European Goldfields Limited – Martyn Konig appointed as non-executive director
Mr. Konig, aged 51, has 27 years experience in investment banking and the commodity markets. Mr. Konig has been Chief Executive Officer of Blackfish Capital Management Limited since 2005. He is also a director of AIM listed Latitude Resources, a resource focused investment group as well as being a non-executive director of TSX listed Western Goldfields Inc. He has extensive experience in the natural resource sector, which includes senior management responsibility in resource finance and commodity trading operations at various international investment banks. Mr. Konig was a main Board Director of NM Rothschild and Sons Ltd. for 15 years and held senior positions at Goldman Sachs and UBS. Mr. Konig is a Barrister and Fellow of the Chartered Institute of Bankers.
Mr. Konig’s appointment follows the resignation effective
Mr. Konig is currently a director of the following companies:
Blackfish Capital Management Limited
Blackfish Capital Holdings Ltd
Latitude Resources Plc
Western Goldfields Inc
Chambers Runfold Plc
Chambers Waste Management Plc
Mr. Konig has also been a director of the following companies within the
last 5 years:
EBT Mobile China Plc
The Trading Exchange (UK) Ltd
Resourceworks Trading Limited
The Company also announced the adoption of a new compensation program for its independent non-executive directors utilizing deferred phantom units (“DPUs”) to be issued under a new DPU plan which was adopted on
Under the new non-executive director compensation program, non-executive directors will no longer receive options or restricted shares. Therefore, Messrs.
Shareholders Rights Plan
The Company today announced that its Board of Directors has implemented a Shareholders Rights Plan Agreement on
In the event of a future takeover bid for the Company’s outstanding common shares, the Rights Plan provides a mechanism to ensure that shareholders have adequate time to properly evaluate and assess the bid without facing undue pressure or coercion. The Rights Plan also provides the Board with additional time to consider any take-over bid and, if applicable, to explore alternative transactions in order to maximize shareholder value.
The TSX has accepted notice of the Rights Plan, subject to, among other conditions, confirmation of the Rights Plan by European Goldfields’ shareholders within six months of the Rights Plan’s implementation. The board of directors is not currently aware of any pending or proposed take-over bid for European Goldfields.
A copy of the Rights Plan will be filed and available for review at www.sedar.com.
About European Goldfields
European Goldfields Limited is a resource company involved in the acquisition, exploration and development of mineral properties in
Certain statements and information contained in this document, including any information as to the Company’s future financial or operating performance and other statements that express management’s expectations or estimates of future performance, constitute forward-looking information under provisions of Canadian provincial securities laws. When used in this document, the words “anticipate”, “expect”, “will”, “intend”, “estimate”, “forecast”, “planned” and similar expressions are intended to identify forward-looking statements or information. Forward-looking statements include, but are not limited to, the estimation of mineral reserves and resources, the timing and amount of estimated future production, costs and timing of development of new deposits, permitting time lines and expectations regarding metal recovery rates. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The Company cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of the Company to be materially different from its estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. These risks, uncertainties and other factors include, but are not limited to: changes in the price of gold, base metals or certain other commodities (such as fuel and electricity) and currencies; uncertainty of mineral reserves, resources, grades and recovery estimates; uncertainty of future production, capital expenditures and other costs; currency fluctuations; financing and additional capital requirements; the successful and timely permitting of the Company’s Skouries, Olympias and Certej projects; legislative, political, social or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with mining or development activities; the speculative nature of gold and base metals exploration and development, including the risks of diminishing quantities or grades of reserves; the risks normally involved in the exploration, development and mining business; and risks associated with internal control over financial reporting. For a more detailed discussion of such risks and material factors or assumptions underlying these forward-looking statements, see the Company’s Annual Information Form for the year ended
SOURCE EUROPEAN GOLDFIELDS LTD.