Cradle Arc PLC Directorate Changes (2145G)

TIDMCRA

RNS Number : 2145G

Cradle Arc PLC

02 November 2018

Cradle Arc plc / EPIC: CRA.L / Market: AIM / Sector: Mining

2 November 2018

Cradle Arc plc

("Cradle Arc" or the "Company")

Directorate Changes

Cradle Arc (AIM: CRA), the African focused base and precious metals exploration and production company, is pleased to announce the appointment of James Turnbull to the Board of the Company as a Non-Executive Director, with immediate effect. In addition, the Company announces that Michael Golding and Oscar Kirkovits have resigned from the Board, with immediate effect to pursue their other business interests.

James Turnbull began his career as a solicitor, qualifying with Linklaters in London in 1992, before transferring to the firm's Moscow office in 1995, where he advised on corporate finance and international securities issues. In 1998, he joined Credit Suisse as General Counsel for its Emerging Markets Group where he worked extensively with Russian and CIS borrowers and international investors. Between 1997 and 2010, he held senior positions at Credit Suisse First Boston and Merrill Lynch and was CEO of Troika Dialog's Kazakhstan office. Mr Turnbull has an M.A. in Law from St. John's College, Cambridge University.

Kevin van Wouw, CEO of Cradle Arc, commented:

"We are delighted to welcome James to the Board of Cradle Arc, bringing his legal, compliance and corporate finance skillset and experience and thereby rounding out and complementing the Board's existing financial and technical knowledge base. We firmly believe that James will provide valuable assistance with the Company's future development, particularly as we undertake and complete the current remedial actions at the processing plant and focus on commercial growth. We would like to acknowledge our appreciation of the services of both Oscar and Michael and their valuable contributions, and wish them all the best with their future endeavours."

James Henry Middleton Turnbull (aged 50)

 
 Current Directorships / Partnerships     Past Directorships / Partnerships 
                                           (last 5 years) 
 Downs Syndrome Diamond Foundation        JHMT Consulting Limited 
  Limited 
 Mercantile General International         Milio International (UK) Limited 
  plc 
 Newmarket Property Limited               Milio Logistics Limited 
 North 33 Limited                         Tenebrae Records Limited 
 Red Savannah Enterprises Limited         The Hemam Foundation Limited 
 Thames Beach House Limited 
 The Tenebrae Choir 
 Tenebrae Choir Trading Limited 
 
 
 

Mr Turnbull does not have any interest in the Company's ordinary shares.

There is no other information that is required to be disclosed pursuant to paragraph (g) of Schedule Two of the AIM Rules for Companies.

**ENDS**

For further information on the Company, please visit www.cradlearc.com or contact:

 
 Cradle Arc plc                     Tel: [phone] 
  Kevin van Wouw 
  Roy Pitchford 
 
   Strand Hanson Limited              Tel: [phone] 
   James Spinney 
   Matthew Chandler 
   James Dance 
 
   SP Angel Corporate Finance         Tel: [phone] 
   LLP 
   Ewan Leggat 
   John Meyer 
 Tavistock Communications Limited   Tel: [phone] 
  Charles Vivian 
  Gareth Tredway 
 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

About Cradle Arc

AIM-quoted Cradle Arc plc is the 60 per cent. owner of the Mowana copper mine in Botswana, an operational open pit mine and processing facility located in the north-east of the country, approximately 120km northwest of Francistown.

The Company has an independent open pit ore reserve estimate (Proved and Probable JORC 2012) of 31.8 Mt at 1.17% Cu for 370,800 tonnes contained copper, based on a Dense Media Separation (DMS) mine plan.

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END

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November 02, 2018 08:44 ET (12:44 GMT)