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