Ann: Laurence Freedman to retire as Chairman in F, page-3

re: Ann: Laurence Freedman to retire as Chair... G'day Dan.

Usually when something like this happens, such as a retirement of a major board member, I would be worried about the company going forward.

In this case I read nothing sinister into it.

I think Laurence always was reluctant to have to take on the position in the first place however, I think that there was no alternative but to bring his considerable expertise to the table to protect his considerable investment in the company.

I note that he intends to hold that considerable investment into the future.

I think he just wants to step back now that he is confident that the company is on a solid footing.

I have met him a couple of times and he strikes me as very genuine.

I take it as a sign that all is well with KGM rather than a sign that there are problems.

The management team have done a great job getting the company on track and I am sure it will continue to flourish.

I do remember when it was stated what would happen going forward although I must admit that I had forgotten it until this announcement today.

Regards

Lockitt