Homeland Energy Group Announces Change to Board of Directors
16.02.2012 | Marketwire
TORONTO, 02/16/12 - Homeland Energy Group Ltd. (TSX: HEG) ('Homeland' or the 'Company') wishes to announce that Mr. BVN Rao has tendered his resignation as Chairman and Director of the Company. Mr. Rao's other responsibilities within the GMR Group have changed resulting in his being unable to devote the time required to his responsibilities with HEG. HEG wishes to thank Mr. Rao for his contributions to the Company.Mr. Raaj Kumar has been appointed as Chairman to replace Mr. Rao.
In addition, the board of directors has appointed Mr. Bhaskar Rao as a director to fill the vacancy created by Mr. BVN Rao's resignation. Mr. Bhaskar Rao is a Chartered Accountant located in India and has been a CPA in the USA. He has over 20 years experience as a professional and as an entrepreneur. Since May of 2011 Mr. Rao has been the CFO - Energy Sector at GMR Group. Prior to that, he was CFO - Corporate and CFO - International Business in GMR. Before joining GMR, Mr. Rao was an entrepreneur and founded a 50 store 'SMART' branded retail chain employing 800 people between 2004 and 2008, with revenues of Rs. 80 crore, which he has subsequently divested. Prior to this he has worked in various key positions in GMR Group, Rashideen International - Dubai / Turkey, Nasco Nasreddin Holding A.S., Turkey, the UB Group and B K Birla Group.
Homeland Energy Group Ltd. (TSX: HEG) is a coal producer with operations in the Witbank area of South Africa. The company also has a large-scale development property in South Africa and exploration interests in Southern Africa. Homeland will continue to seek out interests in additional coal projects in South Africa and neighbouring countries as well as internationally. Homeland is a shareholder in Homeland Uranium Inc., a Canadian uranium exploration company focused on projects in Niger and the United States. Homeland Energy Group Ltd. is currently traded on the Toronto Stock Exchange under the symbol 'HEG' with 471,204,149 common shares issued and outstanding. www.homelandenergygroup.com.
Contacts:
Homeland Energy Group Ltd.
Ashis Basu, Interim Chief Executive Officer
+1 416 506-1979
info@homelandenergygroup.com
www.homelandenergygroup.com