Appointment of Nominee DirectorsMacmin Silver Ltd (Subject to...

[b]Appointment of Nominee Directors[/b]

Macmin Silver Ltd (Subject to Deed of Company Arrangement)
ACN 056 776 160
ASX code: MMN (“Macmin” or “the Company”)


Appointment of Nominee Directors

The Deed Administrator appointed the following nominees of the Syndicate as Directors of the Company effective 21 August 2009 pursuant to clause 5.1 of the Recapitalisation Deed:

Richard Milne Harris•

Andrew John King•

Charles Waite Morgan•

Details of the experience and qualifications of the Nominee Directors is annexed to this announcement.

[b]Powers of the Nominee Directors[/b]

[u]In accordance with clause 5.2 of the Recapitalisation Deed, the powers of the Nominee Directors are limited to:[/u]

Prepare, finalise and dispatch the a. Shareholder Notice of Meeting;

b. of Meeting to ASX and ASIC for approval;

Deal with ASX and (if applicable) c. ASIC in relation to the Shareholder Notice of Meeting and all matters and ancillary thereto;

Deal with any person as may be d. necessary to prepare, finalise and dispatch to Macmin Shareholders the Shareholder Notice of Meeting including (without limitation) a person responsible for maintaining Macmin’s share register;

Prepare and finalise the Prospectus;e.

Lodge the Prospectus with ASIC f. prior to Completion; and
Receive applications for New g. Shares under the Prospectus in advance of Completion.

Notwithstanding the appointment of the Nominee Directors, the Deed Administrator retains all of the powers afforded to him under the Corporations Act 2001 and the Deed of Company Arrangement and remains in control of the Company.

[b]Who can I contact for more information?[/b]

The Deed Administrator will continue to provide further updates to shareholders[u] by way of announcements to the ASX[/u]. Shareholders with further queries should refer to the Deed Administrator’s previous announcements. Any other urgent queries should be directed to Pitcher Partners in Perth.

BRYAN HUGHES
DEED ADMINISTRATOR


[url]http://www.hotcopper.com.au/asx_announcements.asp?id=83446[/url]



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