FSE - Firestone Energy Limited - Firestone Appoints of Directors

Release Date: 06/10/2011 08:18
Code(s): FSE
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FSE - Firestone Energy Limited - Firestone Appoints of Directors FIRESTONE ENERGY LIMITED (Incorporated in Australia) (Registration number ABN 058 436 794) Share code on the JSE Limited: FSE Share code on the ASX: FSE ISIN: AU000000FSE6 (SA company registration number 2008/023973/10) ("FSE" or "the Company") Firestone Appoints of Directors Firestone Energy Limited (ASX / JSE : FSE) ("Firestone" or the "Company") is pleased to announce the following changes to its Board. Morore Benjamin (Ben) Mphahlele and Kobus Terblanche have been appointed Non Executive Directors. Mr Sizwe Nkosi has terminated his executive role with the joint venture and Firestone to take up another senior executive role. Mr Nkosi has agreed to continue as a Non Executive Director for immediate future. The appointments considerably strengthen the Board`s knowledge in the areas of public administration and the development of coal resources in South Africa. Mr Mphahlele CAIB (SA), PMD (Harvard University School of Business Administration), PIAM (Harvard University), MBA - Finance (Regent Business School). Mr Mphahlele is a strategy and project management consultant as well as director of various companies. He has had a long career in banking, and public sector administration in South Africa. His roles have included senior positions with standard Bank of South Africa Limited and African Bank Limited. He has held a number of positions on behalf of the provincial Limpopo Government as well as the government of South Africa. Notably his roles with the Limpopo government included chairmanship of the provincial technical committee on economic development and he has, in that capacity, been involved in leading the economic development agenda of the region and particularly the development of mining sector in the Limpopo region which hosts the joint venture`s Waterberg project. His current memberships/directorships include: Regotje Investments (Chairman of the Investment Committee), South African Statistics Council (Chairperson of the Strategy Committee) and director, and Hlabirwa School of Commerce. Mr Mphahlele has also co-authored a number of articles published in the South African Journal of Economics. Mr Kobus Terblanche is currently President - Linc Energy Operations Australia & Africa Mr Terblanche commenced his career in research and development with the major South African company, Sasol Limited. He then participated in the establishment of Mossgas, the commercial GTL facility in South Africa, in senior management roles in the project, production, technical and business development areas. He was involved in the formation of PetroSA as General Manager of Corporate Strategy and New Ventures. Prior to joining Linc Energy, Kobus managed a refining, storage and logistics business for Glencore in the Democratic Republic of Congo (DRC), as Vice-President and Executive Director. Mr Terblanche has a Masters degree in Chemical Engineering from the University of Pretoria (South Africa), specialising in Fischer-Tropsch slurry technology and has completed studies at St
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