IronRidge Resources Limited – Corporate Update / Board Change

IronRidge Resources Limited – Corporate Update / Board Change

The Board of IronRidge Resources Limited (“IronRidge” or the “Company”), the African focussed minerals exploration company, announces that Mr Kenichiro Tsubaki (“Ken Tsubaki”) is retiring from the board as a Non-Executive Director and that Mr Tetsunosuke Miyawaki (“Teddy Miyawaki”) will succeed Ken Tsubaki as Non-Executive Director with immediate effect.

 

Teddy, who has to date acted as the Alternate Director for Mr Tsubaki, formally joins the Board as part of the Company’s strategic alliance with Sumitomo Corporation (“Sumitomo”), a global conglomerate which has a 10.2% interest in IronRidge.  Teddy brings to IronRidge extensive experience in strategic development, operational and corporate development, which will be essential for developing the Company’s assets throughout Africa. 

 

Teddy joined Sumitomo Corporation in 1998 and has held several key roles including investment business development and commodity trading for various divisions within the Sumitomo group.

Teddy holds a BEc Economics from Hitotsubashi University Japan and, having worked and resided in Johannesburg for some five years, brings with him a wealth of knowledge and experience in operating in various African jurisdictions.

 

Mr Thomas Ueda will once again join the Company’s Board as the Alternate Director for Mr Miyawaki. Mr Ueda was originally appointed by IronRidge’s board as a nominated Director for Sumitomo Corporation between 26 May 2015 and 31 March 2016.

 

Commenting, CEO Vincent Mascolo said:

 

“We are delighted to welcome Teddy Miyawaki to IronRidge’s Board. He brings a wealth of experience in strategic advisory and, ultimately, business growth and development throughout Africa.  His insights and expertise will be highly valuable and comes at a compelling time for the Company, as we seek to develop and enhance our portfolio of projects.

 

“At the same time, the Directors of the Company would like to extend their sincere thanks to Ken Tsubaki for his contribution to date.  Ken has been a highly valued member of the IronRidge Board and the entire Company has benefited from his knowledge and counsel during the transition from explorer to developer.”

 

The information required by Rule 17 and paragraph (g) of Schedule 2 of the AIM Rules for Companies in relation to the appointment of Mr Tetsunosuke Miyawaki (age 44) is as follows:

 Current directorships

Past directorships held within last five years

Sakura Ferroalloys Sdn Bhd*

None.

*Alternate Director

Mr Miyawaki does not currently hold any shares in the Company. There are no other disclosures required in accordance with Schedule 2(g) of the AIM Rules.

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