Crusader Resources appoints Andrew Richards to its Board as Executive Director alongside Stephen Copulos as Non-Executive Chairman

– AUSTRALIA, West Perth – Crusader Resources Limited (ASX:CAS | LON:CAS) today announced the appointment of Stephen Copulos as Non-Executive Chairman and Andrew Richards as Executive Director.

These appointments coincide with the resignations of UK based Chairman, Mr Andrew Vickerman and Managing Director, Mr Marcus Engelbrecht, following the passing of a resolution by shareholders for the cancellation of the AIM listing at a General Meeting held on 28 February 2019. The cancellation will take effect at 7:00am on 8 March 2019 in the UK.

The Company would like thank Andrew Vickerman and Marcus Engelbrecht for their services and wish them well with their future endeavours.

Mr Copulos is the Company’s largest shareholder and previously served as Non-Executive Chairman from 6 March 2013 To 17 April 2018. He has supported the Company over many years investing in shares and providing loan facilities.

Mr Richards will be a part time Executive Director (supported by consultants where appropriate to finish the Bankable Feasibility Study for the Borborema Gold Project) and manage the day to day operations.

The position of a full time Managing Director has been made redundant which will further reduce corporate overheads and consolidate the executive team in Perth.

The new Board is very conscious of the need to consolidate management and the structure of the company to maintain focus and deliver on the potential of the Company’s projects. As part of this the Company will seek to significantly reduce operating costs in all areas as we focus on core activities.

Your directors are currently finalising the future strategy for the company and this will be provided to the market shortly.

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