Last checked at 3 Apr 2013 07:00
Polemos plc
(the "Company")
Directorate Change
The Company is pleased to announce the appointment of David Lenigas as Executive Chairman of the Company with immediate effect.
Mr. Lenigas holds a Bachelor of Applied Science Degree in Mining Engineering. He served as Executive Chairman of London listed Lonrho Plc from 2006 to September 2012 and was in charge of Lonrho plc's expansion into over 20 countries in Africa. He has experience operating in the public company environment across the UK, African, Canadian and Australian markets. He also serves as a director or chairman of a number of other publicly listed companies including Fastjet plc, Solo Oil plc and Leni Gas and Oil plc.
Concurrent with the appointment of Mr. Lenigas as Executive Chairman, Donald Strang will revert to the position of Finance director with immediate effect.
Donald Strang, Non-Executive Director of the Company, commented:
"Polemos Plc looks forward to David Lenigas taking the position of Executive Chairman of the Company and the board intends to broaden its investment strategy by seeking investments in oil and gas royalty streams on a global basis. The board endeavours to turn this Company around from the failings of the previous management."
As soon as reasonably practicable, Mr Lenigas will be issued options over a total of 8 million new ordinary shares of 0.01p each in the Company at an exercise price of 0.2 pence per share (the "Options"). These Options vest immediately and expire on 31 December 2020.
For further information, please contact:
Polemos plc +44 20 7440 0640
Donald Strang
N+1 Singer (Nominated Adviser and Broker) +44 20 7496 3000
Aubrey Powell / Alex Wright
Appendix - Information required under AIM rules
David Anthony Lenigas, aged 51, holds no shares in the Company. Save as disclosed below, there are no further disclosures to be made under Schedule Two, paragraph (g) of the AIM Rules.
Current directorships
3D Resources plc (conditional on approval at EGM on 24 April 2013)
Central African Investments plc
FastJet plc
Solo Oil (Argentina) Limited
Stellar Resources Plc
Solo Oil International Limited
RET Services Limited
Rare Earth Resources Limited
Rare Earth Minerals Plc (formerly Zest Group plc)
Lonrho Air Three (BVI) Limited
Active Resource Realisation Fund
Solo Oil plc (formerly Immersion Technologies International plc)
Lonrho Aviation (BVI) Limited
Lonrho Air (2) (BVI) Limited
Five Forty Africa (BVI) Limited
Lonrho Air Africa (BVI) Limited
Lonrho Air (BVI) Limited
Five Forty Aviation Limited
Leni Gas & Oil plc
Past directorships held within the last 5 years
Certain of the directorships below, are positions held as a result of Mr Lenigas' role as a board director of Lonrho plc (from which he resigned in September 2012), and in respect of which Mr. Lenigas has resigned and in some instances is awaiting formal confirmation from the local Companies House equivalent.
Lonrho Mining Limited
Reef Resources Ltd
Tanzania Machines Limited
Tanzania Harvest Limited
Lonrho Ports Ghana Limited
Lonrho Ghana Ports Limited
LonAgro (SS) Limited
Benson Global Trading Limited
Lon Agro Tanzania Limited
Yuagong (Pty) Limited
Lonrho Hotels Nigeria Limited
Lonrho Hotels DRC Limited
Lonrho Hotels SA Limited
Lonrho Hotels Ghana Limited
Lonrho Hotels Kenya Limited
Lanitrim (Pty) Limited
Caropix (Pty) Limited
Lonrho Investments Limited
Lonrho Holdings Limited
Swissta Holdings Limited
Lonrho Plc
Lonrho Africa (Holdings) Limited
Strenner Holdings Limited
Lonrho Ports Limited
Oceanfresh Seafoods (UK) Limited
Lonrho Resources Ltd
Lonrho Finance Ltd
Lontel Ltd
Lonrho Water Limited
Fresh Direct Limited
Lonrho Oil (Malawi) Limited
Lonrho Infrastructure (BVI) Limited
Lonrho Hotels Congo (BVI) Limited
Indit Technology Distribution (Pty) Limited
Complete Enterprise Solutions (Pty) Limited
Lonrho Hotels Management Services (BVI) Limited
Lonrho Agriculture Angola Limited
Rollex (Pvt) Limited
Rollex (Pty) Limited
e-Kwikbuild SA (Pty) Limited
Lonrho Management Services Limited
Lonrho Zimbabwe Management Services (Pvt) Limited
Lonrho Africa Management Services (Zimbabwe) Ltd
Lonrho Africa Motor Sales Limited
Norse Air Limited
South African Independent Liners Services (Pty) Limited
Lonrho Africa Holdings BV
Lonrho Springs BV
Lonrho Air BV
Lonrho Ports BV
Lonrho Africa Hotels BV
