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Released 07:00 28-November-2014

Number 2508Y

Stratex International Plc / Index: AIM / Epic: STI / Sector: Mining

 

Stratex International Plc  

(‘Stratex’ or ‘the Company’) 

Appointment of New Director

 

Stratex International Plc, the AIM-quoted exploration and development company, is pleased to announce that it has appointed Emma Priestley to its Board as an Executive Director with a particular focus on new business development.

Emma graduated from the Camborne School of Mines in 1995 in Mineral Surveying and Resource Management. Following several years with mining consultancies and contractors, she qualified as a chartered mining engineer and chartered mineral surveyor. In 2000, she moved into the financial sector, working as a mining analyst and later in corporate finance, with Credit Suisse First Boston, and Ambrian Capital plc. Emma was an executive director of London Stock Exchange main market-listed Lonrho Plc, focused on the development of business opportunities in infrastructure, natural resources and support services throughout Africa. Most recently she acted as chief executive officer to a subsidiary company conducting a successful major restructuring programme, bringing the company back into strength, a market participant again. Lonrho was successfully acquired in 2013.

Christopher Hall, Non-Executive Chairman, said: I am delighted that Emma has accepted our invitation to join the Stratex board. I have known her for many years and have seen her career develop.  She is now a seasoned mining executive with a wealth of commercial experience particularly in Africa.  This is probably where Stratex sees the most opportunity to develop its business in the current market so the combination of a technical background, excellent City connections and a track record of getting things done in Africa make her ideal to spearhead our new business development effort. I know I speak for the rest of the directors in welcoming her to the Company and looking forward to working with her as we edge nearer to the transformation of the Company into an explorer and prospect generator with a regular operating cash flow.


“Joining us will mean, however, that she will no longer be an independent director on the board of GoldStone.  Consequently she has stepped down from the GoldStone board, although her input to the management of our strategic investment in GoldStone will be maintained through her new position at Stratex.
"

Emma Kinder Priestly, aged 41, was appointed to 38 companies – mostly Lonrho plc subsidiary companies - from which she resigned following its successful takeover by private interests in 2013. For a full list of current and past directorships, see Table 1 below. 

There is no further information required to be disclosed in respect of the above appointment pursuant to Schedule 2 (g) of the AIM Rules for Companies.

 

Table 1. List of Directorships & Partnerships

Current

Past 5 years (resigned from these positions after leaving Lonrho)

GoldStone Resources Limited

Aldeamento Turistico de Macuti SARL

Santon Consultancy Services Limited

Blueberry International Services Limited

Stellar Resources plc

Celsys Limited

 

Complete Enterprise Solutions Limited

 

Complete Enterprise Solutions (Pty) Limited

 

Five Forty Africa (BVI) Limited

 

Five Forty Aviation Limited

 

ForgetMeNot Africa Limited

 

Gardoserve (Pvt) Limited (trading as Millpal Chamicals)

 

Hotel Cardoso SARL

 

Indit Technology Distribution (Pty) Limited

 

Lonrho Africa (Holdings) Limited

 

Lonrho Agribusiness (BVI) Limited

 

Lonrho Air Africa (BVI) Limited

 

Lonrho Air (BVI) Limited

 

Lonrho Air (2) BVI Limited

 

Lonrho Air (3) BVI limited

 

Lonrho Aviation (BVI) Limited

Lonrho Food Supply Chain Management Limited

 

Lonrho Holdings Limited

 

Lonrho Hotels Management Services BVI Limited

 

Lonrho Infrastructure (BVI) Limited

 

Lonrho Investments Limited

 

Lonrho Management Services Limited

 

Lonrho Oil (Malawi) Limited

 

Lonrho PLC/ Lonrho Limited

 

Lonrho Springs Limited

 

Lonzim Air (BVI) Limited

 

LonZim PLC

 

Luba Freeport Limited

 

Morningdale Properties (Pvt) Limited

 

Peak Mine (Pvt) Limited

 

Rex Mining (Pvt) Limited

 

Sociadade Commercial Bytes & Pieces Limiteda

 

Southern Africa Management Services Limited

 

Swissta Holdings Limited

 

Swissta Mozambique Lda

 

Wardlaw (1989) Limited

 

 

* * ENDS * *

 

For further information please visit www.stratexinternational.com, email [email protected], or contact:

 

Stratex International Plc

Tel: +44 (0)20 7830 9650

 

Christopher Hall / Bob Foster / Claire Bay

 

 

Grant Thornton UK LLP

Tel: +44 (0)20 7383 5100

 

Philip Secrett / Melanie Frean / Jen Clarke

 

 

 

Northland Capital Partners Limited

Tel: +44 (0)20 7382 1100

 

 

Gavin Burnell / Matthew Johnson / Alice Lane /John Howes

 

 

 

SP Angel Corporate Finance LLP

Tel: +44 (0)20 3463 2260

 

 

Ewan Leggat / Tercel Moore

 

 

 

Yellow Jersey PR Limited

Tel: +44 (0)20 3664 4087

 

Dominic Barretto / Philip Ranger / Anna Legge

 

 

 

Notes to Editors:

Stratex International is a well-funded AIM-quoted exploration and development company focussed on gold and high-value base metals in Turkey, East Africa and West Africa. Since listing on AIM in 2006, Stratex has had an impressive track record of successful exploration supported by joint-venture partnerships, both with major international mining companies and local companies to maximise the potential of its discoveries.

In December 2012 the Company announced the sale of its 30% interest in the Öksüt gold project for cash of 20 times its original US$1 million investment and retained a royalty of 1% up to a maximum additional value of US$20 million.

To date Stratex has discovered more than 2.2 million ounces of gold and 7.9 million ounces of silver, as well as 186,000 tonnes of copper. The Company has a robust cash balance and is therefore well-placed to advance its existing exploration programmes and is also actively seeking to acquire advanced projects that are at the drill-ready stage or even have identified resources, particularly in East Africa and West Africa.

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