24 March 2016
Altona Energy Plc
("Altona" or the "Company")
Director Appointment
Altona is pleased to announce that Mr Chi Ma has been appointed to the board of the Company as a non-Executive Director with immediate effect. Mr Ma is the nominated board representative of Sino-Aus Energy Group Ltd ("Sino-Aus"), which has the right to appoint a director to the board of Altona following its subscription for Altona shares, announced on 25 January 2016, under the terms of the Arckaringa Joint Venture Agreement.
Qinfu Zhang, Executive Chairman of Altona commented: "We are pleased to welcome Mr Ma to the board of Altona and look forward to a close working relationship that is expected to deliver significant opportunities and benefits to both parties."
Further information on Mr Ma:
Mr Ma, aged 60, is or has been in the last five years a director of the following companies:
Current directorships
- Baoji Hailang Permanent Magnet Drive Energy-Saving Technology Co Ltd.
- Shaanxi Hailang Real Estate Development Co Ltd.
- Weinan Hailang Micro-Discharge Environmental Industry Co Ltd.
- Baoji Hailang Boiler Equipment Co Ltd.
- Shaanxi Fuan Biological Science and Technology Co Ltd.
- Sino-Aus Energy Group Ltd.
- Xi'an Yishen New Energy Hi-Tech Ltd.
Previous directorships (within 5 years)
- Linyou County Micro-Discharge Heat Engineering Co Ltd
- Weinan Hailang Micro-Discharge Environmental Industry Co Ltd.
Mr Ma is a director and a 10% shareholder of Xi'an Yishen New Energy Hi-Tech Ltd., which has a 60% interest in Sino-Aus.
There is no further information to be disclosed in accordance with the requirements of Schedule Two (g) of the AIM Rules.
-ends-
For further information, please visitwww.altonaenergy.comor contact:
|
Altona Energy plc
Qinfu Zhang, Executive Chairman
|
+44 (0)7555 679 245
|
|
Leander (Financial PR)
Christian Taylor- Wilkinson
|
+44 (0)7795 168 157
|
|
Northland Capital Partners Ltd (Nomad and Broker)
Matthew Johnson / Gerry Beaney (Corporate Finance)
John Howes / Abigail Wayne (Corporate Broking)
|
+44 (0)203 861 6625
|
About Altona
Altona is listed on the London Stock Exchange's AIM market. Its principal focus is on the evaluation and development of the Company's flagship Arckaringa Project to exploit the significant coal resources contained in three exploration licences covering 2,500 sq. kms in the northern portion of the Permian Arckaringa Basin in South Australia. The Project is designed to produce syngas products for the Australian market and export from a resource exceeding 7.8 billion tonnes of coal (1.3 billion tonnes JORC compliant).