Herencia Resources PLC Board Restructure and Corporate Reinvigoration (6990I)

TIDMHER

RNS Number : 6990I

Herencia Resources PLC

01 September 2016

Herencia Resources plc

("Herencia" or the "Company")

Herencia Commences Board Restructure and Corporate Reinvigoration

Herencia confirms today that it has commenced a process of restructuring which will involve the appointment of two new Directors over the next week to oversee Herencia's reestablishment as a viable junior exploration and development company.

As part of that restructure and subject to final negotiation between the parties, Herencia is pleased to advise that Peter Reeve will join the board as a Non Executive Director. A further announcement will be made in due course when the appointment is finalised.

Peter Desmond Reeve, aged 54, has been involved in the resources industry for approximately 30 years and, as a professional metallurgist, has held positions with Rio Tinto, Shell-Billiton and Newcrest Mining. The directors believe that, having served as CEO in various companies, he possesses the broad corporate skill base to assist Herencia's next challenging phase of development.

Peter founded and was Chief Executive Officer of large Australian based copper company, Ivanhoe Australia and was also involved in an African iron ore start-up company. Peter has also worked in Resource Funds Management and Resource Corporate Finance. He has been a Director of several small resource companies and in these roles aims to develop commercial strategies, align with the business with the investment community and assist in development funding needs.

He is currently Executive Chairman of Aura Energy Ltd an ASX-listed uranium and gold development company.

Peter is a director and partner of, and has in the last 5 years been a director or partner of, the following companies:

 
 Current directorships   Directorships and Partnerships 
  and partnerships        held in the last 5 
                          years 
 Copperchem Limited      Emmerson Resources 
                          Limited 
                          Exco Resources Limited 
                          Ivanhoe Australia Limited 
                          Havilah Resources Limited 
                          Chinova Resources Osborne 
                          Pty Limited* 
                          Chinova Resources Operations 
                          Pty Limited* 
                          Chinova Resources Tennant 
                          Creek Pty Limited* 
                          Chinova Resources Cloncurry 
                          Mines Pty Limited 
                          Chinova Resources Pty 
                          Limited* 
                          Scandium Holding Company 
                          Pty Limited 
                          Scandium21 Pty Limited 
                          Syerston Scandium Pty 
                          Limited 
                          *indicates companies 
                          which were formerly 
                          Ivanhoe Group companies. 
 

There is no further information required to be disclosed pursuant to Rule 17 or Schedule 1, paragraph

(g) of the AIM Rules for Companies.

For further information please contact:

Graeme Sloan, Herencia Resources plc +61 8 9481 4204

Katy Mitchell, WH Ireland Limited (NOMAD) +44 161 832 2174

Jon Belliss, Beaufort Securities Limited (UK) +44 207 382 8300

Further background details on the Company can be found at www.herenciaresources.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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September 01, 2016 05:47 ET (09:47 GMT)