Armadale Capital Plc (LON:ACP) Directorate change

Armadale Capital plc (LON: ACP), the AIM-quoted investment group focused on natural resource projects in Africa, announces that Paul Johnson will step down from the Board effective from 30 November 2019 in order to pursue other business interests.

It is intended that Mr. Johnson will be replaced as Non-Executive Director on the Board by Mr. Gerrard (Ged) Hall subject to satisfactory completion of regulatory due diligence.

Mr. Hall is a senior finance professional with a strong background in asset management and financing gained from working with blue-chip investment banks including JP Morgan and UBS over the past 20 years. He is currently is a senior investment manager with SI Capital, based in London, and has also spent time working in the Middle East with Saudi National Commercial Bank Bahrain and Strategic Banking Solutions Bahrain. Mr. Hall holds an MBA and MSc in Financial Management from Edinburgh Business School.

During his career, Mr. Hall has managed multi-million-pound portfolios of equity products and fixed income instruments; this experience will prove invaluable for optimising finances for large scale developments undertaken by the Company. Having already introduced several high net worth investors and a family office to the shareholder register of the Company, Mr. Hall is a strong supporter of Armadale and his extensive capital markets experience will play a key role for the Company as it transitions to development financing.

Nick Johansen Director of Armadale said: “Firstly, I would like to thank Paul for his important work during 2019 and appreciate it is now time for him to focus on his other business interests. Secondly, I look forward to welcoming Ged, who will join our team at an exciting time as we continue to push our Mahenge graphite project from exploration to production. In this regard, I anticipate further updates to the market in due course.”

A further announcement will be made in due course with relevant regulatory disclosures regarding Mr. Hall.

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

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