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Created on Thursday, 29 April 2010 14:34
Kazakhstan Kagazy plc (the “Company”) announces the resignations from the Board of Alessandro Manghi and Thomas Johnson on 15 January 2010 and the appointment to the Board of Tomas Mateos Werner and Jeremy Polturak on 26 April 2010.
Tomas Mateos Werner (43), who has also been appointed Chairman of the Board, has since November 2009 been Chairman of the Board of Kazakhstan Kagazy JSC, the Kazakh holding company of the Group’s operations in Kazakhstan. Mr. Mateos currently controls approximately 28.6 per cent of the Company’s issued share capital. He is the Managing Partner of Werner Capital a private wealth management company having, from 1992 to 2008, held senior positions as a banker at Deutsche Bank, Merrill Lynch and HSBC in New York, Zurich, Frankfurt and London. He holds an MBA from Columbia Business School in the USA and London Business School in the UK, a CEMS-Master from the Hochschule St Gallen in Switzerland and is a Graduate in Law from UIB in Spain.
Jeremy Polturak (48) is the Managing Partner of NSO Petroleum a privately owned oil and gas company. He is also Principal Partner of Portico Advisors an FSA regulated alternative investment advisory firm. Between 1984 and 1997 Mr. Polturak held various positions at European Banking Company, Midland Montagu and latterly Bankers Trust where he was the head of Corporate Derivative FX and Fixed Income Sales.
The Board thanks Alessandro Manghi and Thomas Johnson for their service to the Group and wishes them success in their future ventures.
Discussions with the bond holders of Kazakhstan Kagazy JSCA and other bank lenders to the Group continue. Further announcements will be made in due course.
The Board notes that if these discussions do not result in a satisfactory conclusion, the ongoing prospects of the Group will be uncertain.
Enquiries
SP Angel Corporate Finance LLP
David Facey
Bruce Fraser
John Mackay
+44 20 7647 9650