Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

 Information  X 
Enter a valid email address

Petropavlovsk Plc (POG)

  Print      Mail a friend       Annual reports

Tuesday 20 December, 2011

Petropavlovsk Plc

Board Changes

RNS Number : 2892U
Petropavlovsk PLC
20 December 2011
 

20th December 2011

 

Dr. Pavel Maslovskiy Becomes a Senator

 

Petropavlovsk PLC is proud to announce that its Chief Executive Officer, Dr. Pavel Maslovskiy, having been elected a member of the Amur Region Duma (the regional parliament of the Amur Region) on 4th December 2011, has in turn been nominated by this body to be a Senator and Member of the Federation Council of Russia (Upper House of the Russian Parliament). The Petropavlovsk Board of Directors, the managers and the employees are delighted to congratulate Senator Maslovskiy on his appointments which recognise the important role both he and the Company he created have played in the development of the Amur Region's economy over the past 18 years.

 

As a consequence of this appointment, Senator Maslovskiy has advised the Board that in order to take up his parliamentary responsibilities he will have to relinquish, for so long as he holds this office, his Petropavlovsk directorship and resign from his longstanding role as Chief Executive Officer. Under Russian law, Senators are prohibited from holding a business office that is remunerated or which has a management as opposed to an advisory role and there are restrictions on the ownership of business assets where conflicts of interest occur. Senator Maslovskiy will similarly retire from the board of IRC Ltd, a publicly quoted Hong Kong subsidiary company, which is developing the Group's iron ore business. 

 

Accordingly, in order to retain the benefit of Senator Maslovskiy's knowledge and experience, the Board has conferred on him the title of Honorary President. In this capacity, which will not be remunerated, Senator Maslovskiy will be able to advise the new CEO and also attend but not vote at meetings of the Board.

 

Management Changes

Consequent upon Senator Maslovskiy's transition to the role of Honorary President, the following changes to the Management and Board of Petropavlovsk PLC will be made.

 

New Chief Executive

Mr. Sergey Ermolenko, aged 58, a shareholder and General Director of Management Company Petropavlovsk (the Group's main operating company in Russia) since its inception, becomes Chief Executive Officer and a member of the Board and the Executive Committee with immediate effect. Mr. Ermolenko was, with Senator Maslovskiy, Dr. Nikolai Vlasov, Mr. Valery Alekseev and Mr. Peter Hambro, one of the original five members of the Group's founding management team and has been Dr. Maslovskiy's most important operational deputy.

 

Mr. Ermolenko has held top managerial positions with the Group since its inception in 1994. In his previous capacity as Director of Pokrovskiy Rudnik, he was responsible for bringing the Pokrovskiy mine into production. He was appointed General Director of Management Company Petropavlovsk in 2004, and in this capacity has led the expansion of the Group into a multi-mine operator.

 

Mr. Ermolenko began his mining career in 1974 as an underground miner and shift boss in the Tokur mine, Amur region, working his way up to Head of Operations for the Tokur Mine. Sergey Ermolenko's role is predominantly Moscow and Blagoveshensk based and, as a limited English speaker, he will rely on his senior team and particularly Deputy CEO, Martin Smith to help with communications with investors.

 

New Deputy Chief Executive and Technical Director

Mr. Martin Smith, aged 56, presently the Group's Technical Director, has been associated with the Group for more than 16 years and has been appointed Deputy Chief Executive. Mr. Smith, stationed at the Group's Far East head office in Blagoveshensk, will become Deputy CEO to Sergey Ermolenko. He has been with the Group since 1994, when he joined the management team on secondment from Kier International. In 2006, he joined Aricom PLC as a Technical Director and, following Aricom's merger with the Group in 2009, Mr. Smith became Group Head of Technical Services and was appointed Technical Director in January 2011. Mr. Smith has over 30 years' experience in the global natural resources industry, commencing his career as a mining engineer at Anglo American Corporation, South Africa and later leading projects for Kier International, Costain Mining and Shell International.

 

Commenting on the announcement, the Chairman, Mr. Peter Hambro, said:

"It is a great honour for the Company that Pavel's achievements have been publicly recognised and we are all delighted for him personally. As his business partner of many years, I offer him my heartfelt congratulations on something that is richly deserved.

 

I am naturally sad that his new parliamentary role prevents him from continuing his executive tasks but we have an understanding that he will be available to me and to all the team in an advisory capacity as Honorary President. Should circumstances change in the future I hope that Pavel will consider a resumption of his executive duties with the Group. 

 

In Sergey Ermolenko, who was one of the very earliest of Petropavlovsk's executives and my friend since 1994, we have a very capable new CEO who knows the business inside out and who is already fully up to speed with the Company's strategy and operations. 

 

Since he was one of my earliest advisers, I am delighted that Martin Smith, who helped me with the technical issues that arose as we started to grow the Company, will be Sergey Ermolenko's Deputy CEO. I am sure that his knowledge of the Group's operations, which is derived from his position as Technical Director stationed in Russia's Far East, and his experience of extractive industries in other parts of the world will assist our shareholders in the understanding of the Group's operations.

 

The Group will issue its Interim Management Statement, covering, inter alia, its production for the 2011 and indications of its forecast for 2012, on 27th January 2012 as planned."

 

Senator Maslovskiy commented:

"As a founder of the business and its long-time CEO I will, of course, miss the day-to-day management of its operations. However, I have every confidence in Sergey Ermolenko, who has been my right hand through all these years and in Martin Smith who will be his Deputy. Though not an executive I will, of course, remain available to them to share my experience. It is my intention to retain a substantial interest in the Company through the discretionary trusts of which I am a potential beneficiary and which will continue to own Petropavlovsk shares."

 

Enquiries

 

Petropavlovsk PLC

  Alya Samokhvalova 

  Rachel Tuft

 

 

 +44 (0) 20 7201 8900 

 

 

Merlin

  David Simonson

  Ian Middleton

 

 +44 (0) 20 7726 8400

 

Important information

Past performance cannot be relied on as a guide to future performance.

 

Forward-looking statements

This release may include statements that are, or may be deemed to be, "forward-looking statements". Generally, these forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this release and include, but are not limited to, statements regarding the Group's intentions, beliefs or current expectations concerning, among other things, the Group's results of operations, financial position, liquidity, prospects, growth, strategies and expectations of the industry.  

 

By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. Forward-looking statements are not guarantees of future performance and the development of the markets and the industry in which the Group operates may differ materially from those described in, or suggested by, any forward-looking statements contained in this release. In addition, even if the development of the markets and the industry in which the Group operates are consistent with the forward-looking statements contained in this release, those developments may not be indicative of developments in subsequent periods. A number of factors could cause developments to differ materially from those expressed or implied by the forward-looking statements including, without limitation, general economic and business conditions, industry trends, competition, commodity prices, changes in law or regulation, currency fluctuations (including the US dollar and Rouble), the Group's ability to recover its reserves or develop new reserves, changes in its business strategy, political and economic uncertainty. Save as required by the Listing and Disclosure and Transparency Rules, the Company is under no obligation to update the information contained in this release.

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
BOATMBBTMBTTMMB