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Board changes and withdrawal of requisition

02 June 2015

Board changes

Withdrawal of Requisition of General Meeting

 

As previously announced on 11 February 2015, the Board of West African Minerals Corporation received a requisition (the "Requisition") from Beaufort Nominees Limited ("Beaufort") requesting that the Company convene a general meeting of shareholders of the Company to consider various resolutions to change the composition of the Board of Directors. 

 

The Company has made the following Board changes and Beaufort has agreed to withdraw the Requisition.

 

Anton Mauve has stepped down as a director of the Company with immediate effect while continuing his operational role as president. The Board would like to thank him for his contribution on the Board over the last three years and looks forward to continuing to work with him in his operational role. 

 

In addition, Andrew Gutmann and Willy Simon have been appointed as non-executive directors of the Company with immediate effect.

 

The Board of the Company is now as follows:

 

Brad Mills

Chairman

James Mellon

Non-Executive Director

Gerard Holden

Non-Executive Director

Andrew Gutmann

Non-Executive Director

Willy Simon

Non-Executive Director

 

AIM Disclosures

 

Further disclosures on Andrew Gutmann and Willy Simon as required under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies are as follows:

 

Andrew Gutmann

Andrew Mark Gutmann, aged 45, is the head of Capital Markets at Beaufort International Associates Limited. He specialises in fundraising for small and micro-cap companies. He has worked for a number of institutions and has over 17 years' experience in the City. The directorships and / or partnerships held by Andrew Gutmann in the previous five years are as follows:

 

Current

Past

None

Tiziana Life Sciences Plc (formerly Alexander David Securities Plc)

 

There are no further disclosures in relation to Mr Gutmann pursuant to Schedule 2(g) of the AIM Rules for Companies.

 

Willy Simon

 

Willy Jules Simon, aged 64, is a banker and worked at Kredietbank N.V. and Citibank London before serving as an executive member of the Board of Generale Bank NL from 1997 to 1999 and as the Chief Executive of Fortis Investment Management from 1999 to 2002. He acted as chairman of Bank Oyens & van Eeghen from 2002 to 2004. From 2004 until 2012, he served as a non-executive director of Redi & Partners Ltd., a fund of funds. He was previously Chairman of AIM-traded Velox3 plc (formerly 24/7 Gaming Group Holdings plc) until 2015 and had been a director of Playlogic Entertainment Inc., a NASDAQ OTC listed company.

 

The directorships and / or partnerships held by Willy Simon in the previous five years are as follows:

 

Current

Past

A.I.A Ltd

Bever Holding N.V.

Velox3 Plc (formerly 24/7 Gaming Group Holdings plc)

Monldee Finance B.V.

24/7 Gaming Group N.V.

Nantucket Energy Limited

A.I.A BV Netherlands

 

Playlogic Entertainment Inc

 

 

There are no further disclosures in relation to Willy Simon pursuant to Schedule 2(g) of the AIM Rules for Companies.

 

 

For further information contact:

    

West African Minerals Corporation

Anton Mauve

President

 

+44 (0) 1624 639396

 

Beaumont Cornish Limited (Nominated Adviser)

Roland Cornish

Michael Cornish

 

+44 (0)20 7628 3396

SP Angel Corporate Finance LLP(Broker)

Ewan Leggat

 

+44 (0) 20 3470 0500