Steppe Cement Ltd announced that Malcolm Brown will retire on 28 May 2015 as the non-executive chairman “due to health reasons” and he does not intend to stand for re-election in the forthcoming AGM.

Mr Brown has served on the Board for more than six years since December 2008 and as a member of the Audit and Remuneration Committees. He will remain as a shareholder of Steppe Cement.

Kazahstan-based Steppe said it is presently searching for an appropriate candidate to replace Malcolm Brown as the Chairman and an announcement will be made in due course.