Director Declaration

RNS Number : 3741E

Condor Resources PLC

06 April 2011

 

6^th April 2011

Condor Resources plc ("Condor" or the "Company")

Board Appointment

Condor is pleased to announce today the appointment of James (Jim) Mellon to the Board, as a Non-Executive Director.

Jim Mellon, based in the Isle of Man, is a renowned fund manager. He began his career with GT Management in the US and in Hong Kong and later became the co-founder and managing director of Thornton Management (Asia) Limited based in Hong Kong. He is co-founder of Regent Pacific Group and Charlemagne Capital Limited. He is currently chairman of Manx Financial Group Plc, Speymill Plc, Speymill Deutsche Immobilien Company Plc, Webis Holdings plc, and Rivington Street Holdings plc, co-chairman of Regent Pacific Group Ltd and Emerging Metals Limited, a director of Charlemagne Capital Limited, Polo Resources Limited, Burnbrae Group Limited and various other investment companies. Mr Mellon holds a Master's Degree in Philosophy, Politics and Economics from Oxford University.

Mr. Mellon has an interest in 1.0 million ordinary shares of the Company, representing approximately 0.2% of the issued share capital.

The Company also announces that Klaus Eckhof, Non-Executive Director of the Company, is stepping down from the Board with immediate effect.

Mark Child, Chairman of Condor Resources plc commented: "I am delighted that Jim Mellon has joined the Board of Condor Resources plc. Jim brings to the Board a rare intellect and capacity to think uniquely and laterally. Jim has had several successful investments in the natural resource sector and brings a wealth of experience and contacts that could be strategically important for the Company. I worked for Jim as an executive director of Regent Pacific Group and look forward to working with him to ensure Condor is a success. I would like to thank Klaus Eckhof for his contribution to the Company over the past 5 years. "

Additional information

Save as set out below, there are no further details in relation to the above appointment which require disclosure under paragraph (g) of Schedule 2 to the AIM Rules.

The Directorships and past Directorships of Jim Mellon, aged 54, are listed below:

Current Directorships:	Directorships in the past five years:
Asian Opportunity Fund 1998 - Series I	Asian Opportunity Fund 1998 - Series II
AstroEast.com (Hong Kong) Limited	Bigsave Holdings plc
AstroEast.com Limited	Bigsave UK Limited
Betinternet.com Ltd	Burnbrae Charlottenburg GmbH
BFS Absolute Trust Limited	Clean Air Capital Limited
Burnbrae Commercial GmbH	Mago Resources (PTY) Limited
Burnbrae Development GmbH	Regent Markets Group Limited
Burnbrae Friedrichstein GmbH	Regent Markets Holdings Ltd.
Burnbrae Germany East GmbH	Titec BVI Ltd
Burnbrae Germany GmbH	UBQT Media
Burnbrae Germany North GmbH	Undervalued Assets Fund - Series One
Burnbrae Germany South GmbH	Uramin Inc
Burnbrae Germany West GmbH
Burnbrae Group Limited
Burnbrae Kreutzberg GmbH
Burnbrae Limited
Burnbrae Lutzowstrasse GmbH
Burnbrae Mitte GmbH
Burnbrae Prenlauer Berg GmbH
Burnbrae Residential GmbH
Burnbrae Sachsen GmbH
Burnbrae Schonefeld GmbH
Burnbrae Spandau GmbH
Burnbrae Tempelhof GmbH
Burnbrae Tiergarten GmbH
Burnbrae Wedding GmbH
Burnbrae Wilmersdorf GmbH
CCEC Ltd
Charlemagne Capital (IOM) Limited
Charlemagne Capital Limited
Charlemagne Capital Russia Fund
Charlemagne Capital Russia Value Fund
Discover Investment Company
Emerging Metals Limited
Fixed-Odds Capital (Cook Islands) Ltd
Genseq Limited
Global Glory Investment Limited
IC Technology UK Limited
Manx Financial Group plc
Microcap Partners Limited
Niger Uranium Limited
Paymonthly.com (Hong Kong) Limited
Polo Resources Limited
Red Dragon Resources Corporation
Regent Corporate Finance Limited
Regent Fund Management (Asia) Limited
Regent Fund Management Limited
Regent Metals Holdings Ltd
Regent Pacific Group Limited
Rivington Street Holdings plc
RL Country Warrant Fund
Shaanxi Red Dragon Resources Ltd
Shellbay Investments Limited
Sleepwell Hotels (UK) Limited
Sleepwell Hotels Limited
Speymill Deutsche Immobilien Company Plc
Speymill Group Plc
Speymill Property Managers Limited
Undervalued Assets Property Fund - Series II
Uranco Inc
Webis Holdings plc

Further disclosures:

·   Mr James Mellon is also a Non-Executive Co-Chairman of Regent Pacific Group Ltd, a company listed on the Hong Kong Stock Exchange. The Company has been informed by Mr Mellon that there is an arrest warrant in his name which was originally issued by the South Korean prosecutor's office on 19 December 2000 and subsequently reissued on 14 January 2004. The warrant was due to remain valid and effective until 12 March 2010. The arrest warrant pertains to Mr Mellon's alleged involvement in a conspiracy with Seung-Hyun Jin (''Mr Jin'') and Chang-Kon Koh to manipulate the share price of Regent Securities Co., Ltd ("Regent") and a failure to make adequate investigations in connection with the provision of certain loans by one of Regent's subsidiaries to Mr Jin. Mr Mellon has informed the Company that he denies these allegations which are without substance.

·   On 3 January 2008, Bigsave Holdings plc, a company of which Jim Mellon was a director, entered into a voluntary liquidation. There were no unsatisfied creditors.

·   On 8 April 2003, Regent Pacific Fund, a company of which Jim Mellon was a director, entered into a voluntary liquidation. There were no unsatisfied creditors.

·   On 9 December 2005 Undervalued Assets Fund - Series One, a company of which Jim Mellon was a director, entered into a voluntary liquidation. There were no unsatisfied creditors.

·   Asian Opportunity Fund 1998 - Series I commenced voluntary liquidation on 5 February 2008 pursuant to its Articles and Association. Jim Mellon was a director within the 12 month periods preceding such date. There were no unsatisfied creditors.

·   Jim Mellon was also previously a director of Regent Global Fund and Undervalued Assets Greater China Fund Series III, both of which went into voluntary liquidation. These two funds were liquidated with the consent of shareholders as the directors recommended that due to a decline in the size of the funds, they were uneconomic. There were no unsatisfied creditors.

For further information please contact:

Condor Resources plc           Mark Child, Chairman

[phone]

Ambrian Partners Limited       Samantha Harrison / Ben Wright

[phone]

Farm Street Media                  Simon Robinson

[phone]

ENDS

 

END

 

 

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