Changes to the Board – 26 July 2013
Colombian-focused coal explorer Ascot Resources Limited (ASX: AZQ) (Ascot or the Company) wishes to advise of the following Board changes. Effective 29 July 2013, Executive Chairman, Paul Kopejtka, will step down from his role as Executive Chairman and will continue with the Company in the capacity of a Non-Executive Director. Mr Kopejtka has elected to take a less active role with the Company after successfully positioning it as a multi-project, emerging developer of metallurgical coal projects in Colombia. The Board would like to thank Paul and recognise his substantial contribution to the Company since becoming Executive Chairman. In addition, effective 29 July 2013, Mr Andrew Caruso, will be appointed Executive Chairman of the Company. Mr Caruso is currently Managing Director and Chief Executive Officer of the Company. Mr Caruso commented: “Paul’s substantial efforts in establishing an in country management team with local experience in project development is testament to his commitment to successfully delivering the Titiribi Project. This commitment has been further demonstrated by the proposed acquisition of the Uraba Project and the investment of working capital into the Company against extremely challenging market conditions. The Board recognises these significant contributions made by Paul as the successful foundations of the
Company and we look forward to his ongoing guidance.”
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