WHITEHORSE, YT , Dec. 8 /PRNewswire-FirstCall/ - European Goldfields Limited (AIM: EGU / TSX: EGU) (the 'Company') is pleased to announce the appointment of Martyn Konig as a non-executive director of the Company.
Mr. Konig, aged 51, has 27 years experience in investment banking and the commodity markets. Mr. Konig has been Chief Executive Officer of Blackfish Capital Management Limited since 2005. He is also a director of AIM listed Latitude Resources, a resource focused investment group as well as being a non-executive director of TSX listed Western Goldfields Inc. He has extensive experience in the natural resource sector, which includes senior management responsibility in resource finance and commodity trading operations at various international investment banks. Mr. Konig was a main Board Director of NM Rothschild and Sons Ltd. for 15 years and held senior positions at Goldman Sachs and UBS. Mr. Konig is a Barrister and Fellow of the Chartered Institute of Bankers.
Mr. Konig's appointment follows the resignation effective December 5 of Mr. Philip Johnson as director of the Company. Mr. Johnson had been a director since May 2004 and has made a significant contribution to the Company as a non-executive director and member of the Company's board committees. The Company would like to express its gratitude to Mr. Johnson for his contribution during the course of the last four years.
Mr. Konig is currently a director of the following companies:
Blackfish Capital Management Limited
Blackfish Capital Holdings Ltd
Latitude Resources Plc
Western Goldfields Inc
Chambers Runfold Plc
Chambers Waste Management Plc
Mr. Konig has also been a director of the following companies within the
last 5 years:
EBT Mobile China Plc
The Trading Exchange (UK) Ltd
Resourceworks Plc
Resourceworks Trading Limited
Konmar Limited
Joyforever Limited
The Company also announced the adoption of a new compensation program for its independent non-executive directors utilizing deferred phantom units ('DPUs') to be issued under a new DPU plan which was adopted on December 5 by the Board of Directors. The issuance of DPUs as a core component of the non-executive directors' compensation will strengthen the alignment of interests between the non-executive directors and the shareholders of the Company by linking a portion of their annual retainer to the future value of the common shares of the Company.
