LONDON, UK: Serabi Gold plc (AIM:SRB, TSX:SBI), the Brazilian-focused gold mining and development company, announced the appointment of Mr Michael Lynch-Bell as a Non-executive Director and Chairman with immediate effect.
The Company also announces that Mr Bañados, who has acted as Non-executive Chairman since June 2020, will continue in office as a Non-executive director.
Mr Lynch-Bell spent a 38-year career with Ernst & Young (“EY”), having led its Global Oil and Gas, UK IPO and Global Oil and Gas and Mining transaction advisory practices. He was a member of EY’s assurance Practice from 1974 to 1996, when he transferred to the Transaction Advisory Practice. He was also UK Alumni sponsor and a member of the firm’s Europe, Middle East, India, and Africa and Global Advisory Councils. He retired from EY as a partner in 2012 and continued as a consultant to the firm until November 2013. Mr Lynch-Bell is a non-executive director of London-listed Gem Diamonds Limited, independent non-executive chairman of ASX-listed Little Green Pharma and independent non-executive director of JSE-listed Barloworld Limited.
Mr Lynch-Bell will be appointed as Chair of the Audit Committee and also serve on the Remuneration Committee.
Mr Lynch-Bell (FCA) graduated with a BA Hons Economics and Accountancy (University of Sheffield) and is a member of the Institute of Chartered Accountants in England and Wales.
Mr Eduardo Rosselot, who has served as a Director of Serabi since October 2012 is standing down from the Board. Mr Rosselot was one of two representatives on the Board, alongside Mr Bañados, appointed by Fratelli Investments Limited. Fratelli are not seeking to replace Mr Rosselot and will only have one representative appointed to the Board.
Mike Hodgson, CEO of Serabi commented: “I am delighted to have Michael join the Board of Directors of the Company as Non-executive Chairman. He brings a wealth of international mining experience to Serabi and will provide significant insight in his role as independent Chairman. . I would also like to take this opportunity to thank Eduardo for his ten years of service on the Board. He has visited the operations on many occasions over this time and provided valuable technical input. Whilst he is standing down from the Board, I am pleased that we will be able to continue to call on his services and support in the future”
Michael Lynch-Bell commented: “I am very pleased to take on this role with Serabi as the Company moves into the next exciting phase of its development with the ongoing development of Coringa and advancing the many opportunities that its exploration tenements present.”