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African Eagle Resources unveils board changes following disposal

Published: 16:10 14 Aug 2013 BST

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African Eagle Resources (LON:AFE) unveiled several board changes following the disposal of “substantially all of its subsidiaries, assets and liabilities” to Blackdown Resources.

Venkat Siva, Paul Colucci and Mark Thompson have been hired as non- exec directors immediately, the company said.

Meanwhile, Dr Chris Pointon, Donald Newport and Ambassador Paul Rupia have resigned as non-exec directors.

Venkat's career has included working as a corporate finance banker within Goldman Sachs' M&A franchise, during which he advised some of the UK's leading blue-chip and mid-cap companies on issues relating to M&A, fundraising, restructuring and strategy.

Colucci is an investment banker with over 15 years' experience in M&A and corporate finance in the natural resources sector.

Thompson was formerly chief investment officer and co-founder of Galena Asset Management Ltd, the fund management arm of Trafigura Beheer b.v., and latterly a partner at Apollo Management, one of the world's largest alternative asset managers.

As previously reported, African Eagle will retain a 10% free carried interest in Blackdown and the firm will then become an investment company.

Shares rose 4.17% to stand at 0.25p.

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