Lonrho Hotels BV
Lonrho Hotels Mozambique BV
Lonrho Africa Agribusiness BV
Lonrho Africa Distributors BV
Lonrho Africa Food Processing BV
Lonrho Africa Motors BV
Lonrho Distributors BV
Lonrho Motors BV
Lonrho Agribusiness Limited
Laytons Offshore Limited
Lonrho Equipment Limited
Mozambique Machines Limited
Crop Harvest Limited
Oceanfresh Seafoods (Pty) Limited
Cultivate Harvest Limited
LAH Jersey Limited
Protea Seafoods
Hotel Accommodation Limited
Afex Holdings Limited
Lonrho Water Limited
Africa Expeditions Limited
Africa Expeditions TZ Limited
Africa Expeditions Uganda Limited
Best In Tents Limited
Global Horizons Limited
Lonrho Hotels Limited
LAH Mozambique Hotels Limited
DRC Hotels Limited
Lonrho Ports & Infrastructure Limited
Lonrho Infrastructure Limited
Lonrho Ports Limited
LAH Jersey 2 Limited
Fish On Line (Pty) Limited
Lonrho Support Services Limited
Lonrho Integrated Support Services Limited
Lonrho Hotels (Holdings) Limited
Lonrho Budget Hotels Limited
Lonrho IT Limited
LAH Jersey 3 Limited
Lonrho Transport Limited
Lonrho Logistics (Pty) Limited
Luba Freeport Limited
Lonrho South Africa (Pty) Limited
Lonrho Management South Africa (Pty) Limited
Lonrho Projects South Africa (Pty) Limited
Lonrho Projects Consulting (Pty) Limited
Lonrho Projects Agri (Pty) Limited
Lonrho Energy (Pty) Limited
Lonrho Securitec (Pty) Limited
Lonrho Amathonga Hotels (Pty) Limited
Swissta Mozambique Lda
Sociedade Comercial Bytes & Pieces Limitada
Afriag Limited
Cambria Africa plc (formerly LonZim plc)
Blueberry International Services Limited
Wardlaw (1989) Limited
Le Har (Pvt) Limited
Rex Mining (Pvt) Limited
Peak Mines (Pvt) Limited
Gardoserve (Pvt) Limited
Celsys Limited
ForgetMeNot Africa Limited
Lonzim Agribusiness (BVI) Limited
Quickvest 525 (Pty) Limited
Lonzim Air (BVI) Limited
Southern African Management Services
Paynet Limited
African Solutions Limited
Medalspot (Pvt) Limited
Blueberry Print (Zambia) Limited
Morningdale Properties (Pvt) Limited
Lanuarna Enterprises (Pvt) Limited
LonZim Hotels Limited
Celsys Zambia Limited
WS Foods (Pty) Ltd
Linus Business Options (Private) Limited
Firstfood Enterprises (Private) Limited
Chenyakwaremba Farm (Private) Limited
Leopard Rock Hotel Company (Pvt) Ltd
Lyons Africa Holdings Limited
Lonzim Properties Limited
Lonzim Holdings Limited
Micobe Property Development Limited
Lonrho Properties Zimbabwe (Pvt) Ltd
Sindu Properties (Private) Limited
One Hundred & Seventeen Baines Avenue (Private) Ltd
Sol Aviation Company Limited
670 Plc
Zest Music Limited
Zest Songs Limited
Zest Entertainments Limited
Reggae Tunes Limited
Complete Enterprise Solutions Limited
Aldeamento Turistico de Macuti, SARL
Lonrho Auto Distributors Limited
Textile Investment Company Limited
River Diamonds UK Limited
Vatukoula Gold Pty Ltd (formerly Westech Gold Pty Ltd)
Vatukoula Finance Pty Ltd (formerly Westech Finance Pty Ltd)
Vatukoula Australia Pty Ltd (formerly Westech Australia Pty Ltd)
Zimbabwean Investments Ltd
Lonrho Springs Limited
Lonzim Management Limited
Templar Minerals Limited
Vatukoula Gold Mines plc (formerly River Diamonds plc)
Byron Energy Pty Ltd
Lonrho Jersey Limited
Vatukoula Gold Mines Ltd
Jubilee Mining Ltd
Koula Mining Ltd
Our Forgotten Children Limited
Hot Tuna (International) Inc
BDI Mining Corp (formerly BM Diamondcorp Inc)
Deepgreen West Virgina Inc
GCM Resources plc
Asia Energy Corporation (Bangladesh) Pty Ltd
Asia Energy Corporation Pty Ltd
Concha plc (formerly Hot Tuna (International) plc)
David Lenigas was a director of SA Independent Liner Services Pty Ltd ("SAILS") when it was placed into liquidation on 15 October 2008 - it was a subsidiary within the Lonrho Plc group of companies ("Lonrho Group") and was placed into liquidation by a unanimous board resolution of SAILS, the Lonrho Group currently being the major creditor, with this business being shown as a discontinued activity in the historic financial statements of the Lonrho Group.
David Lenigas was a director of Norse Air Limited which was placed into liquidation on 20 December 2010 - at the point of liquidation it was a wholly owned subsidiary within Lonrho Group and was placed into liquidation by a unanimous board resolution of Norse Air Limited, with this business being shown as a discontinued activity in the historic financial statements of Lonrho Group.