Microsoft Word - Appointment of Dr Fred Hess as Managing Director

PANAUST LIMITED ABN 17 011 065 160

Level 1, 15 James Street, Fortitude Valley, Brisbane | QLD | 4006 | Australia

PO Box 2297, Fortitude Valley Business Centre | QLD | 4006

T: +61 7 3117 2000 | F: +61 7 3846 4899 | E: info@panaust.com.au

ASX ANNOUNCEMENT

12 November 2014

The appointment of Dr Fred Hess as Managing Director

We refer to the announcement made this morning in relation to the appointment of Dr Fred Hess as Managing Director of the Company.
The Company has been asked whether or not the Director nominated by its cornerstone shareholder, Guangdong Rising Assets Management, participated in the decision. Whilst Mr Zezhong Li was an apology for the meeting, he communicated to the Chairman of the Board of Directors prior to the meeting that he was strongly in favour of the appointment of Dr Fred Hess as Managing Director.
It is also noted that Mrs Nerolie Withnall has been on a leave of absence. Accordingly, Mrs Withnall did not attend the Board meeting held yesterday afternoon (after market close) which resolved to implement the succession.
For further information contact: Investors:
Mr Joe Walsh Mr Allan Ryan
General Managing Corporate Development Investor Relations Manager
PanAust Limited
Tel: +61 7 3117 2000
Email: info@panaust.com.au
Website: www.panaust.com.au

Media:

Matthew Gerber or Garry Nickson
MAGNUS
Tel: +61 2 8999 1010

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