Sovereign Mines of Africa PLC Appointment of new Chief Executive Officer (4449N)

TIDMSMA

RNS Number : 4449N

Sovereign Mines of Africa PLC

26 October 2016

26 October 2016

Sovereign Mines of Africa PLC

("SMA" or "the Company")

Appointment of new Chief Executive Officer

Sovereign Mines of Africa PLC (AIM:SML), is pleased to announce the appointment of Mr. Rupert Street as the new Chief Executive Officer of the Company, with immediate effect. Rupert will also join the board of directors. Rupert has over 26 years of financial and industry experience and his appointment is in line with the Company's strategy to deliver near term shareholder value.

Rupert (48) is a former Officer in the British Army and is a highly experienced investment and frontier markets operator having run businesses for over 26 years across multiple geographies, with particular experience in Asia, Hong Kong and China. Throughout his career, Rupert has served as CEO across a range of companies, successfully building and growing Ptarmigan Eden Asset Management, a private Special Situations Company with significant experience in execution across global exchanges, private equity and venture capital investments supported by Credit Lyonnais Europe and UBS, a global commodities trading company and most recently Eugen de Buren, a resource focused Asia centric PE and Public Markets team, advising international resource companies and both regional and global PE equity funds.

Giles Clarke, Chairman of Sovereign Mines of Africa said:

"In Rupert we have secured a highly entrepreneurial individual and I'm delighted to welcome him to the Company. Rupert brings with him significant international experience of growing and scaling businesses across the globe and has a track record of aggressively driving growth and shareholder returns which fits well with the Company's culture. He joins us at a highly exciting time following an extensive strategic review of the business and his specific skills will be invaluable in executing our strategic plans. I and the rest of the board look forward to working with Rupert."

Rupert Street, CEO, said:

"I am very excited to be joining Sovereign Mines at this time and am looking forward to working closely with the existing management team. I look forward to utilizing the skills and network gained during my previous roles to help progress the Company through its imminent next phase."

Enquiries:

SOVEREIGN MINES OF AFRICA PLC

   Giles Clarke, Chairman - c/o Camarco                                  [phone] 

Rupert Street, CEO

SHORE CAPITAL - NOMINATED ADVISER & BROKER

Toby Gibbs - Corporate Finance

   Jerry Keen - Corporate Broking                                              [phone] 

CAMARCO

   Billy Clegg / Gordon Poole                                                      [phone] 

In relation to the appointment of Mr. Street, the Company confirms that there is no further information to be disclosed under paragraph (g) of Schedule 2 of the AIM Rules for Companies save as disclosed below:

Rupert Henry de Sinner Street, aged 48

 
 Current directorships       Previous directorships 
                              (past 5 years) 
 Aardbalm Limited            GPP HK Ltd 
  Ptarmigan and Eden Asset    Joland Technologies 
  Management Limited          Limited 
  Eugen de Buren Limited      Safemed Limited 
                              Fara Nor LTD 
                              Coventry Diagnostics 
                              Europe Limited 
                              Three Point One Four 
                              Limited 
 

On 29 April 2013, Aardbalm Limited, of which Rupert Street is a director, was placed into a company voluntary arrangement (CVA). The CVA completed on 24 August 2016. It is anticipated that Aardbalm Limited will now be placed into creditor's voluntary liquidation and subsequently dissolved.

This information is provided by RNS

The company news service from the London Stock Exchange

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October 26, 2016 02:00 ET (06:00 GMT)