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Board Appointments and Issue of New Ordinary Shares - Anglo Pacific Group

Anglo Pacific Group PLC (“Anglo Pacific”, the “Company”) (LSE: APF) (TSX: APY) announces the appointment of Julian Treger as Chief Executive Officer and Mark Potter as Chief Investment Officer of the Company with immediate effect.  The appointment includes their election onto the Board of Anglo Pacific. Julian Treger and Mark Potter will succeed John Theobald and Chris Orchard, who are also to retire from the Anglo Pacific Board, in their respective roles.
Between them, Julian Treger and Mark Potter have over 35 years of experience in special situations investing and corporate finance advisory, with a principal focus on the natural resources sector.  Most recently they have served as the principals of Audley Capital Advisors LLP (“Audley”), an investment advisory firm, managing value-orientated, special situations investment strategies through hedge fund and co-investment vehicles.  Audley’s flagship European Opportunities Fund, a long-biased hedge fund investing in value-impaired listed equities, has had a strong track record in the mining sector.
In conjunction with the Board changes, the Company is pleased to announce an issue of 1,282,049 new ordinary shares at a price of 195 pence per share totalling £2.5 million.  A trust, of which Julian Treger is a beneficiary, has subscribed for 897,435 shares in the issue and a private investment company in which Julian Treger has a 44.3% shareholding has subscribed for 333,333 shares. Mark Potter has subscribed for 51,281 shares in the issue.  Currently, neither Julian nor Mark has a beneficial interest in any ordinary shares of the Company.
 
Brian Wides, Chairman of Anglo Pacific, commented: “I would like to take this opportunity to thank John Theobald and Chris Orchard for their invaluable contribution to the growth of our company during the last few years. On behalf of the Board and all of our staff, we wish them well for the future. In joining our team, Julian and Mark bring a strong track record of successful investing in the mining sector and a level of financial expertise that will be of substantial benefit to Anglo Pacific’s current portfolio of royalty investments and to future activity. This is an exciting time for the Company and I am confident they will be able to lead the company successfully during its next phase of growth.”
 
Julian Treger, incoming Chief Executive Officer, commented: “This is an opportunity to create a leading international mining royalty investment company with a focus on yield and return, and comes at an opportune time given the expected recovery in commodity prices over the medium and long-term. The existing portfolio provides a solid asset base on which to grow royalty and dividend income to the benefit of Anglo Pacific shareholders.”
 
John Theobald, outgoing Chief Executive Officer, commented: “Chris Orchard and I are pleased to have seen Anglo Pacific grow its portfolio of royalty investments during our tenure, despite the difficult macroeconomic environment.  We feel there are great opportunities to continue this growth and are delighted to hand over with confidence to Julian and Mark.”
In accordance with LR 9.6.13, a summary of the public company Directorships held by Julian Treger and Mark Potter over the last 5 years are provided below.

Julian Treger
Current
Firestone Diamonds Ltd
Whetstone Minerals Ltd
 
Last 5 years
Blackstar Investors plc
BNB Recruitment Solutions plc
JAB Holdings Limited
West African Diamonds plc
Western Coal Corp
Mr Treger resigned as a director of BNB Recruitment Solutions plc (“BNB Recruitment”) in March 2009, before administrators were appointed in July 2009. BNB Recruitment is currently undergoing a Creditors’ Voluntary Liquidation.
Mark Potter
None
In accordance with the Listing Rules, there are no additional matters that would require further disclosure under LR 9.6.13 in relation to the appointments.
The new shares will rank pari passu in every respect with the existing issued ordinary shares of the Company. Applications will be made to the UK Listing Authority, the London Stock Exchange and the Toronto Stock Exchange for the new shares to be admitted to the Official List.  Subject to these applications being accepted by the UK Listing Authority, the London Stock Exchange and the Toronto Stock Exchange, the Company advises that its issued share capital will comprise of 110,887,425 ordinary shares of 2p each. The voting rights of all of these shares are identical with each share carrying the right to one vote. The Company holds no shares in treasury. Therefore, the Company’s total number of voting rights will be 110,887,425. This figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules.
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