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Requisition of General Meeting

11 February 2015

The Board of West African announces that on 9 February 2015 the Company received a letter from solicitors acting on behalf of Panetta Partners Limited ("Panetta") which included a written requisition from Beaufort Nominees Limited (the "Requisition Letter") requesting that the Company convene a general meeting of shareholders ("General Meeting"), to consider the following resolutions:

 

1.    To remove the following persons as directors of the Company:

 

1.1  Gerard Holden; and

1.2  Anton Mauve,

 

  pursuant to regulation 8.5(a) of the Articles of Association of the Company ("Articles"); and

 

2.    To elect the following persons as directors of the Company:

 

2.1  Willy Simon;

2.2  Sanjiv Sangar; and

2.3  Andrew Gutmann,

 

pursuant to regulation 8.1 of the Articles.

 

Panetta's solicitor's letter further informed the Company that: (i) Beaufort Nominees Limited ("Beaufort") owns 117,466,234 shares in the Company, representing 31.18 per cent. of the Company's issued share capital; (ii) Panetta holds 50,186,142 shares in the Company; and (iii) together with Beaufort, their shareholding represents 44.5 per cent. of the issued share capital of the Company.

 

The Company is reviewing the terms of the Requisition Letter and, as appropriate, seeking further clarification from both Beaufort and Panetta.

 

A further announcement will be made in due course.

 

For further information contact:

    

West African Minerals Corporation

Anton Mauve

Managing Director

 

+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 3463 2260

 

ENDS