AGM Statement

RNS Number : 2336G

China Africa Resources PLC

04 June 2013

 



04 June 2013

China Africa Resources plc 

("China Africa" or the "Company")

AGM Statement

At the Annual General Meeting to be held at 11 a.m. today, the Chairman will read the following statement:

"Good morning ladies and gentlemen. As chairman of CAR, and on behalf of CAR, I am very pleased to welcome you to the company's Annual General Meeting. As investors or service providers, your support is always so significant to CAR. For this reason, on behalf of the company, I would like to express our sincere thanks to you for your attendance.

In the previous financial year, CAR has been mainly engaged in developing Berg Aukas lead / zinc project and substantial progress has been made. 

We all know that Berg Aukas is the only major project for CAR, which is vital to the company. Provided that the results from the work so far continue to be positive, it is expected the feasibility study will be finalized by the end of 2013.  I believe all the progress that we have made is exciting to all the shareholders, including ECE, the major shareholder.

Encouraged by Berg Aukas, ECE continues to look for opportunities to enlarge the Lead and Zinc asset base of CAR.

As the chairman of CAR, and also on behalf of ECE, I would like to share with you a recent development regarding ECE. Earlier this year, ECE took on new shareholders by doing a placement for 49% of its total shares and raised over 300 million USD. Before the placement, ECE was a 100% state-owned company, and now it has a more diversified shareholder base. New shareholders include private investors and a private equity fund. I firmly believe that the improvement of ECE's shareholding structure will place ECE in a better position to support CAR

CAR was established as an organization focused on rapid growth and value creation for shareholders by way of project development. This remains true, although the current international financial and economic situations are complex and volatile. It comes with risks, but it also presents true opportunities. I am looking forward to sharing our new achievements in CAR's next AGM."

ENDS

Enquiries:

Rod Webster

Chief Executive Officer

China Africa Resources plc

020 7917 2989

Dean Friday

Commercial & Investor Relations Manager

China Africa Resources plc

020 7917 2989

Nominated Adviser and Broker

RFC Ambrian Limited

Samantha Harrison / Jen Boorer

020 3440 6800

Further information is available on the Company's website: www.chinaafricares.com

Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.

 

END

 

 

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