Centamin Egypt Ltd
Gold Project: 9.39 Moz Measured and Indicated, Plus 3.5 Moz Inferred
Message: Sami El-Raghy will today be standing down as the Chairman
| December 31, 2009 |
| Centamin Egypt: Changes to the Board of Directors |
| TORONTO, ONTARIO--(Marketwire - Dec. 31, 2009) - Centamin Egypt Limited ("Centamin" or "the Company") (TSX:CEE)(LSE:CEY)(ASX:CNT) announced on 27 November 2009 at the Annual General Meeting, Sami El-Raghy will today be standing down as the Chairman of Centamin and as a member of the Board to pursue new personal endeavours and challenges. Sami El-Raghy has been a director of the Company since 29 April 1993 and led the Company into Egypt after having recognised its prospectivity for gold and the potential for large-scale mining. During his time on the Board, Sami has overseen a successful transformation of the Company from a mining exploration company into a mid tier gold producer. The Board would like to take this opportunity to extend their gratitude to Sami El-Raghy for all of his time, work and sacrifices to get the Company to where it is today. Sami El-Raghy remains a substantial shareholder and supporter of the Company and will continue to be available to advise the Board and management when required. Furthermore, the Company wishes to advise that Mr Gordon Brian Speechly has today decided to step down from the Board due to other work commitments. Mr Speechly has been a director of the Company since 15 August 2000. The Board would like to take this opportunity to thank Mr Speechly for his contribution over the past nine years and wish him well in his future endeavours. In light of the changes mentioned above and the recent admission to the Official List of the London Stock Exchange, the directors of Centamin are committed to ensuring the highest standards of corporate governance and ensuring that the Company has the appropriate Board structure. As such, Centamin is in discussions with various candidates with regard to the composition of the Board, including the possibility of appointing additional independent non-executive directors. For Centamin Egypt Limited Josef El-Raghy, Managing Director/CEO |
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