ASA Resource Group PLC Board Changes (9574K)

TIDMASA

RNS Number : 9574K

ASA Resource Group PLC

27 September 2016

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 [e-mail]

London

Asa Resource Group plc.

One Fleet Place, London EC4M 7W

Yim Kwan, Finance Director

Tel: [phone]

[e-mail]

Hong Kong

Asa Resource Group plc.

Units 509-510, Level 5, Core E, Cyberport 3, 100 Cyberport Road, Hong Kong

Tel: [phone]

[e-mail]

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: [phone]

Financial Adviser and Joint Broker

Cantor Fitzgerald Europe

1 Churchill Place, Canary Wharf, London E14 5RB

Stewart Dickson, Patrick Pittaway

Tel: [phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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September 27, 2016 06:25 ET (10:25 GMT)