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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Fresnillo    FRES   GB00B2QPKJ12

FRESNILLO (FRES)

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Fresnillo Plc : appoints Non-Executive Directors

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04/17/2012 | 11:22am CEST

17 April 2012

Fresnillo plc appoints Non-Executive Directors

Fresnillo plc ("Fresnillo") is pleased to announce the appointment of Ms María Asunción Aramburuzabala and Mr Alejandro Baillères as non-executive Directors of Fresnillo. 

Ms Aramburuzabala is currently Vice Chairman of Grupo Modelo, one of Mexico's largest breweries. She also serves on the boards of several companies in Mexico including Grupo Aeroméxico, Grupo Financiero Banamex, Banco Nacional de México, Tresalia Capital and KIO Networks.  Her prior directorships include Grupo Televisa, Empresas ICA and América Móvil. She was educated at the Instituto Tecnológico Autónomo de Mexico (ITAM).

Mr Baillères has been the Chief Executive Officer of Grupo Nacional Provincial, a leading insurance company in Mexico. He is also a director of several companies within Grupo BAL, including Industrias Peñoles S.A.B. de C.V., the controlling shareholder in Fresnillo. Mr Baillères is also an alternate director of Coca-Cola FEMSA, the largest beverage company in Mexico and serves on the Board of Trustees of ITAM.

The Board believes that the broad range of experience of Mexican and international business which these two new Directors bring will broaden the perspectives and experience that are applied to Board discussions, and strengthen the overall mix of skills and experience on the Board.

The appointment of these two additional directors increases the number of Board members to twelve including eleven non-executive Directors. The appointments were proposed at a recent meeting of the board's nominations committee. Fresnillo shareholders will vote on the appointments at the Company's annual general meeting on 18 May 2012.

There are no other matters to disclose in accordance with paragraph 9.6.13R of the FSA's Listing Rules.

For further information, please visit our website: www.fresnilloplc.com or contact:

Fresnillo plc

London

Arturo Espínola

Head of Investor Relations

Tel: +44(0)20 7339 2470

Mexico

Gabriela Mayor

Tel: +52 55 52 79 3203

Brunswick Group

Carole Cable (Partner)

David Litterick (Director)

Tel: +44(0)20 7404  5959

About Fresnillo plc

Fresnillo is the world's largest primary silver producer and Mexico's second largest gold producer, listed on the London and Mexican Stock Exchanges under the symbol FRES.

Fresnillo has seven operating mines, all of them in Mexico - Fresnillo, Saucito, Cienega, San Ramon, Herradura, Soledad-Dipolos and Noche Buena; four development projects -Noche Buena (new gold mine at Herradura District), San Ramón mine (a satellite of the Ciénega gold mine), Saucito II, and Dynamic leaching to treat high grade gold ore from Herradura and Soledad-Dipolos mine; and five advanced exploration prospects - San Julián, Centauro Deep, Juanicipio, Orysivo and Las Casas as well as a number of other long term exploration prospects. In total, has mining concessions covering approximately 2.1 million hectares in Mexico.

Fresnillo has a strong and long tradition of mining, a proven track record of mine development, reserve replacement, and production costs in the lowest quartile of the cost curve for both silver and gold.

Fresnillo's goal is to maintain the Group's position as the world's largest primary silver company, producing 65 million ounces of silver and 500,000 ounces of gold by 2018.

..


This information is provided by RNS
The company news service from the London Stock Exchange
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Financials ($)
Sales 2017 2 167 M
EBIT 2017 804 M
Net income 2017 442 M
Debt 2017 128 M
Yield 2017 1,38%
P/E ratio 2017 32,11
P/E ratio 2018 24,68
EV / Sales 2017 6,81x
EV / Sales 2018 5,86x
Capitalization 14 632 M
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Mean consensus HOLD
Number of Analysts 16
Average target price 19,2 $
Spread / Average Target -4,1%
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Managers
NameTitle
Octavio Alvidrez Chief Executive Officer
Alberto Baillères González Non-Executive Chairman
Roberto Diaz Chief Operating Officer
Mario Arreguín Frade Chief Financial Officer
Jaime Lomelín Guillén Non-Independent Non-Executive Director
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