The directors of Aquarius Platinum
Limited (Aquarius Platinum) provide hereunder their report as
to the results and state of affairs of the group for the financial
year ended 30 June 2004.
Directors
The names of the directors of the parent entity in office
during the financial year and until the date of this report
are as follows:
Nicholas T. Sibley, FCA Non-executive Chairman
Mr Sibley is a chartered accountant, a director of a quoted
investment company, a director of Corney and Barrow Group
Ltd and a director of Tanzanite One Ltd. He was formerly chairman
of Wheelock Capital from 1994 to 1997, as well as executive
chairman of Barclays de Zoete Wedd (Asia Pacific) Limited,
from 1989 to 1993. Mr Sibley is a former managing director
of Jardine Fleming Holdings Ltd and Barclays de Zoete Wedd
Holdings Ltd. Mr Sibley was appointed to the Aquarius Platinum
Board during October 1999 and assumed the Chairmanship in
July 2002. Mr Sibley is a member of the Audit/Risk, Nomination
and Remuneration & Succession Planning Committees of the
group.
Stuart A. Murray, B.Sc (Eng) Chief Executive Officer
Mr Murray joined Aquarius Platinum during May 2001 and was
appointed Chief Executive Officer. He is also Chairman of
AQP(SA), the Group’s 75% owned subsidiary. Mr Murray
is responsible to the board for the implementation of the
group’s strategic plan to achieve 600,000 ounces of
PGM production per annum in 2006. After obtaining his degree
in Chemical Engineering from Imperial College, London, Mr
Murray commenced his career in 1984 with Impala Platinum Holdings
Limited. Mr Murray is a member of the Nomination Committee
and Executive Committee of AQP(SA).
Patrick D. Quirk, B.Com Non-executive Director
A Director since July 2002, Mr Quirk has many years’
experience in the metals and mining sectors, operating in
Zimbabwe, South Africa, the United Kingdom, Switzerland and
Monaco. He is currently a director of Zimasco Consolidated
Enterprises Limited. He purchased the Mimosa Platinum Mine
from Union Carbide in 1993. Mr Quirk holds a commerce degree
from Rhodes University, Grahamstown. He currently resides
in London. Mr Quirk is a member of the Nomination Committee
of the group.
Cathie E. Markus, BA, LLB Non-executive Director
Mrs Markus was appointed to the Aquarius Platinum Board during
December 2000. Mrs Markus is a qualified attorney, notary
and conveyancer and since practising as an attorney in South
Africa has held internal corporate lawyer appointments in
engineering and platinum mining companies for the last 19
years. Mrs Markus is currently an Executive Director of Impala
Platinum Holdings Limited, the world’s second largest
platinum producer, and a Non-executive Director of Ispat Iscor
Limited. Mrs Markus is a member of the Nomination, and Remuneration
& Succession Planning Committees.
Sir William Purves, CBE DSO GBM Non-executive Director
Sir William was appointed to the Aquarius Platinum Board on
10 February 2004. Sir William joined The HongKong and Shanghai
Banking Corporation in 1954 (now part of the HSBC Group).
He was appointed Chief Executive in 1986 and Group Chairman
the following year. Sir William retired from HSBC in 1998.
He was appointed a Commander of the Order of the British Empire
in 1990 and was knighted in 1993. Sir William is Chairman
of the Audit/Risk Committee and a member of the Nomination
Committee.
David R. Dix Non-executive Director
Mr Dix was appointed to the Board of Aquarius Platinum on
31 March 2004. Mr Dix’s background is in economics,
law and taxation and he is a Barrister and Solicitor in the
High Court of Australia. He has held positions with Shell
Australia Limited, Macquarie Bank Limited and spent nine years
with UBS Warburg, based in Melbourne as Head of Resources
for Asia Pacific and London as Head of Mining. Mr Dix was
elected Chairman of Quadrem Limited in 2002, a company which
provides eBusiness solutions to the resource sector. Mr Dix
is a member of the Audit/Risk and Nomination Committees.
G. Edward Haslam Non-executive Director
Mr Haslam was appointed to the Aquarius Platinum Board on
1 May 2004. Mr Haslam is the former Chief Executive of Lonmin
plc. He joined Lonmin in 1981, appointed a director in 1999
and Chief Executive Officer in November 2000. He retired from
Lonmin plc in April 2004. Mr Haslam is also a director of
Furuya Metals Co Limited in Tokyo. Mr Haslam is Chairman of
the Remuneration & Succession Planning Committee and a
member of the Audit/Risk and Nomination Committees.
