WELLINGTON. 9 May 2012.
The Rt. Hon. Dame Jenny Shipley and former Tata Steel and Bluescope Steel Managing Director, Kirby Adams, have agreed to positions as non-executive directors of iron sands explorer, TTR (Trans-Tasman Resources Limited), following an election meeting held on May 8, 2012, following the company’s Annual General Meeting. At the same time, David Grant, a founding partner and director of TTR, has left the board while remaining a major shareholder in the company.
Bill Bisset, Chairman of TTR said, “We are delighted that two people with such impressive international experience and careers have joined our board. Dame Jenny’s established political credentials and Kirby Adams’ extensive experience at the top of the international steel industry will bring substantial value and mana1 to our board”“As well as her political strengths, Dame Jenny has strong, established commercial skills. These, joined with the impressive steel industry credentials from Kirby Adams, are expected to make significant contributions to the board’s discussions about the future development of the business. We are fortunate that, of the many opportunities available to both of them, Dame Jenny and Kirby Adams have agreed to join TTR.”
Dame Jenny Shipley was Prime Minister of New Zealand from 1997-1999 and chaired the Asia Pacific Economic Co-Operation (APEC) forum in 1999. She is a Director of China Construction Bank; by market capitalisation the world’s second largest bank. She is Chair of Genesis Energy, New Zealand’s largest electricity and gas retailer. She is also Chair of Mainzeal Construction, Momentum Consulting, Senior Money International and the Financial Services Council New Zealand. She is Vice President of The Club of Madrid, a group of former Presidents and Prime Ministers who share their expertise to promote democracy worldwide.
Kirby Adams is an experienced international chief executive and director with a proven ability to create substantial shareholder value in large, complex, multi-national businesses. He was Managing Director and CEO of Tata Steel Europe (also known as CORUS) one of the ten largest global steel companies. Prior to that he was the Founding Managing Director and CEO of Bluescope Steel, a substantial ASX listed company.
Paul Berend, TTR CEO, has also thanked retiring board member, David Grant for his “major contribution to the development of the business. As well as being a founder investor, he has brought his outstanding corporate finance skills to the company. His significant experience in equity and debt markets, statutory reporting, treasury, taxation and corporate governance has played an important role in supporting and encouraging the board. We thank him for his work and dedication and are delighted that he will remain close to the company as a major shareholder.”Former New Zealand Prime Minister and former Tata Steel MD Join Board of TTR, New Zealand Iron Sands ExplorerAbout Trans-Tasman Resources Ltd:
TTR (Trans-Tasman Resources) is a privately-owned New Zealand company. It was established in 2007 to explore, assess and develop the potential of the rich offshore iron ore deposits off the west coast of the North Island of New Zealand. Prospecting work to date suggests there is a vast world-class mineral resource which could supply Asian markets with a reliable supply of low-cost iron ore. TTR has a JORC compliant recoverable mineral resource determined by Golder Associates Pty Ltd of in-situ 4,638Mt @ 6.23% Fe2.
In April 2010, Denham Capital Management, a global private equity firm that invests in the energy and commodities sectors, announced that it had made an equity investment in the company.
