's shareholding in the Company includes 9,280,000 Shares held by his family trust and 8,000,000 Shares held by Ascent Capital.
Uranium Resources Chairman David Steinepreis said: 'We are delighted that both Leon and Hugh have joined our team. There are few professionals in the world of uranium that have Leon's knowledge, expertise and proven track record. He has worked with a string of blue chip companies and as a result the respect he has gained from his years in the industry spreads far and wide.'
'The Board also believes that Hugh will provide valuable assistance to the Company going forward, particularly in view of his extensive knowledge in the financial, investment and mining industries.'
'The uranium market is strengthening in line with the growth in energy requirements in both the developed and developing worlds. Our strategy is to take advantage of this opportunity by acquiring known uranium deposits with a specific focus on Southern Africa and Australia. With Leon and Hugh now on the board, I am certain that we can build and manage a strong portfolio of uranium assets to provide shareholder value.'
Dr Pretorius, aged 54, is or has been a director of the following companies during the previous five years.
| Current directorships | Past directorships |
| ASX Listed | ASX Listed |
| Deep Yellow Ltd | Paladin Resources Ltd |
| Unlisted | Unlisted |
| Langer Heinrich Uranium (Pty) Ltd | Paladin Energy Minerals NL |
| Inca Mining (Pty) Ltd | Savannah Mining NL |
| Opaline Gold (Pty) Ltd | Smith & Stephens Consulting and Project Management Services Pty Ltd |
Hugh Warner, aged 36, is or has been a director of the following companies during the previous five years.
| Current directorships | Past directorships |
| AIM Listed | AIM Listed |
| Ascent Resources plc | Black Rock Oil & Gas plc |
| Tower Resources plc | |
| ASX Listed | ASX Listed |
| Green Rock Energy Limited | Black Range Minerals Ltd |
| Metabolism Health Limited | OBJ Limited |
| Deep Yellow Ltd | Salus Technologies Ltd |
| Synergy Metals Ltd | |
| Unlisted | View Resources Ltd |
| Ascent Capital Pty Ltd | Copperco Ltd |
| Resonance Health Ltd | |
| Extract Resources Ltd | |
| Medivac Limited | |
| IM Medical Limited | |
| Service Stream Limited | |
| Fusia Limited | |
| Aeris Technologies Ltd | |
| Black Rock Petroleum NL | |
| Peak Hill Gold Mines NL | |
| Peninsula Minerals Limited | |
| Data Centre Holdings Pty Ltd | |
| My Accountants Online Pty Ltd | |
| Rakov Pty Ltd | |
| Toronto Stock Exchange Listed | |
| Minres Resources Inc |
Ascent Capital was co-formed by Hugh Warner to pursue, amongst other things, the reconstruction and recapitalisation of existing stock exchange quoted companies. Since its foundation, Ascent Capital has successfully recapitalised and relisted 15 companies on the ASX. Each of the 15 companies recapitalised by Ascent Capital were placed under external administration either prior to Ascent Capital recapitalising the company or as part of Ascent Capital's recapitalisation of the company. As a consequence, Hugh Warner has been appointed a director of companies in administration or has placed a company into administration. These companies, all of which have been successfully released from administration, are listed below.
- Fusia Limited
- Service Stream Limited
- Black Range Minerals Limited
- M Health Limited
- OBJ Limited
- Q-Vis Limited
- Extract Resources Limited
- Medivac Limited
- Copperco Limited
- Resonance Health Ltd
- Synergy Metals Ltd
- View Resources Ltd
- IM Medical Ltd
- Deep Yellow Ltd
Hugh Warner was also appointed as a director of Sturt Australia Resources NL to wind up that company, by way of a members' voluntary liquidation.
There are no other matters, which are required to be announced with regard to this appointment under paragraph (f) of Schedule 2 of the AIM Rules.