Mount Gibson Iron Limited announced changes to simplify its Board structure and reduce the number of Board representatives from the Company's major shareholders from three to two. The new structure follows a review initiated by the Chairman, Mr. Lee Seng Hui, to determine a more optimal
Board composition for a company of Mount Gibson's size. The changes reduce the total number of directors and strengthen the independence of the Board. To effect these changes, Mr. Chen Zhouping, a representative of major shareholder Shougang Fushan Resources Group Limited (Shougang), has agreed to step down as a Non-Executive Director, while Independent Non-Executive Director Mr. Geoffrey Hill has brought forward his previously announced retirement.