Mr. De Gersigny has extensive finance experience within the mining industry. He is currently the Finance Manager of ENRC's DRC West Operations, which includes the Camrose group. Prior to this, he was the Finance Controller for Boss Mining S.p.r.l., a company within the Group. Prior to joining the Group he held management positions within the finance departments of AngloGold Ashanti Group and Shell.
Metalkol has yet to commence operations and there are currently no ENRC representatives on the Metalkol board. At Completion, all Cerida appointed directors will resign and ENRC appointed directors will be appointed to the Metalkol board. Once Metalkol has commenced operations, it is anticipated that James Bethel will be General Manager ("Directeur General") of Metalkol and Georges De Gersigny will be Financial Manager of Metalkol.
About ENRC ENRC is a leading diversified natural resources group, performing integrated mining, processing, energy, logistics and marketing operations. The operations comprise: the mining and processing of chrome, manganese and iron ore; the smelting of ferroalloys; the production of iron ore concentrate and pellet; the mining and processing of bauxite for the extraction of alumina and the production of aluminium; the production of copper and cobalt; coal extraction and electricity generation; and the transportation and sales of the Group's products. The Group's production assets are largely located in the Republic of Kazakhstan; other assets, notably the Other Non-ferrous Division, are mainly located in Africa; the Group also has iron ore assets in Brazil. In H1 2012 the Group's entities employed on average 78,430 (H1 2011: 75,050) people. The Group currently sells the majority of its products to Russia, China, Japan, Western Europe and the United States. For the six months ended June 30 2012, the Group had revenue of US$3,246 million (H1 2011: US$4,011 million) and profit attributable to equity holders of the Company of US$463 million (H1 2011: US$1,166 million). ENRC has six operating Divisions: Ferroalloys, Iron Ore, Alumina and Aluminium, Other Non-ferrous, Energy and Logistics. ENRC is a UK company with its registered office in London. ENRC's shares are quoted on the London Stock Exchange ('LSE') and the Kazakhstan Stock Exchange ('KASE'). For more information on ENRC visit the Group's website at www.enrc.com.Morgan Stanley & Co. Limited is acting as financial adviser to ENRC and no one else in connection with the matters described in this announcement. In connection with such matters, Morgan Stanley & Co. Limited, its affiliates and their respective directors, officers, employees and agents will not regard any other person as their client, nor will they be responsible to any other person for providing the protections afforded to their clients or for providing advice in relation to the proposed transaction, the contents of this announcement or any other matter referred to herein.