Intrepid Mines Limited
ASX : IAU

Intrepid Mines Limited

July 02, 2015 09:30 ET

Intrepid Mines Limited: Board Appointment

SYDNEY, AUSTRALIA--(Marketwired - July 2, 2015) - Intrepid Mines Limited (ASX:IAU) ("Intrepid or" the "Company") advises that Mr Richard Baumfield has been appointed to the Company's Board, with effect from 1 July 2015, having been nominated to this position by Mr Lloyd Miller, a holder of approximately 15% of the Company's securities. Mr Baumfield has undertaken to step down from his board position should Mr Miller's shareholding fall below 10%.

Mr Baumfield is currently an adjunct assistant professor of law at Bond University, having previously practised for ten years as a partner at New York law firm Andrews Kurth LLP. He is a strategic investment specialist, who brings with him experience in investment and corporate governance advisory.

Mr Baumfield's appointment is the first step in a board renewal process which the Company is undertaking. The current board composition is under review, both for size and the mix of skills and experience contributed by existing directors. Further changes will be announced in the fourth quarter of 2015, following an internal review. In the interim, Mr Baumfield's appointment has not increased the total pool of directors' remuneration payable, as all existing directors have agreed to take a 15% reduction in their remuneration. Mr Baumfield will receive an annual fee of $72,250 plus statutory superannuation.

Directors

Ian McMaster (Chairman)
Mike Oppenheimer (Deputy Chairman)
Scott Lowe (Managing Director)
Alan Roberts (Non-executive Director)
Derek Carter (Non-executive Director)
Nicole Bowman (Non-executive Director)
Vanessa Chidrawi (Company Secretary)

Shareholder Enquiries

Matters related to shares held, change of address and tax file numbers should be directed to:
Computershare Investor Services
GPO Box 2975, Melbourne, Victoria 3001,
Australia
Telephone: 1300 805 505
+61 3 9415 4000

ABN : 11 060 156 452

Contact Information