ECR MINERALS plc
(“ECR Minerals”, “ECR” or the “Company”)
US OTC: MTGDY
London: 30 March 2012 - On 27 March 2012 ECR Minerals plc announced that Patrick Harford had tendered his resignation as Managing Director of ECR and that his resignation had been accepted by the board of the Company (the “Board”). Mr Harford had stated that his resignation was for personal reasons.
The Board of ECR is pleased to announce that, following the resolution of these personal matters, Mr Harford has agreed to re-join the Board of ECR as an executive director with immediate effect.
On 27 March 2012 the Company also announced details of a substantial cost reduction programme. In order to further reduce costs Michael Silver has tendered, and the Board has accepted, his resignation as a director of the Company effective 30 April 2012.
Until Mr Silver’s resignation becomes effective, and subject to re-election at the Company’s AGM on 31 March 2012, his role will be that of a non-executive director of the Company and, subject to re-election at the AGM, Patrick Harford will take on the duties of Chairman of the Board.
The Board would like to thank Mr Silver for his assistance in the development of the Company since 2008. Mr Silver has advised that he will be available to consult to the Company as required following 30 April 2012.
Save for above and below and pursuant to Rule 17, Schedule Two (g) of the AIM Rules, the following information is disclosed in respect of Patrick Harford (age 60).
Ademro Pty Ltd
Mercator Gold Australia Pty Ltd
Gold Crest Holdings Ltd
New Mexico Copper Corporation
Copper Flat Corporation
Warm Springs Renewable Energy Corporation
Northern Territory Gold Mining NL
Bonheur 27 General Trading Pty Ltd
Lexshell 649 Investments (Pty) Ltd
Central China Goldfields plc
Kakadu Resources Ltd and Complete Form Pty Ltd, companies in which Mr Harford held directorship positions, were placed into administration in 1985 and 1987 respectively.
Mr Harford is currently interested in 2,000,000 ordinary 0.1p shares of the Company representing approximately 0.28% of the Company’s issued share capital.
For further information please contact:
|ECR Minerals plc|
|Patrick Harford, Executive Chairman|
|Stephen Clayson, Director & Chief Financial Officer|
|Luca Tenuta, Non-Executive Director|
|Michael Silver, Non-Executive Director||Tel:||+44 (0) 20 7929 1010|
|Daniel Stewart & Company plc|
|Paul Shackleton/Tessa Smith/David Hart||Tel:||+44 (0) 20 7776 6550|
|Old Park Lane Capital plc|
|Michael Parnes||Tel:||+44 (0) 20 7493 8188|
|Blythe Weigh Communications|
|Matthew Neal/Tim Blythe/Paul Weigh||Tel:||+44 (0)20 7138 3204|
|Barry Kaplan Associates|
|Larry Kaplan||Tel:||+1 732 747 0702|