ANGLO-AFRICAN MINERALS PLC: New Funding and Directorate Changes
Company: Anglo-African Minerals plc
GXG Markets: AAM:G4 ( www.gxgmarkets.co.uk )
Symbol: ISIN: IE00B66ML191
Release Date: 6th February 2013
Anglo-African Minerals plc - New Funding and Directorate changes
Anglo- African Minerals plc ("Company"), the dedicated bauxite exploration and development company is pleased to announce the terms of a funding facility from its chief executive, Michael Smith, of up to €1 million with €500,000 drawn down to date. As a consequence of this funding a re-structuring of the board of the Company has taken place, as follows. The following directors have been appointed to the board:
Mr. Neville is a British national with extensive experience in the management of publicly listed companies. Michael has significant expertise in matters of corporate finance, governance, development, including mergers, acquisitions and the raising of funds in the venture capital, debt and equity markets. His experience has included roles as Chairman and non-executive director of a number of listed companies both in the UK and abroad. He is currently a Director of Netcall plc and serves on the board of Cellcast plc, both AIM listed companies. He is also a director of Waste solutions partnership, and Cadiz limited both privately held companies.
Mr. Lumley is a British national who began his career in banking and thereafter in management consultancy. For the past three years Mr. Lumley has been active in the resources sector and is currently Chief Executive Officer of NAMA Resources plc, a gold, iron ore and coal mining Exploration Company operating in the North Artic region. James is also Managing Director of RAM Resources Pty Limited, an exploration company listed on the Australian Stock Exchange, with a Rare Metal Project in Greenland and gold assets in Australia.
Messrs. Roy Pitchford, Simon Farrell, and William West have resigned from the Board. In addition to the new members the Board now comprises Messrs. Michael Smith, David Bresloff, David Mann, Michel Billiard de la Motte, Mamadou Toure and Michel Pothier, who has been appointed following completion of the acquisition of Forward Africa Resources S.A.
Commenting on today's announcement, Michael Smith, CEO, said: "I am delighted to welcome Mike and James onto the board, where they will bring real strength as we seek to move the company forward, and I believe we can look forward to an aggressive and dynamic future under the strength of the new board. There is a strong and positive belief that the Company's bauxite deposits in Guinea can be brought to economic fruition. On behalf of the Board I would like to thank each of the resigning directors for their contribution and efforts towards the Company."
Mr Michael Smith -Chief Executive of Anglo-African Minerals plc Tel: +44 20 73185383
-0- Feb/06/2013 09:32 GMT