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Gold One to streamline its board

Dec 31 2012 08:15 I-Net Bridge

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Johannesburg - Junior gold miner Gold One International [JSE:GDO] announced on Monday that it was to streamline its board of directors to seven from the previous 11 directors.

This announcement came after the previous agreement between Gold One and its 89.087% shareholder‚ BCX Gold Investment Holdings‚ which stated that the board should consist of 11 members ended on 29 December 2012.

"Gold One is entering a new phase of its strategy prior to an anticipated Hong Kong listing. BCX and the board have expressed their sincere gratitude to the outgoing directors for their contributions to the company‚ their industry expertise‚ their experience‚ and their guidance to management over the years during which they have served as directors‚" said acting CEO‚ Christopher Chadwick.

The reconstituted board will comprise two non-executive directors nominated by BCX‚ four independent non-executive directors‚ and one executive director.

“Messrs Yalei Sun and Chao Zhou will remain on the board in their capacity as non-executive directors as nominees of BCX. Yalei Sun will continue to act as chairperson of the board. Messrs Robert Chan‚ Allan Liu and Michael Solomon will remain on the Board as independent non-executive directors‚” the miner said in a note on Monday.

Gold One added that a fourth independent non-executive director will be appointed shortly.

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gold one international  |  mining


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