East West Resources PLC Completion of Disposal and Directorate Change (5798T)
December 14 2012 - 7:17AM
UK Regulatory
TIDMEWR
RNS Number : 5798T
East West Resources PLC
14 December 2012
East West Resources plc
("EWR" or the "Company")
Completion of Disposal and Directorate Change
East West Resourcesplc (AIM: EWR), the physical metals and
energy trader, announces that , following satisfaction of all
conditions precedent (including approval from the Financial
Services Authority), the Company has now completed the sale of the
whole of the issued share capital of its subsidiary, Ambrian Asset
Management Limited ("AAM").
Following completion of this sale, Nathan Steinberg has stepped
down from his position as Chairman of the Company and has resigned
from the boards of the Company and AAM with immediate effect.
Charles Crick, Non-Executive Director of the Company, will assume
the role of Chairman with immediate effect.
In addition, the Company announces that it was informed on 13
December 2012 that Sun Hung Kai & Co Limited has disposed of
its entire shareholding in the Company and no longer holds any
interest in the Company.
Following this disposal, Peter Curry has resigned as a Director
of the Company with immediate effect.
Commenting on the departures of Mr Steinberg and Mr Curry, Mr
Crick said:
"Nathan Steinberg has been associated with the Company for many
years and has been a much valued adviser. The Board is very
grateful for the considerable contribution which he has made to the
Company during this time. The Board also thanks Peter Curry for his
contribution to the Company whilst a Director. "
For further information please contact:
East West Resources plc
Roger Clegg, COO +44 (0)20 7634 4785
Cenkos Securities plc
Jon Fitzpatrick +44 (0)20 7397 8900
Neil McDonald +44 (0)131 220 6939
Notes to Editors:
EWR is primarily active in the physical trading of base metals
(primarily copper) and biofuel. It sources and supplies a variety
of commodities to end users all over the world. Supported by its
offices in London, Hamburg and Shanghai and a network of agents in
North and South America, Asia and the Middle East, EWR provides
producers and consumers with its marketing insight whilst
emphasizing the financing and risk management aspect of its trading
activities. EWR also holds and manages a number of equity
investments. EWR is quoted on the AIM section of the London Stock
Exchange under the ticker symbol EWR.
Further information on East West Resources plc is available on
the Company's website: www.ewrplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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