The Board of IRC Limited has announced that Mr. Peter Hambro, a Non-Executive Director, has been appointed as Non-Executive Chairman of IRC with immediate effect. Consequently, Mr. Hambro will no longer act as the company's nominee director on the IRC Board. Mr. Hambro will continue to be the President of Petropavlovsk and Senior Adviser to the Board on issues where there is no conflict with his Chairmanship of IRC.