South African Property Opps PLC Change of Board (7310N)

TIDMSAPO

RNS Number : 7310N

South African Property Opps PLC

11 May 2018

South African Property Opportunities plc

(incorporated and registered in the Isle of Man under the Isle of Man Companies Act 2006 with registered number 006491V)

('the Company')

Board Changes and Appointment of Broker

Following receipt of written resolutions from shareholders holding approximately 81 per cent of the issued shares in the Company, Michael Langoulant and John Treacy have been appointed as Directors to the Company with immediate effect. In addition, David Hunter, John Chapman, Craig McMurray and David Saville have all stepped down from the Board, again with immediate effect.

Mr Langoulant, an Australian resident, is a Chartered Accountant with over 30 years' experience in public company corporate administration and fundraising. After 10 years with large international accounting firms he has acted as chairman, finance director, CFO, company secretary and non-executive director with a number of publicly listed companies. In conjunction with serving in those positions he has managed a corporate secretarial and accounting services business for almost 25 years. He is currently Executive Chairman of White Cliff Minerals Limited (ASX:WCN).

Mr Treacy is a London-based experienced small cap financier who specialises in working with growing companies. He qualified as a solicitor in the London office of a major international law firm where he specialised in Capital Markets and Mergers & Acquisitions. From there he moved to practice corporate finance in the advisory teams of several prominent UK brokerages where he acted as an adviser to a number of AIM companies and advised on numerous IPOs, acquisitions, debt restructurings and placings.

Following the termination of the appointment of the Company's former nominated adviser ('Nomad') and broker, announced on 2 May 2018, the Company's shares were suspended from trading on AIM pursuant to AIM Rule 1.

The Board of the Company is pleased to announce that it has today appointed Peterhouse Corporate Finance Limited as its Corporate Broker with immediate effect.

Further AIM disclosures relating to Mr Treacy's appointment are set out below:

Further disclosures on Mr Treacy as required under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies are as follows. John Michael Treacy (age 36), has held the following directorships and/or partnerships in the past five years:

 
 Current and Pending            Past: 
-----------------------------  -------------------------- 
 Epsion Capital Limited         China Sports Development 
                                 Limited 
 Monreal plc                    Central Rand Gold Limited 
  Pineapple Power Corporation 
  plc 
 
 

As at the date of this announcement, Mr Treacy does not have any interest in any ordinary shares of the Company. There is no further information to be disclosed in relation to Mr Treacy's appointment pursuant to AIM Rule 17 or paragraph (g) of Schedule Two of the AIM Rules for Companies.

Further AIM disclosures relating to Mr Langoulant's appointment are set out below:

Further disclosures on Mr Langoulant as required under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies are as follows. Michael (Mike) James Langoulant (age 61), has held the following directorships and/or partnerships in the past five years:

 
 Current and Pending          Past: 
---------------------------  -------------------------- 
 LB-Shell PLC                 Property Connect Holdings 
  Lanza Holdings Pty Ltd       Ltd 
  Tigerbite Pty Ltd            Nyota Minerals Ltd 
  Dampier Resources Pty        KEC Exploration Pty Ltd 
  Ltd                          Luiri Gold Ltd 
  Paradise Holdings Ltd        Luiri Gold Australia Pty 
  OTR Tryes Group Ltd          Ltd 
  Tyre Brokers Group Ltd       Lyndhouse Pty Ltd 
  White Cliff Minerals Ltd 
  Charge Cobalt Pty Ltd 
  Northern Drilling Company 
  Pty Ltd 
  PB Malaysia Ltd 
  Venture Exploration Pty 
  Ltd 
  Petrus Resources Pty Ltd 
  Resolute Amansie Ltd 
  Haulover Investments Ltd 
  Domo Pty Ltd 
  Mospey Pty Ltd 
                              Australian Forestry Fund 
                               Pty Ltd 
                               Auminco Mines Ltd 
                               Auminco CoalPty Ltd 
                               Bold Resources Pty Ltd 
                               PB Partners Pty Ltd 
 
 

As at the date of this announcement, Mr Langoulant does not have any interest in any ordinary shares of the Company.

Mr Langoulant was a director of Max Resources Ltd from approximately 1994 to 1997. Although solvent at the time a Statutory Manager was appointed to the company in 1998. The company was subsequently liquidated. Although the Statutory Manager made some negative comments concerning the administration of the company neither the Statutory Manager nor the liquidator levelled any case of wrong doing against Mr Langoulant. Further at a subsequent trial in relation to the company's Australian subsidiary, Robregal Investment Pty Ltd, the trial judge determined that Mr Langoulant had no case to answer.

There is no further information to be disclosed in relation to Mr Langoulant's appointment pursuant to AIM Rule 17 or paragraph (g) of Schedule Two of the AIM Rules for Companies.

For further information please visit www.saprofund.com or contact:

 
                  South African Property    [phone] 
 John Treacy       Opportunities plc         0930 
===============  ========================  ================ 
 Lucy Williams    Peterhouse Corporate      [phone] 
  Heena Karani     Finance Limited           0933 
===============  ========================  ================ 
 

**ENDS**

This information is provided by RNS

The company news service from the London Stock Exchange

END

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May 11, 2018 02:00 ET (06:00 GMT)