Leyshon Resources Limited Board Changes and Cost Reduction Measures (5738M)

TIDMLRL

RNS Number : 5738M

Leyshon Resources Limited

08 May 2015

LEYSHON RESOURCES LIMITED

8 May 2015

Board Changes & Cost Reduction Measures

Leyshon Resources Limited (AIM/ASX: LRL) ("Leyshon Resources" or the "Company") reports that the position of Managing Director has been made redundant. Corey Nolan, Managing Director, will assume a role of Non-Executive Director effective immediately.

The change reflects the Company's commitment to reducing costs as part of a broader restructure of the Company whilst it pursues investment opportunities. Going forward, Mr Nolan will receive a director's fee commensurate with the other directors of the Company. All directors' fees will also be reduced by 50 per cent. The Company is also seeking shareholder approval at the Annual General Meeting on 29 May 2015 to de-list from the Alternative Investment Market in London.

With the limited availability of suitable assets that can support new funding and re-compliance with a listing on the securities exchange, the Board believes the cost reduction strategy is prudent until such time as the Company completes a transaction.

For further information please contact:

Leyshon Resources Limited

Corey Nolan - Non-Executive Director

Tel: [phone]

[e-mail]

RFC Ambrian Limited

Samantha Harrison (Nominated Adviser)

Kim Eckhof (Corporate broking)

Tel: [phone]

http://www.leyshonresources.com

Leyshon Resources Limited ABN 75 010 482 274

Level 3 / Suite 3, 1292 Hay Street, West Perth 6005, Western Australia

Tel: + 61 8 9321 0077 Fax: + 61 8 9322 4073

This information is provided by RNS

The company news service from the London Stock Exchange

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