Arc Minerals Limited Board Appointment (6496A)
31 May 2019 - 4:00PM
UK Regulatory
TIDMARCM
RNS Number : 6496A
Arc Minerals Limited
31 May 2019
Arc Minerals Ltd / Epic: ARCM / Market: AIM / Sector: Mining
& Exploration
31 May 2019
Arc Minerals Ltd
('Arc Minerals' or the 'Company')
Board Appointment
Arc Minerals is pleased to announce the appointment of Rémy
Welschinger as a Non-Executive Director to the Board of Arc
Minerals as of today's date.
Mr Rémy Jaime Jacques-Henri Welschinger is the founder and
managing director of Limehouse Capital Limited, an investment
holding company specialising in natural resources projects. Up
until 2018, Mr Welschinger was Head of Commodities Sales in Europe
for Deutsche Bank. Prior to that, Rémy was an Executive Director in
the Fixed Income and Commodities division of Morgan Stanley in
London. Mr Welschinger is a graduate of Cass Business School,
London, with an MSc in Investment management.
Nick von Schirnding, Executive Chairman of Arc Minerals
commented:
"I take great pleasure in welcoming Rémy to the Board of Arc.
Remy brings significant experience to the Company and has been
instrumental with our last two financings in respect of introducing
family offices and institutions. As an experienced finance
executive in the resource sector we look forward to working with
Rémy as we execute our strategy to develop our highly prospective
projects."
The Company provides the following additional disclosure
relating to the appointment of Mr Rémy Welschinger as director of
Arc Minerals:
Mr Rémy Jaime Jacques-Henri Welschinger, aged 36 currently holds
or has held the following directorships and partnerships over the
last five years:
Current directorships and partnerships Past directorships
Limehouse Capital Limited
Limehouse Asset Management Limited N/A
-------------------
Mr Rémy Welschinger holds 11,514,844 ordinary shares of no par
value of the Company ("Ordinary Shares"), equivalent to 1.8% of the
issued ordinary share capital of Arc Minerals at the date of this
announcement, warrants over 2,444,446 Ordinary Shares exercisable
at 6.5p each and warrants over 5,000,000 Ordinary Shares
exercisable at a price of 4.5p each.
Except as disclosed in this announcement, neither the Company
nor Mr Rémy Welschinger are aware of any further disclosures that
are required in respect of the appointment of Mr Rémy Welschinger
under Rule 17 or paragraph (g) of Schedule Two of the AIM Rules for
Companies.
Contacts
Arc Minerals Ltd
Nick von Schirnding (Chairman) +44 (0) 20 7917 2942
SP Angel (Nominated Adviser
& Broker)
Ewan Leggat / Soltan Tagiev +44 (0) 20 3470 0470
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
Forward-looking Statements
This news release contains forward-looking statements that are
based on the Company's current expectations and estimates.
Forward-looking statements are frequently characterised by words
such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "suggest", "indicate" and other similar
words or statements that certain events or conditions "may" or
"will" occur. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that could cause
actual events or results to differ materially from estimated or
anticipated events or results implied or expressed in such
forward-looking statements. Such factors include, among others: the
actual results of current exploration activities; conclusions of
economic evaluations; changes in project parameters as plans
continue to be refined; possible variations in ore grade or
recovery rates; accidents, labour disputes and other risks of the
mining industry; delays in obtaining governmental approvals or
financing; and fluctuations in metal prices. There may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. Any forward-looking statement
speaks only as of the date on which it is made and, except as may
be required by applicable securities laws, the Company disclaims
any intent or obligation to update any forward-looking statement,
whether as a result of new information, future events or results or
otherwise. Forward-looking statements are not guarantees of future
performance and accordingly undue reliance should not be put on
such statements due to the inherent uncertainty therein.
Notes to the Editors
Arc Minerals is an AIM listed exploration and mine development
company focused on a diversified portfolio of mining projects with
interests in Slovakia, Eritrea, the Democratic Republic of the
Congo and Zambia.
ARC Minerals current holdings include:
-- 100% interest in CASA Mining Limited, a private company that
has a 71.25% interest in the 3-million-ounce inferred Resource
Akyanga gold deposit in the DRC.
-- A 66% equity interest in Zamsort Limited ("Zamsort"), a
private company focused on a prospective copper and cobalt licence
in the Zambia Copperbelt, together with a convertible loan to
Zamsort which converts into approximately a five percent additional
equity interest in Zamsort.
-- 100% ownership of the Kremnica Mining Licence Area in
Slovakia which host the 1.3Moz AuEq Au PFS stage turec Gold
Project.
For more information visit www.arcminerals.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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