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Weatherly International PLC  -  WTI   

Directorate Change

Released 07:00 17-Jan-2013

RNS Number : 7354V
Weatherly International PLC
17 January 2013

Weatherly International plc

("Weatherly" or the "Company")



Appointment of Non-Executive Director


Weatherly International is pleased to announce the appointment of Mr Charilaos Stavrakis to the Board as a Non-Executive Director.  Mr Stavrakis brings a wealth of international experience that will serve the Weatherly Board well as it continues to execute its corporate growth strategy.


John Bryant, Chairman of Weatherly added "I welcome Charilaos to the board and look forward to working with him over the coming years.  The appointment of a person of the calibre of Charliaos will significantly enhance the balance and strength of our board, and demonstrates our commitment to the growth of the Company."


Background of Charilaos Stavrakis


Mr Stavrakis, aged 57, recently served the Republic of Cyprus as Finance Minister from 2008 to 2011 as was the Governor for the Republic of Cyprus at the European Investment Bank (EIB).  He has over 25 years experience in the banking sector, the majority of which spent at the Bank of Cyprus, where he ultimately held the role of Deputy Group CEO from 2005 to 2008.


Mr Stavrakis has also held the Chairmanship of both the Electricity Authority of Cyprus (2005-2008) and the Cyrus Bank Employers Association.  He retains his position as Non-Executive Director of GPB Financial Services (subsidiary of GazpromBank).


Mr Stavrakis has extensive international banking experience in Cyprus, Australia, Russia and the UK.  He is a graduate of Economics from the University of Cambridge and holds an MBA from Harvard University.


About Weatherly

Weatherly is an AIM listed, copper focused mining company, the principal assets of which are located in Namibia. It currently has two producing copper mines (Otjihase and Matchless), and has recently completed a bankable feasibility study for the Tschudi Copper Project.  These assets will enable Weatherly to achieve its medium term strategy of establishing a copper mining business capable of sustaining approximately 20,000tpa of copper at industry average costs of production.


The Company also has a 25% stake in an AIM listed company, China Africa Resources Plc (CAF), which is currently focused on the development of a lead/zinc project at Berg Aukas in Northern Namibia.


For further information please contact:


Weatherly International Plc                                       +44 (0) 20 7917 2989

Rod Webster, Chief Executive Officer

Dean Friday, Investor Relations


Canaccord Genuity Limited                                         +44 (0) 20 7523 8000

Andrew Chubb, Sebastian Jones


Charilaos George Stavrakis, is currently a director of the following company:


      --     GPB Financial Services (subsidiary of GazpromBank)


Within the last 5 years, Mr. Stavrakis has been a director of the following companies:


      --     Electricity Authority of Cyprus

      --     Bank of Cyprus



Save as set out in this announcement, there are no further matters to be disclosed in accordance with paragraph (g) of Schedule 2 of the AIM Rules for Companies.


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Directorate Change - RNS