Namibian Resources PLC Resignations of directors (2372B)

TIDMNBR

RNS Number : 2372B

Namibian Resources PLC

28 February 2014

NAMIBIAN RESOURCES PLC ("NAMIBIAN" or "THE COMPANY")

RESIGNATIONS OF DIRECTORS

The Company announces the resignations from the board of Lord Sheppard of Didgemere and Tony Carlton with effect from 1 March 2014. These resignations have been triggered by health problems which mean that neither is able to travel to Southern Africa where the Company's operations are based.

Following these resignations, Brian Moritz will assume the responsibilities as Chairman of the Company. Operational management will continue to be undertaken by David Johnson and Mike Solomon.

The loans made to the Company by Lord Sheppard and Mr Carlton, which are interest free, will not be repaid, and will be converted to ordinary shares as soon as possible without giving rise to a breach of Rule 9 of the City Code on Takeovers and Mergers.

The board of Namibian would like to thank Allen Sheppard and Tony Carlton for their considerable contribution to the Company and to wish them well for the future

Enquiries:

 
 Brian Moritz,                               Tel: 07976 994300 
  Director, Namibian Resources Plc 
 Colin Aaronson/Jen Clarke                   Tel: 0207 383 5100 
  Grant Thornton UK LLP, Nominated Adviser

This information is provided by RNS

The company news service from the London Stock Exchange

END

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