Amsterdam, 20 May 2016
NWR Board and Management Changes
In light of the recent developments, New World Resources Plc (“NWR Plc” and together with its subsidiaries, the “NWR Group”) is taking all practicable actions to minimise its costs and streamline its remaining responsibilities and activities.
Bessel Kok, Alyson Warhurst and Ian Ashby have each tendered their resignation from their role as Directors of the board of NWR Plc, effective as of 20 May 2016.
Gareth Penny has tendered his resignation from his role as Executive Chairman of the Board of NWR Plc, effective as of 31 May 2016.
NWR Plc thanks each of Gareth, Bessel, Alyson and Ian for their contributions to the NWR Group.
Barry Rourke will remain as a Non-Executive Director of NWR Plc. Boudewijn Wentink will remain as an Executive Director of NWR Plc and will take over Gareth Penny’s executive responsibilities with effect from 31 May 2016.
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New World Resources Plc is a Central European hard coal producer. NWR produces quality coking and thermal coal for the steel and energy sectors in Central Europe through its subsidiary OKD, the largest hard coal mining company in the Czech Republic.
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