Appointment of Non-executive Director and Direc...
African Consolidated Resources plc / Ticker: AFCR / Index: AIM / Sector: Mining
24 April 2013
African Consolidated Resources plc ('ACR' or 'the Company')
Appointment of Non-executive Director and Director's Dealings
African Consolidated Resources plc, the AIM listed resource development company, is pleased to announce the appointment of Mr. Neville Nicolau as Non-executive Director with immediate effect. Mr. Nicolau, who most recently held the position of Chief Executive Officer of Anglo American Platinum Limited ('Amplats'), the world's largest platinum producer, brings extensive operational experience to the Board as it furthers its strategy of becoming a mid-tier multi-commodity development and mining company.
Mr. Nicolau, who has a degree in Mining Engineering from the University of Johannesburg and an MBA from the University of Cape Town, has had a career spanning 34 years in the mining industry. Having held high profile positions in international mining companies including Anglo American and AngloGold Ashanti, Mr. Nicolau has managed the development of numerous production assets across many jurisdictions in Africa, South America, the United States and Australia.
In his most recent role as Chief Executive Officer of Amplats, Mr. Nicolau was responsible for the production of approximately 40% of the world's newly mined platinum. Through his position on the Executive Committee of Anglo American plc, Mr. Nicolau was also instrumental in the development of numerous projects in diverse asset classes across the globe. As Chief Operating Officer of AngloGold Ashanti, the world's third largest gold producer with an annual production of around 5.5 million ounces, Mr. Nicolau was responsible for operations worldwide.
ACR Chief Executive Officer Craig Hutton said, "Neville is a highly experienced and respected mining professional, who brings an enormous breadth of knowledge to the ACR team at this critical time in our evolution into a development and mining company. His previous incarnations as Chief Executive Officer of Anglo American Platinum and Chief Operating Officer of AngloGold Ashanti give him an exceptional insight into the development of a resource company, and we hope to use this to leverage our position into a mid-tier multi-commodity production company. In addition to providing invaluable operational expertise, Neville's strong network of contacts with industry leaders will also be highly significant as we look to expand ACR's mineral footprint, acquiring additional quality assets through which to generate value for our shareholders."
Director Dealings
Pursuant to Mr. Nicolau's appointment as Non-executive Director, the Company has awarded, on 24 April 2013, 2,000,000 options over ordinary shares of 1p each in the capital of the Company ('Options') to Mr. Nicolau. The Options are exercisable at any time until 31 March 2016 at a price of 4 pence each, conditional upon Mr Nicolau's continued employment as a director of the Company to 31 December 2014.
Regulatory Information
Neville Francis Nicolau, aged 53, currently holds or has held the following directorships and partnerships in the last five years:
| Current Directorships | Directorships held in the last five years |
| n/a | Anglo American Platinum Limited |
| Anglo American South Africa Limited | |
| Anglo Platinum Management Services (Proprietary) Limited | |
| Rustenburg Platinum Mines Limited |
There are no further disclosures to be made in relation to Neville Nicolau pursuant to Schedule Two, paragraph (g) of the AIM Rules for Companies.
**ENDS**
For further information visit www.acrplc.com or please contact:
Roy Tucker African Consolidated Resources plc +44 (0) 1622 816918
+44 (0) 7920 189012
Craig Hutton African Consolidated Resources plc +27 (0) 716 796 933
Andrew Godber Panmure Gordon (UK) Limited +44 (0) 207 886 2500
Callum Stewart Panmure Gordon (UK) Limited +44 (0) 207 886 2500
Adam James Panmure Gordon (UK) Limited +44 (0) 207 886 2500
Susie Geliher St Brides Media & Finance Ltd +44 (0) 20 7236 1177
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: African Consolidated Resources Plc via Thomson Reuters ONE
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