REG-IMC Exploration Group Plc: Directorate Change

IMC ExplorationAnnouncement

14/03/2024 07:00

14 March 2024

IMC EXPLORATION GROUP PLC

 

("IMC" or the "Company")

 

Appointment of Directors

 

IMC Exploration Group plc (LSE: IMC) is pleased to announce the appointment of
Vahagn Marukhyan and Gagik Gevorgyan as executive directors of the Company
with immediate effect.  Vahagn Marukhyan has also been appointed as the
Company's Chief Financial Officer and Gagik Gevorgyan has also been appointed
as the Company's Chief Geologist Armenia.

 

The appointment of the two new directors follows the completion of IMC's 100%
acquisition of MVI IRELAND s.r.o. ("MVI") on 1 November 2023.  MVI is the
Czech Republic registered company that owns 100% of the Armenian mining
company, Assat LLC, that is operating the Karaberd mine.

 

Vahagn Marukhyan, who is based in Yerevan, Armenia, currently holds the
position of Investment Director at Amber Capital, a private equity fund in
Armenia.  Previously Vahagn held senior positions at Ernst & Young in Armenia
for over 14 years, where he latterly served as a head of the Strategy and
Transactions practice, supporting Armenian and international clients across a
wide spectrum of professional consulting services.  Vahagn was also
previously a board member of the European Business Association in Armenia and
EU4Business country coordinator for Armenia.  Vahagn holds a PhD in
International Economics.

 

Gagik Gevorgyan is a leading Armenian geologist with over 45 years of
experience in mining and quarrying.  He has previously served as Director of
Central Geological Expedition in Armenia and Chief Geologist to a number of
mining companies in Armenia.  Gagik has been an expert at the State
Examination Commission of Reserves of the Republic of Armenia and has over his
many years of working in Armenia produced numerous reports including authoring
the calculation of reserves of the Armanis gold-polymetallic deposit and of
the Teghut copper-molybdenum deposit, as well as being author of reports on
the results of prospecting and appraisal works on ore mining from the
Karaberdskoye and Fioletovskoye deposits.  He also authored reports on
exploration of the Lusajur, Tukhmanuk, and Vazashen gold deposits and numerous
other reports on copper and base metals deposits in Armenia.

 

Commenting, Eamon O'Brien, Executive Chairman of IMC, said:  "I am delighted
to welcome Vahagn and Gagik to the IMC board.  Both are very experienced in
their fields and their knowledge and experience will be invaluable as we
progress our projects in Armenia and Ireland.  Our new CFO, Vahagn Marukhyan,
has a `big four' accounting background and Gagik Gevorgyan is a geologist with
tremendous knowledge of projects in Armenia.  I look forward to making
further announcements as we progress in this exciting time for IMC."

 

Other than as set out in this announcement there are no further disclosures
that would be required in respect of Vahagn Marukhyan and Gagik Gevorgyan
under paragraph 9.6.13 of the Listing Rules.

 

Enquiries:

 

IMC Exploration Group plc

 

Eamon O'Brien

+353 87 6183024

 

Kathryn Byrne

+353 85 233 6033

 

Keith Bayley Rogers & Co. Limited (Financial Adviser)

 

Stephen Clayson

stephen.clayson@kbrl.co.uk

+44 (0)7771 871 847

 

Brinsley Holman

brinsley.holman@kbrl.co.uk

+44 (0)7776 302 228

 

IFC Advisory Limited (Financial PR and IR)

 

Tim Metcalfe

Florence Chandler

+44 (0)203 934 6630

 



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