AR. Archipelago Res

 

TIDMAR. 
 
RNS Number : 0736U 
Archipelago Resources PLC 
08 October 2010 
 

                                  ANNOUNCEMENT 
 
                          ARCHIPELAGO  RESOURCES  PLC 
 
                             DECISION  to  RELOCATE 
                            MANAGEMENT  of  COMPANY 
                                       to 
                                    SINGAPORE 
 
 
At a Board Meeting held on the 6th October 2010 the directors of Archipelago 
Resources Plc ("Archipelago" or "the Company") agreed unanimously to relocate 
the management of the Company from Australia to Singapore with immediate effect. 
 This decision has been taken after careful review of the Company's modus 
operandi and recent and impending changes:- 
 
1)   Proximity and access to the Toka Tindung Gold Project in Sulawesi, 
Indonesia where gold production will commence in early 2011; 
 
2)   The Company's increasing activities at it's other South East Asian resource 
assets; 
 
3)   The recent change of majority ownership to Indonesian group Rajawali 
Corpora; 
 
4)   Impending changes to the composition and residency of members of the Board 
of Directors; 
 
5)   Optimising the corporate structure of the Group; 
 
6)   A more advantageous location for future M&A activity; 
 
7)   Proximity to major Asian capital markets; 
 
8)   The less than 1% Australian share ownership of the Company. 
 
 
Archipelago is a mining company listed on the AIM market of the London Stock 
Exchange.  The Company's principal activities are gold mining and exploration in 
Indonesia (as 85% owner of the Toka Tindung Gold Project in Sulawesi), Vietnam 
(as majority party in the Pac Lang and Cam Thuy/Ba Thuoc joint ventures with 
VINACOMIN a Vietnamese Government mining company) and the Philippines (via 
entitlement to not less than an 80% interest in exploration company Corplex). 
 
 
 
 
 
 
 
 
 
Further Info:          Colin Loosemore, Managing Director, Archipelago Resources 
Plc. 
                                Tel:         00-618-9364-8301 
 
                                Shaun Whyte, Ambrian Partners Ltd 
                                Tel:         020-7634-4700 
 
                                Justine James / Ron Marshman, Hansard 
Communications 
                                Tel:         020-7245 1100 
 
                                Gerry Beaney / Fiona Kindness, Grant Thornton 
Corporate Finance 
                                Tel:         020 7383 5100 
 
 
 
                        www.archipelagoresources.com.au 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCUGGRGUUPUGBM 
 

Archipelago Resources (LSE:AR.)
Historical Stock Chart
From Jun 2024 to Jul 2024

Archipelago Resources (LSE:AR.)
Historical Stock Chart
From Jul 2023 to Jul 2024