Board Appointment

LONDON--()--

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Armadale Capital Plc / Index: AIM / Epic: ACP / Sector: Investment Company

Armadale Capital Plc (‘Armadale’ or ‘the Company’)

Board Appointment

Armadale Capital plc (LON: ACP), the AIM quoted investment group focused on natural resource projects in Africa, is pleased to announce the appointment of Mr. Matt Bull to the board of the Company as Non-Executive Director with immediate effect.

Mr. Bull has served as Technical Director of the Company since 2016 and has led the development of the Mahenge Liandu Graphite Project in Tanzania during that time.

Mr. Bull is an experienced geologist responsible for managing numerous exploration projects in remote locations in Australia and Sub-Saharan Africa including the running of multi-rig drilling programs with large support teams.

Nick Johansen Chairman of Armadale said: “I am delighted to welcome Matt to the board. Having served as Technical Director since 2016, during which time he has rapidly advanced Mahenge Liandu and established it as a long-life low-cost graphite project with a US$358m NPV and IRR of 91%, he is undoubtedly ideally qualified for this new role as Non-Executive Director. We look forward to leveraging his experience at board level as the Company transitions to emerging producer in the coming years.”

AIM Rules for Companies, Schedule 2(g) Disclosures

The information required to be disclosed pursuant to Schedule 2(g) of the AIM Rules for Companies in relation to the appointment of Mr. Matthew Norman Bull, aged 38, as Non-Executive Director of the Company is as follows:

Current Directorships/Partnerships   Directorships/Partnerships held in the last five years
Castillo Copper Ltd EON Pty Ltd
International Grahpite Pty Ltd Volt Resources Ltd
Lindian Resources Ltd Kisenge Mining Pty Ltd
MB Exploration Pty Ltd  
Paterson Resources Ltd  
Trilogy Metals Pty Ltd  

Mr. Bull holds 33,202,792 ordinary shares in the capital of the Company representing 8.17 per cent. of the Company’s total voting right.

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

**ENDS**

Enquiries:  
Armadale Capital Plc

Nick Johansen, Non-Executive Director

Tim Jones, Company Secretary

+44 (0) 20 7236 1177
Nomad and broker: finnCap Ltd

Christopher Raggett / Edward Whiley

+44 (0) 20 7220 0500
Joint Broker: SI Capital Ltd

Nick Emerson

+44 (0) 1483 413500
Press Relations: St Brides Partners Ltd

Charlotte Page / Beth Melluish

+44 (0) 20 7236 1177

Notes

Armadale Capital Plc is focused on investing in and developing a portfolio of investments, targeting the natural resources and/or infrastructure sectors in Africa. The Company, led by a team with operational experience and a strong track record in Africa, has a strategy of identifying high growth businesses where it can take an active role in their advancement.

The Company owns the Mahenge Liandu graphite project in south-east Tanzania, which is now its main focus. The Project is located in a highly prospective region with a high-grade JORC compliant Indicated and inferred mineral resource estimate of 59.48Mt @ 9.8% TGC, making it one of the largest high-grade resources in Tanzania, and work to date has demonstrated Mahenge Liandu’s potential as a commercially viable deposit with significant tonnage, high-grade coarse flake and near surface mineralisation (implying a low strip ratio) contained within one contiguous ore body.

Other assets Armadale has an interest in, include the Mpokoto Gold project in the Democratic Republic of Congo and a portfolio of quoted investments.

More information can be found on the website www.armadalecapitalplc.com.

Short Name: Armadale Capital Plc
Category Code: MSCU
Sequence Number: 698011
Time of Receipt (offset from UTC): 20200424T103218+0100

Contacts

Armadale Capital Plc

Contacts

Armadale Capital Plc