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East West Resources (AMBR)

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Friday 14 December, 2012

East West Resources

Completion of Disposal and Directorate Change

RNS Number : 5798T
East West Resources PLC
14 December 2012

East West Resources plc


("EWR" or the "Company")


Completion of Disposal and Directorate Change


East West Resourcesplc (AIM: EWR), the physical metals and energy trader, announces that , following satisfaction of all conditions precedent (including approval from the Financial Services Authority), the Company has now completed the sale of the whole of the issued share capital of its subsidiary, Ambrian Asset Management Limited ("AAM"). 


Following completion of this sale, Nathan Steinberg has stepped down from his position as Chairman of the Company and has resigned from the boards of the Company and AAM with immediate effect. Charles Crick, Non-Executive Director of the Company, will assume the role of Chairman with immediate effect.


In addition, the Company announces that it was informed on 13 December 2012 that Sun Hung Kai & Co Limited has disposed of its entire shareholding in the Company and no longer holds any interest in the Company.


Following this disposal, Peter Curry has resigned as a Director of the Company with immediate effect.


Commenting on the departures of Mr Steinberg and Mr Curry, Mr Crick said:


"Nathan Steinberg has been associated with the Company for many years and has been a much valued adviser.  The Board is very grateful for the considerable contribution which he has made to the Company during this time. The Board also thanks Peter Curry for his contribution to the Company whilst a Director. "


For further information please contact:


East West Resources plc

Roger Clegg, COO                                            +44 (0)20 7634 4785


Cenkos Securities plc                                                     

Jon Fitzpatrick                                                   +44 (0)20 7397 8900

Neil McDonald                                                  +44 (0)131 220 6939



Notes to Editors:


EWR is primarily active in the physical trading of base metals (primarily copper) and biofuel. It sources and supplies a variety of commodities to end users all over the world. Supported by its offices in London, Hamburg and Shanghai and a network of agents in North and South America, Asia and the Middle East, EWR provides producers and consumers with its marketing insight whilst emphasizing the financing and risk management aspect of its trading activities. EWR also holds and manages a number of equity investments. EWR is quoted on the AIM section of the London Stock Exchange under the ticker symbol EWR.


Further information on East West Resources plc is available on the Company's website:

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

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