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Edenville Energy announces board changes

Published by
World Coal,

Edenville Energy Plc, the operator of the Rukwa Coal Project in Tanzania, is restructuring its Board as the company looks to expand its Rukwa project to benefit from the increased demand and pricing for its coal, together with exploring other opportunities to broaden the company’s operations.

Alistair Muir and Jeff Malaihollo have stepped down with immediate effect from their roles as CEO and Non-Executive Chairman, respectively. Jeff Malaihollo has agreed to stay on as a consultant to the company for the next three months to ensure a smooth transition.

Noel Lyons has been appointed as the company’s new CEO and Paul Ryan as an Executive Director. Nick von Schirnding has been appointed Non-Executive Chairman. In addition, Andre Hope will join the Board as a Non-Executive Director. Following this restructuring, the Board of the company will comprise Nick von Schirnding (Non-Executive Chairman), Noel Lyons (CEO), Paul Ryan (Executive Director), Franco Caselli (Non-Executive Director) and Andre Hope (Non-Executive Director).

It is the intention of the incoming executive Board members to spend significant time in Tanzania and retain and relocate certain experienced personnel from other existing African coal operations, which they are associated with, to Tanzania. A more comprehensive update on this will be provided in the near future.

Noel Lyons, CEO, commented: “I am delighted to be joining the Edenville Board. Given my ongoing operational experience in Africa I believe we are well positioned to optimise the proposed expansion of Rukwa, both in terms of production rates and sales. I look forward to providing shareholders with a more comprehensive update on this in the near future.”

Nick von Schirnding, Chairman, commented: “I welcome Noel as our new CEO who, together with Paul, has a clear strategy in place to upgrade the Rukwa Project and drive shareholder value going forward. On behalf of the Board, I would like to thank Alistair and Jeff for their efforts over these past years in what have been difficult times for the company. They leave the company on a stronger financial footing and I wish them the best in their future endeavours.”

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