Inova Resources Limited Board Rationalisation
07.08.2013 | Marketwire
THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA TO UNITED STATES NEWSWIRE SERVICESMELBOURNE, AUSTRALIA -- (Marketwired - Aug. 6, 2013) - Inova Resources Limited (TSX:IVA) (ASX:IVA) confirms the rationalisation of its Board structure with the formal resignation of two of its non-executive Directors, Ian Plimer and Neville Henwood.
As announced at the Company's Annual General Meeting in May, the Board decided to rationalise and reduce the number of Directors from 8 to 6 to reflect the current situation and the needs of the Company. The Company has now received formal notification of Professor Plimer's and Mr Henwood's resignations, effective 7 August, 2013.
Professor Plimer and Mr Henwood were appointed directors of Inova Resources (then Ivanhoe Australia) in 2007 and 2012, respectively. Professor Plimer was an independent, non-executive director and Mr Henwood a non-executive director nominee of Turquoise Hill Resources, Inova Resources' majority shareholder.
Peter McMahon, Ivanhoe Australia Chairman, said, "I and the rest of the Board would like to sincerely thank both Ian and Neville for their contribution to Inova Resources. Ian in particular, who has been a Director since before the listing of the Company on the ASX, has overseen the growth of the Company for the past five years and the more recent transformation of Inova Resources from an exploration company to a fully-fledged base metals producer."
The Board of Inova Resources now comprises: Peter McMahon (Chair); Bob Vassie (CEO); Jim Askew and Kyle Wightman (Independent Non-Executive Directors); and Stephen McIntosh and Stewart Beckman (Non-Executive Directors).
This information is available on our website: www.InovaResources.com.
(ABN 20 107 689 878)
Contact
Inova Resources Limited
Stephen Nossal, Senior VP Corporate Development
+61 3 9090 8800
Stephen.Nossal@InovaResources.com
www.InovaResources.com
Hintons
Nerida Mossop
Media
+61 3 9600 1979 or +61 437 361 433