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27 Sep 2016 11:25
27 September 2016
Asa Resource Group plc
("Asa Resource", "the Group" or "the Company")
Board Changes - Executive Chairman
Asa Resource Group plc announces that at a meeting of directors held on 26th September 2016, it was agreed that Mr Yat Hoi Ning would step down as Executive Chairman to accept the appointment of Group Chief Executive. Mr David Murangari who was recently appointed to the board, was unanimously appointed as non-Executive Chairman of the Group. These changes are with immediate effect.
Speaking after his appointment Mr Murangari observed, "Asa Resource has gone through a tremendous transition over the last year" under Mr Ning's stewardship and that the appointment as chairman "was a challenge and an honour." "Our business here is to grow shareholder value. It is the only way a business can survive. We must make profits and develop the businesses as an AIM Listed company."
Mr Ning commenting on the board changes, "David's appointment is part of our long-term strategy to promote the Group's reputation within Zimbabwe and to strengthen our mining credentials. I took on the role of Executive Chairman during difficult times in 2015 and it was my intention to rebalance the board once the business had been stabilised. I believe we now have the team in place to deliver strong results in the years ahead. It is my intention to remain as Chief Executive until a suitable successor is found."
For more information please visit the company's website: http://www.asaukplc.com/ or email Communications@asaukplc.com
London
Asa Resource Group plc.
One Fleet Place, London EC4M 7W
Yim Kwan, Finance Director
Tel: +44 (0) 203 696 5470
Communications@asaukplc.com
Hong Kong
Asa Resource Group plc.
Units 509-510, Level 5, Core E, Cyberport 3, 100 Cyberport Road, Hong Kong
Tel: +852 25662638
Communications@asaukplc.com
Nominated Adviser and Joint Broker
SP Angel Corporate Finance LLP
Prince Frederick House, 35-39 Maddox Street, London W1S 2PP
John Mackay, Jeff Keating, Caroline Rowe
Tel: +44 (0) 20 3470 0470
Financial Adviser and Joint Broker
Cantor Fitzgerald Europe
1 Churchill Place, Canary Wharf, London E14 5RB
Stewart Dickson, Patrick Pittaway
Tel: +44 (0) 20 7894 7000
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