Uranium Mining Corporation PLC
16 November 2005
URANIUM MINING CORPORATION PLC
('UMC' or 'the Company')
EXPANSION OF ACTIVITIES, PROPOSED CHANGE OF NAME,
NOTICE OF EGM AND
APPOINTMENT OF EXECUTIVE CHAIRMAN
Uranium Mining Corporation plc, which listed on AIM in August 2005 with existing
uranium exploration assets in Canada and a stated focus on acquiring assets in
Kazakhstan, today announces a number of key developments in the Company's
When the Company listed in August it announced it was actively seeking
potentially prospective uranium properties in Kazakhstan, which has significant
undeveloped and under-developed uranium resources, many of which offer the
possibility of quickly reaching the production stage through in-situ leaching.
Since then the Company has pursued a number of opportunities but due to a
variety of issues the Board has determined that it will take longer than
initially expected to acquire assets of the quality it is seeking.
Therefore the Company's Board, which has extensive natural resources experience
across all sectors, made the decision to expand its activities in the energy
sector as a whole. UMC have been introduced to a number of energy-related
projects in Kazakhstan, including oil and gas opportunities, and are close to
taking an option to acquire one project.
Proposed Change of Name
To reflect the expansion in activities in the energy sector, the Company
proposes to change its name, subject to shareholder approval, from Uranium
Mining Corporation plc to UMC Energy plc. The Company's stock exchange symbol
will remain as 'UOX'.
The Board continues to believe in its stated strategy upon listing, that the
demand for uranium will continue to rise over the coming years, and so the
Company's search for uranium assets will continue. The Company continues to
support the programme which will enable it to retain a 75% interest in three
potential uranium bearing blocks in the Central Labrador Trough of north-eastern
Canada, consisting of 150 claims across 7,100 acres. Its Joint Venture partner
in the Blocks, Waseco Resources Inc., is expected to announce the results of the
C$250,000 geophysical summer programme shortly.
A short circular and notice of an EGM of the Company to be held at 11 Albermarle
Street on Wednesday 14 December 2005 is to be sent to shareholders this week.
The notice contains a special resolution to approve the name change and an
ordinary resolution to expand the Company's activities.
Appointment of Executive Chairman
Whilst the Board has huge breadth and depth in its natural resources experience
it is delighted to announce the appointment of Rob Schoonbrood as Executive
Chairman, to drive the Company forward following its decision to expand its
activities in the energy sector. Chris Kyriakou will step down as Chairman but
will remain on the Board as a Non-Executive Director.
Rob Schoonbrood, 60, has nearly 40 years energy sector experience, primarily in
oil and gas exploration and production, having spent the first 30 years of his
career with the Royal Dutch Shell Group. He has held a variety of positions
including Business Development Manager of Oil Products, East for Shell
International Petroleum Company in London and Chief Executive of Shell Markets
Middle East/ Shell Trading Middle East in Dubai.
Mr Schoonbrood left the Royal Dutch Shell Group in 1998 and since then has acted
as an independent business consultant, advising on a number of deals and for a
variety of companies in Kazakhstan. This includes initiating and implementing a
Crude Oil swap agreement between Kazakhstan and Iran on behalf of CJSC Munai
Impex and acting as a Senior Advisor to the management of PetroKazakhstan, with
an emphasis on business with Iran, Kazakhstan and China.
He also acted as President of Unioil AG, an independent oil transport and
trading company focusing on niche business around the Caspian, from 2002-2003
and was Operations Director of Cobalt Energy Group, a US based wholesale
company, from 2004-2005.
Appointment of Broker
UMC also today announces the appointment of ODL Securities Limited as the
Chris Kyriakou, Non-Executive Director, commented:
'I am delighted to announce that Rob Schoonbrood has agreed to join us as
Executive Chairman. He has huge amounts of sector and Kazakh experience and is
the ideal person to drive the Company forward at this point in its evolution.'
Rob Schoonbrood, Executive Chairman, commented:
'It is clear that UMC will continue to pursue its stated aim in the uranium
mining industry, particularly with people on the Board of such calibre and
experience in the sector, but I am very pleased to be able to add another aspect
to the Board's portfolio of experience as it moves forward in its expanded areas
of activity in the energy sector.'
16 November 2005
Uranium Mining Rob Schoonbrood +44 (0)20 7514 1480
Corporation Executive Chairman
Chris Kyriakou +44 (0) 20 7514 1482
Pelham Public Charles Vivian Charles.firstname.lastname@example.org +44 (0)20 7743 6672
Alisdair Haythornthwaite Alisdair.email@example.com +44 (0) 207 743 6676
Note to Editors
Jean Joseph Louis Robert Schoonbrood
2004 -2005 Independent Business Consultant
Senior Advisor to the management of PetroKazakhstan, with emphasis on business
with Iran, Kazakhstan and China. Operations Director of Cobalt Energy Group (US
2002 -2003 President UniOil AG
Independent oil transport and trading company, focussing on niche business
around the Caspian, with emphasis on Kazakhstan and Iran.
1999 -2002 Independent Business Development Consultant
Projects in Central Asia, Japan and Singapore. Initiated and implemented Crude
Oil swap agreement between Kazakhstan and Iran on behalf of CJSC Munai Impex.
1968 -1998 Royal Dutch Shell Group
• 1996 - 1998 Business Development Manager, Oil Products, East - Shell
International Petroleum Company, London
• 1991 - 1995 Chief Executive - Shell Markets Middle East/ Shell
Trading Middle East, Dubai
• 1987 - 1991 Crude Oil Trading Manager - Government Accounts - Shell
International Trading Company, London, with responsibility for West Africa
(Nigeria), Iran, Mexico and South America, London
• 1984 - 1987 General Manager - Shell Company of Gibraltar Ltd
• 1981 - 1984 General Manager - Shell Nederlandse Antillen Verkoop
Maatschappij Dutch Antilles
• 1979 - 1981 Logistics, economics and information planning manager
Shell Nederland Verkoop Maatschappij, Rotterdam
• 1977 - 1979 Area Manager for Distribution in Shell Francaise
• 1975 - 1977 Development Project Manager - Shell International
Petroleum Company, London
• 1968 - 1975 Research Scientist - Koninklijke Shell Laboratory
Amsterdam, Project manager Management Information Systems.
Rob Schoonbrood has been, in the past 5 years, a director of the following
Current Directorships Previous Directorships
Web Choice Internet Services
Middle East and South Asia Petroleum Corporation
MP Management and Consultancy Inc. Services
Supersport Performance Inc.
There are no other matters to be disclosed in relation to Schedule 2 paragraph
(f) of the AIM Rules.
This information is provided by RNS
The company news service from the London Stock Exchange