Archipelago Resources PLC Result of AGM, Result of GM and Directorate Change (9016F)
30 May 2013 - 9:05PM
UK Regulatory
TIDMAR.
RNS Number : 9016F
Archipelago Resources PLC
30 May 2013
30 May 2013
AIM: AR.
Archipelago Resources plc
("Archipelago" or "the Company")
Result of AGM, Result of General Meeting and Directorate
Change
Archipelago announces that at the Annual General Meeting
("AGM"), which was held earlier today, all resolutions were duly
approved by shareholders.
Accordingly, as outlined in the announcement of the Company's
Annual Results on 11 March 2013, the proposed reduction in the
Company's share premium account should take effect if confirmed by
the High Court and upon the order of the High Court being lodged
with, and registered by, the Registrar of Companies. This is
expected to take place on 19 or 20 June 2013, following which the
Company will be in a position to inform shareholders of the precise
record date and payment date of the proposed dividend payment.
Archipelago also announces that at the General Meeting ("GM") of
shareholders, which was held following the conclusion of today's
AGM, the resolutions to appoint Mr Colin Sutherland and Mr Darjoto
Setyawan as directors of the Company were duly passed. The Board of
Directors of Archipelago is therefore pleased to announce the
appointment of Mr Colin Sutherland as Chief Executive Officer and
Managing Director and Mr Darjoto Setyawan as Non-Executive Director
with immediate effect.
Mr Colin Paul Sutherland (aged 42) has extensive experience
across all aspects of financial management. Prior to joining
Archipelago, Mr Sutherland was Chief Financial Officer for Timmins
Gold Corporation. Previously, he acted as Chief Financial Officer
for Aurico Gold, Inc. and Mexgold Resources, Inc. In addition to
financial management roles, Mr Sutherland acted as President and
CEO for Nayarit Gold, Inc. and then Capital Gold Corporation
between 2007 and 2011. He has also held senior roles with Royal
Bank of Canada, Pricewaterhouse Coopers and Deloitte & Touche.
He is a Chartered Accountant and holds a Bachelor of Business
Administration.
Mr Sutherland currently holds, and has held (including all
appointments during the five years preceding the date of this
announcement), the following directorships and partnerships, other
than of the Company:
Current Directorships / Partnerships Past Directorships / Partnerships
(in the last 5 years)
------------------------------------ ---------------------------------
Telegraph Gold Corp Capital Gold Corp
Nayarit Gold Inc
------------------------------------ ---------------------------------
Archipelago confirms that there are no other matters requiring
disclosure in relation to Rule 17 and Schedule 2(g) of the AIM
Rules.
Mr Darjoto Setyawan (aged 55) has more than 17 years of
experience in the mining industry. He has been employed with the
Rajawali Group since 1996 and has held the role of Managing
Director - Mining and Resources since 2005. He was the President
Director of the Bentoel Group, a subsidiary of Rajawali, from 1996
to 2006 and continued from 2006 to 2009 as the President
Commissioner of the Bentoel Group. Mr Setyawan is also responsible
for Rajawali's external relations including those related to
Government officials and agencies. He has also served as a member
of the board on a number of companies where the Rajawali Group has
an interest, including PT. Nusantara Infrastructure and the Semen
Gresik Group.
Mr Setyawan has a Bachelor of Science degree in Mathematics and
Natural Science from the Bandung Institute of Technology and Mater
of Management from Prasetiya Mulya Institute of Management.
Mr Setyawan currently holds, and has held (including all
appointments during the five years preceding the date of this
announcement), the following directorships and partnerships, other
than of the Company:
Current Directorships / Partnerships Past Directorships / Partnerships
(in the last 5 years)
------------------------------------ ---------------------------------
PT Rajwali Corporation
Indomines Ltd
------------------------------------ ---------------------------------
Archipelago confirms that there are no other matters requiring
disclosure in relation to Rule 17 and Schedule 2(g) of the AIM
Rules.
Stephen Sulistyo, Chairman of Archipelago, said:
"I take this opportunity to welcome Colin and Darjoto to the
Board of Archipelago. I am sure the will make a valuable
contribution to our growth strategy".
FURTHER INFORMATION
Archipelago Resources
plc
President - Corporate
Strategy +44 20 7523
Matthew Salthouse +65 6535 3419 8000
--------------------------- ---------------- ---------------------- ------------
Canaccord Genuity
Limited
Joint Broker
Andrew Chubb
Christopher Fincken
--------------------------- ---------------- ---------------------- ------------
Grant Thornton Corporate
Finance
NOMAD
Gerry Beaney
Philip Secrett +44 20 7383
David Hignell 5100
--------------------------- ---------------- ---------------------- ------------
Liberum Capital
Buchanan Limited
Corporate Communication Joint Broker
Bobby Morse +44 20 7466 Michael Rawlinson +44 20 3100
Gordon Poole 5000 Christopher Kololian 2000
--------------------------- ---------------- ---------------------- ------------
ABOUT ARCHIPELAGO
Archipelago is a producing mining company listed on the AIM
market of the London Stock Exchange. Archipelago's vision is to
grow into a respected and regionally dominant mid-cap gold
producer, managing a portfolio of gold mines and delivering
significant value and returns for our shareholders. Archipelago's
principal activities are gold mining and exploration in Indonesia
(as the 95% owner of the producing Toka Tindung Gold Mine in North
Sulawesi, Indonesia). In 2013, Archipelago expects to produce
between 140,000 and 155,000 Au Eq oz at a cash cost of between
US$620 and US$680 per ounce (net of silver credits).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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