Sovereign Mines of Africa PLC Appointment of Jeremy Sparrow to the Board (4184E)
18 July 2016 - 4:00PM
UK Regulatory
TIDMSMA
RNS Number : 4184E
Sovereign Mines of Africa PLC
18 July 2016
18 July 2016
Sovereign Mines of Africa PLC
("SMA" or "the Company")
Appointment of Jeremy Sparrow to the Board
Sovereign Mines of Africa PLC (AIM:SML), the gold mining
exploration Company with properties in the Republic of Guinea in
West Africa, is pleased to announce the appointment of Jeremy
Sparrow to its Board as a Non-executive Director, with immediate
effect.
A highly distinguished investment and financing professional,
Jeremy possesses over 25 years of extensive deal-making experience
across multiple geographies and has led equity teams that have
raised a combined total of over $23bn.
Jeremy was most recently Head of Investec Resource Investment
Banking for Asia and Australia. He was responsible for setting up
an integrated sales research and IB/ECM platform and oversaw the
raising of over US$1.5bn in just six months of operation. Prior to
Investec, Jeremy spent 12 years with Renaissance Capital, as a
Managing Director heading up Equity Products in New York and the UK
before becoming the CEO of Renaissance Capital Asia, where he
established the company's first Asian offices in Beijing and Hong
Kong. Jeremy has also served as a Vice President at Morgan Stanley,
where he was Head of EMEA distribution for the USA, and started his
career at American Express Bank.
Jeremy holds a BA (Hons) degree in International Relations and
Economics from Keele University.
Giles Clarke, Chairman of Sovereign Mines of Africa said:
"We are delighted to welcome someone of Jeremy's calibre to the
Board of Sovereign Mines of Africa. Jeremy brings over 25 years of
investment experience to the Company and his deep sector knowledge
and expertise will augment the board's existing skills and add
significant value ahead of our next stage of growth. We are
currently conducting a strategic review on the company's assets and
activities which may involve the pursuit of an acquisition and
Jeremy's arrival will only strengthen our capability to do so."
Enquiries:
SOVEREIGN MINES OF AFRICA PLC
Giles Clarke - c/o Billy Clegg +44 20 3757 6983
SHORE CAPITAL - NOMINATED ADVISER & BROKER
Toby Gibbs/Bidhi Bhoma - Corporate Finance
Jerry Keen - Corporate Broking +44 207 408 4090
CAMARCO
Gordon Poole / Sean Blundell +44 20 3757 6983
In relation to the appointment of Mr Sparrow, the Company
confirms that there is no further information to be disclosed under
paragraph (g) of Schedule 2 of the AIM Rules for Companies save as
disclosed below:
Jeremy Sparrow, aged 48
Current directorships Previous directorships
(past 5 years)
Alexander Capital Consultants Renaissance Capital
Limited Asia Limited
Alexander Capital Management
Limited
Chalet Holdings N.V.
J S Alex LLP
About Sovereign Mines of Africa
Sovereign Mines of Africa Plc is a mineral exploration company
incorporated in England and Wales and headquartered in London.
At the end of 2007, the founders of the Company saw an
opportunity to pool their collective expertise and experience in
order to form joint ventures for mineral exploration with
governments in Africa. The Republic of Guinea in West Africa was
identified as the first target and this ultimately gave rise to the
establishment of the Company in 2010.
The Company entered into a cooperative joint-venture with the
Government of Guinea (the "Sovereign Partnership Structure"),
pursuant to which the Government was granted an equity stake in
Sovereign Mines of Guinea, the operating company of the group. The
Directors believe that this collaborative approach gives the
Company unusual advantages compared with other small exploration
companies and as a result it has been able to acquire very highly
prospective properties, any of which could, in the Directors'
opinion, become a significant gold asset.
SMA has financed and managed the building of a preliminary
JORC-compliant inferred maiden gold resource of 610,000 ounces of
gold at its flagship Manadiana gold project where a relatively
small amount of drilling consisting of only 16,880 metres has
tested only 10 per cent of the potential strike gold project of the
gold mineralising system. SMA also has two other compelling
early-stage gold exploration projects in guinea called Dalagna and
Marela.
Sovereign Mines of Guinea is ultimately owned 75% by Sovereign
Mines of Africa plc and 25% by SOGUIPAMI, the Guinea Government
Mining Representative.
The project is held in SMG's 100% Guinea's subsidiary, GUIORD
SA.
This information is provided by RNS
The company news service from the London Stock Exchange
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