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RAYA GROUP LTD

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Panax Geothermal Ltd. : Resignation of Managing Director

03/13/2013 | 06:43am EDT



13 March 2013
Mr Cormac Murphy Adviser, Listings ASX Limited
Dear Cormac

Resignation of Managing Director

The Board of Directors of Panax Geothermal Limited ("Panax") today announces the resignation of Mr
Kerry Parker as Managing Director and Chief Executive Officer.
Mr Parker will leave the full time employment of Panax with effect from 30 April 2013.
To ensure a smooth transition for Panax, Mr Parker will remain on the Board of Panax as a Non-Executive
Director until 30 August 2013.
Commenting today, Panax Chairman Mr Athan Lekkas sincerely thanked Kerry for his contribution to
Panax and to the geothermal sector both in Australia and internationally.
The Board expresses its appreciation for Kerry's contribution in shaping and advancing Panax's position
as an Australasian geothermal exploration and development company
Mr Parker commenced with Panax in 2007, and has been instrumental in assembling and managing
Panax's portfolio of advanced geothermal development opportunities in Indonesia.
Yours faithfully

Panax Geothermal Limited George Yatzis

Company Secretary

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