IMPALA PLATINUM HOLDINGS LIMITED
Registration number: 1957/001979/06
Isin: ZAE000003554
Share code: IMP
IMPLATS CHAIRMAN TENDERS RESIGNATION
Following the announcement by Gencor yesterday (30 May 2002) of Michael
McMahon`s intention to resign from the board of Gencor on 25 June 2002,
Impala Platinum Holdings Limited (Implats) advises that Mr McMahon,
currently Implats` non-executive Chairman, has consequently also tendered
his resignation as a director (and as Chairman) of the Implats board.
Gencor is Implats` major shareholder and Mr McMahon is Gencor`s nominated
representative on the Implats board.
Although Vivienne Mennell, another Implats non-executive director will also
retire from the Gencor board with effect from 25 June, her position as an
independent non-executive director on the Implats board remains unchanged as
she is not a Gencor nominee.
The Implats board will consider the appointment of a Chairman at a meeting
of the board on 5 June 2002. Mr McMahon`s continuing role on the board in an
independent capacity will also be considered at this meeting.
Implats CEO Keith Rumble acknowledged the role played by Mr McMahon over the
years - first as CEO of Implats and subsequently as non-executive chairman
of the board.
"Both Michael McMahon and Vivienne Mennell are long-standing and valuable
members of the Implats board. Michael has considerable experience both in
the industry and of Implats which has proved invaluable as the company has
grown in stature over the years. He played a vital role as the architect of
the transformation of the company from a high-cost, single orebody producer
to an independent, low-cost and growth-orientated company."
Ends
31 May 2002
For further information see the Implats website:
www.implats.co.za
Queries :
Cathie Markus
+ 27 11 481 3943
+ 27 82 441 7166
Date: 31/05/2002 11:07:00 AM Produced by the SENS Department
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