End of year results12 May 2017 08:50
Fri, 12th May 2017 07:00
RNS Number : 9282E
Pembridge Resources PLC
12 May 2017
12 May 2017
Pembridge Resources Plc
("Pembridge" or "the Company")
Results for the Year Ended 31 December 2016
Pembridge Resources (AIM: PERE), the mining investment company specialising in base and precious metals, today announces its results for the year ended 31 December 2016.
Adoption of new strategy:
· The Company continues to seek opportunities to either complete a reverse takeover or convert into an investing company;
· Creation of exceptional management team with the expertise and track record to deliver shareholder value;
· Appointment of David Linsley as Chief Executive Officer;
· Senior management appointments:
- Peter Bojtos, President
- Spencer Davey, VP Business Development
- Adam Melnik, VP Strategy;
· Creation of Advisory Panel with the appointments of Frank McAllister and Guy Le Bel;
· Pipeline of opportunities identified and with a number of projects currently being evaluated with a potential value range between $5 million and $50 million;
· Opportune timing as the Directors believe that investor sentiment towards the sector has considerably improved; and
· Change of name to Pembridge Resources.
Rod Webster, Chairman of Pembridge, commented:
"2017 has seen some significant changes to the old China Africa Resources. With improved market sentiment and the compelling pipeline of projects management is reviewing, the Board look forward to delivering its goals and enhancing shareholder value."
A copy of the annual report and accounts will be posted to shareholders 15 May 2017 and is available on the Company's website - www.pembridgeresources.com.
For further information on the Company, visit: http://www.pembridgeresources.com/
Pembridge Resources PLC
David Linsley, Chief Executive Officer
T: +44 (0)20 3778 0655
SPARK Advisory Partners - Nominated Adviser
Sean Wyndham-Quin
Neil Baldwin
T: +44 (0) 20 3368 3555
www.sparkadvisorypartners.com
Shard Capital - Joint Broker
Damon Heath
T: +44 (0) 20 7186 9900
SI Capital Limited - Joint Broker
Nick Emerson
Andy Thacker
T: +44 (0) 1483 413 500
Beaufort Securities Limited - Joint Broker
Elliot Hance
T: +44 (0) 20 7382 8300
Blytheweigh - Financial PR
Tim Blythe, Camilla Horsfall, Nick Elwes
T: +44 (0) 20 7138 3204
Shareholders should be aware that within six months of becoming an AIM Rule 15 cash shell (on 14 December 2016), the Company must make an acquisition or acquisitions which constitutes a reverse takeover under Rule 15 or face suspension from trading on AIM. The process of converting into a Rule 8 Investing C