management change - re: eoin

http://www.indiaresources.com.au/files/Management_Change_010909.pdf

So, is this good news, neutral or bad?


MANAGEMENT CHANGE
The Board of India Resources Limited (Company) advises that Eoin Rothery has decided to step
down as an executive director of the Company but will remain on the Board as a non-executive
director. Mr Rothery has agreed to provide geological consultancy services to the Company on
an ongoing basis.
Mr Rothery’s decision follows the Company’s stated objective of focussing on existing mining
operations and mine development opportunities in India, leading to a reduced emphasis on
exploration activities. In recent months, the Company has been successful in introducing joint
venture partners on the Company’s primary exploration assets in India.
Mr Rothery has been the Company’s Executive Director – Exploration and Project Development
since April 2009 and will retain involvement in the Company’s exploration activities in his
consultancy capacity.
As part of the consultancy arrangements and subject to shareholder approval, the Company will
issue 2 million shares to Mr Rothery.
The Board acknowledges Mr Rothery’s significant contribution as an executive since the
Company’s listing on the ASX in June 2007 and is grateful for his continuing involvement in a
non-executive director capacity.
Yours faithfully
Andrew Simpson
Chairman