TIDMACP

RNS Number : 3133T

Armadale Capital PLC

24 March 2021

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

Armadale Capital Plc

('Armadale' or 'the Company')

Board Change

Armadale Capital plc, the AIM quoted investment group focused on natural resource projects in Africa, announces that Amne Suedi has resigned from the board of directors of the Company with effect from 31 March 2021 in order to focus on other business opportunities. Ms. Suedi has offered to make herself available for consultation with the Company over the coming months in order to ensure an orderly transition.

Armadale Chairman, Nick Johansen, commented:

"We thank Amne for her hard work and guidance during her tenure as an Armadale director and wish her well for the future."

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 / Teddy Whiley      +44 (0) 20 7220 0500 
Joint Broker: SI Capital Ltd 
 Nick Emerson                            +44 (0) 1483 413500

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 .

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END

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March 24, 2021 03:35 ET (07:35 GMT)

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