iberian swap board reps

http://www.wabusinessnews.com.au/en-story/1/53392/Tamaya-Iberian-swap-board-reps-after-takeover-fails


Tamaya, Iberian swap board reps after takeover fails
7-June-07 by Andrew Hobbs

Less than one week after Sydney-based copper miner Tamaya Resources Ltd failed to gain sufficient shareholder approval for a takeover of West Perth-based gold miner Iberian Resources Ltd, the companys have swapped directors.

Iberian non-executive chairman Graeme Walker has resigned from the company board, to be appointed as a director of Tamaya.

In his place, Tamaya managing director Michael Fischer has been appointed executive chair of Iberian, with a brief to accelerate the transition of Iberian to production status, according to a Tamaya announcement.

Tamaya had secured secured 86.21 per cent of Iberian before its $120 million takeover offer closed.

Tamaya chairman Hugh Callaghan, exploration director Nick Lindsay and company secretary Simon Brodie will also join the Iberian board.

Tamaya director Peter Evans also announced his resignation today.

The proposed merger would have brought together the Chilean copper-gold producing assets of Tamaya and Iberian's advanced gold assets in Armenia and Portugal.

Mr Callaghan told AAP earlier this month that Tamaya intended to run the companies with a single management team.

"We intend to integrate the companies as rapidly as possible and we'll be accelerating our review of all the Armenian and Portuguese assets," he said.

"We expect to make an announcement during the September quarter as to the immediate strategic plan for each."