Directorate Change and Granting of Share Options

16 June 2014

Coburg Group Plc ('the Company')

Directorate Changes and Granting of Share Options

Coburg Group Plc is pleased to announce that Chris Ells has been appointed as Chairman of the Company with immediate effect.

The Company also announces that David Ovadia has been appointed as a Non-Executive Director of the Company with immediate effect.

David Craig Ovadia MBE (aged 65) is a geologist and was previously Director of International at the British Geological Survey (BGS"). David is currently Chairman of International Geosciences Limited (which trades as BGS International), a commercial spin-out from BGS. He has served as a Non-Executive Director on several boards including Rainbow Seed Fund (RSF) Limited and its holding company, Spectrum General Partner Limited as well as South East African Mining Limited, a privately owned, London based exploration company. David is a consultant to the World Bank and the EU on various geological programmes. David is well connected in the African and Asian mining sectors and operates at both a strategic and a technical level.

Further information about DavidOvadia is presented in the table below: 

The Company confirms there is no other information that is required to be disclosed pursuant to Schedule 2 paragraph (g) of the AIM Rules.

The Company also announces that Chris Ells has been granted 35,000 share options, which are to be exercised before 12 June 2016 at a price of £1.25 per share. In addition to these options Chris Ells also holds 86,600 Ordinary Shares of 10p each in the Company which represents 11.9% of the Company's voting rights.

The Company also announces that Bryan Stockley has stepped down from the Board with immediate effect.

Chris Ells, the new Chairman, commented:

"The Board Changes will significantly enhance the Company's prospects in identifying attractive investment opportunities in the Mining and Oil and Gas Sectors. David Ovadia's extensive experience and expertise in these sectors will greatly complement the skills of the current Coburg Board. I would like to thank Bryan Stockley for his contribution to the Company's progress during his time as a Non-Executive Director".

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