20 March 2020
ALTONA ENERGY PLC
(“Altona” or “the Company”)
The Board of Altona (Aquis Growth Market: ANR.PL), a mining exploration company in South Australia, announces the resignation of Qinfu Zhang with immediate effect.
Mr Zhang, who from 2015 served as the Executive Chairman of Altona is stepping down from the Board and as a Director of Altona, to pursue his other business interests in China, which have been affected by the Covid-19 virus.
The Company is looking to appoint a new Executive Chairman or CEO, should its current fund-raising project be successful but, in the meantime, non-Executive Director, Christian Taylor-Wilkinson, is appointed as Interim CEO.
Christian Taylor-Wilkinson, Interim CEO of Altona, commented, “We wish to thank Mr Zhang for his contribution to the board over the past five years and wish him every success in these difficult economic times.
“We are focusing on strengthening the board so as to be able to execute our In-Situ Gasification strategy on mining tenement PELA 517. We are currently in discussions with a mining Technical Director based in Australia and a possible Executive Chairman/CEO located in London. These appointments will be made in April, should we raise sufficient funds in the Open Offer.”
For further information, please visit www.altonaenergy.com or contact:
Altona Energy plc
Christian Taylor-Wilkinson, Interim CEO +44 (0) 7795 168 157
Philip Sutherland, Non-Executive Director +61 (0)402 440 339
Alfred Henry Corporate Finance Ltd (NEX Corporate Adviser)
Jon Isaacs / Nick Michaels
+44 (0) 20 3772 0021
Altona is an exploration company focused on the evaluation, development and extraction of coal assets in South Australia though the process of in-situ gasification.
The Company was admitted to trading on AIM on 10 March 2005 and was subsequently admitted to NEX (now Aquis Stock Exchange) on 1 February 2019. A copy of its admission documents dated 4 March 2005 can be accessed on its website, www.altonaenergy.com. This website is where items can be inspected under Rule 75 of the Aquis Growth Market Rules for Issuers, from 1 February 2019.