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Tembusu Investments (NOVA)

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Monday 21 November, 2011

Tembusu Investments

Appointment of Director to subsidiary

RNS Number : 4168S
Tembusu Investments Limited
21 November 2011

21 November 2011


Tembusu Investments Limited

("Tembusu" or the "Company")


Appointment of Mr Demberel Manga to the Board of Directors of Nova Mongolia Corp Pte Ltd


The Company is pleased to announce that its subsidiary, Nova Mongolia Corp Pte Ltd ("Nova Mongolia"), has appointed Mr Demberel Manga as a director to its Board of Directors.


Mr Manga, a Mongolian national, aged 53, graduated with a degree in Technical Science from the Machinery Construction University, Kirovograd city, the Republic of Ukraine. Mr. Manga is a qualified mechanical and technical engineer.  He has worked for many years in Mongolia in engineering and other fields. He started his professional career as an officer at the Materials and Technical Supply Authority in Mongolia and was eventually promoted to Director of Human Resources of Erdenet JV Mining Company. Erdenet JV Mining Company is the largest copper-molybdenum mining company in Mongolia. Mr Manga currently works as the Deputy Director for Operations at the "Chinggis Khaan" International Airport in Ulaanbaatar, Mongolia.


Given Mr Manga's wide contacts in human resources, engineering and the natural resources sector in Mongolia, the Board of the Company believes that Mr Manga will be a valuable addition to the business of Nova Mongolia.  At this time, Mr Manga will specifically assist Nova Mongolia to look for opportunities to set up a business providing logistics (including transportation) services to mines in Mongolia.


The Company is also pleased to announce that Mr Manga and Ms Sarangerel Dorligjav (a Mongolian national) has agreed to subscribe for new shares in the capital of Nova Mongolia; when these new shares are issued, Mr Manga and Ms Dorligjav will, in aggregate, own 30% of the entire issued capital of Nova Mongolia; the Company will own the balance 70%.  The Company believes that both Mr Manga and Ms Dorligjav will contribute substantially to Nova Mongolia.



For enquiries:

Tembusu Investments Limited

Tel:  +65 9630 7808

Chan Fook Meng, Chairman and Chief Executive Officer

Allenby Capital Limited (Nominated Adviser and Broker)

Tel:  +44 (0)20 3328 5656

Brian Stockbridge

Dan Robinson

James Reeve



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

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