Information  X 
Enter a valid email address

Archipelago Resource (AR.)

  Print      Mail a friend

Tuesday 13 January, 2009

Archipelago Resource

Directorate Change

RNS Number : 5733L
Archipelago Resources PLC
13 January 2009




Archipelago Resources Plc ('Archipelago' or the 'Company') is pleased to announce the appointment of Mr Patrick Alexander as a non executive director of the Company. Mr Alexander is the nominee of major shareholder Aurum Fund ('Aurum') in accordance with an investment agreement announced on 26 November 2008.

Patrick Morris Alexander, aged 55, is an Australian currently based in Indonesia with extensive government, banking and corporate experience. After a period with the Australian Embassy in Jakarta he was a Vice President with Chase Manhattan Bank in New YorkJakarta and Hong Kong. Mr Alexander currently holds a number of directorships with a coal gas and other Indonesian public companies (see below).  

The Board welcomes Mr Alexander as part of Aurum's commitment to assist the Company to meet its project development objectives. 

Mr Alexander holds, or has held, the following directorships within the five years prior to the date of this announcement:

Current directorships

Past directorships

Sound Oil Plc

Ephindo Ilthabi CBM Holdings Inc. (BVI)

Java Energy Ltd (BVI)

Mitra Energia Limited

Batavia Investment Management Ltd (BVI)

Coalgas Energy Ltd (Seychelles)

PT. Astra International 

PT. Astra Oto Parts

PT. Astra Agro Lestari

Archipelago confirms that there are no other matters requiring disclosure in relation to Rule 17 and Schedule 2(g) of the AIM Rules.

Also as part of the agreement with Aurum, Mr Barry Casson has tendered his resignation as a non executive director of the Company. The Board takes this opportunity to thank Mr Casson for the skills and efforts that he has brought to the Company since its formation and listing.  

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 (as option holder over a 100% interest in the Corplex tenements).


Further Info:    


Colin Loosemore, Managing Director, Archipelago Resources Plc.

Tel:    00-618-9364-8301


Ron Marshman / John Greenhalgh, Lothbury Financial

Tel:    020-7011-9411


Gerry Beaney / Fiona Kindness, Grant Thornton UK LLP

Tel:     020 7383 5100

This information is provided by RNS
The company news service from the London Stock Exchange