20 March
2020
ALTONA ENERGY PLC
(“Altona” or “the Company”)
Directorate
Change
The Board of Altona (Aquis Growth Market: ANR.PL), a mining
exploration company in South
Australia, announces the resignation of Qinfu Zhang with
immediate effect.
Mr Zhang, who from 2015 served as the Executive Chairman of
Altona is stepping down from the Board and as a Director of Altona,
to pursue his other business interests in China, which have been affected by the
Covid-19 virus.
The Company is looking to appoint a new Executive Chairman or
CEO, should its current fund-raising project be successful but, in
the meantime, non-Executive Director, Christian Taylor-Wilkinson, is appointed as
Interim CEO.
Christian Taylor-Wilkinson,
Interim CEO of Altona, commented, “We wish to thank Mr Zhang
for his contribution to the board over the past five years and wish
him every success in these difficult economic times.
“We are focusing on strengthening the board so as to be able to
execute our In-Situ Gasification strategy on mining tenement PELA
517. We are currently in discussions with a mining Technical
Director based in Australia and a
possible Executive Chairman/CEO located in London. These appointments will be made in
April, should we raise sufficient funds in the Open Offer.”
For further information, please visit www.altonaenergy.com or
contact:
Altona Energy
plc
Christian Taylor-Wilkinson, Interim CEO
Philip Sutherland, Non-Executive Director |
+44 (0) 7795 168 157
+61 (0)402 440 339 |
Alfred Henry
Corporate Finance Ltd (NEX Corporate Adviser)
Jon Isaacs / Nick Michaels |
+44 (0) 20 3772 0021 |
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Company Information
Altona is an exploration company focused on the evaluation,
development and extraction of coal assets in South Australia though the process of in-situ
gasification.
The Company was admitted to trading on AIM on 10 March 2005 and was subsequently admitted to
NEX (now Aquis Stock Exchange) on 1 February 2019. A copy of
its admission documents dated 4 March
2005 can be accessed on its website,
www.altonaenergy.com. This website is where items can be
inspected under Rule 75 of the Aquis Growth Market Rules for
Issuers, from 1 February 2019.