Asia Resource Minerals : Change of CEO

12 June 2014

For Immediate Release

Asia Resource Minerals plc ("ARMS" or the "Company")

Change of CEO

Following the successful completion of the Separation transaction and the planned return of $465m in cash to shareholders, the Company confirms that its focus going forward will be on its sole coal asset, Berau Coal Energy ("Berau").  After careful consideration, the Board feels it is appropriate that the role of the Company's Chief Executive should be based in Indonesia.

As a result, Nick von Schirnding will not stand for re-election to the Board at the forthcoming Annual General Meeting ("AGM") on 27 June and will be succeeded as Chief Executive on 28 June by Amir Sambodo, currently an Independent Non-Executive Director of ARMS and a Commissioner of Berau. There will be an appropriate transition phase over the coming weeks. 

The Board of ARMS would like to thank Nick for the results he has delivered in very difficult circumstances, bringing shareholders together and helping complete the separation transaction. In addition, during his time as CEO, Nick has improved financial and governance controls at Berau, put in place a new management team, and made substantial progress with a cost reduction strategy.

Chris Walton, Chairman of ARMS said: "I wish to thank Nick for his leadership of the Company through a very challenging period. His tenure as CEO has been characterised by a consistent drive to produce tangible results. I also welcome Amir Sambodo as CEO. Amir brings a wealth of experience in both business and government in Indonesia."

Nick von Schirnding, CEO said: "When I took over as CEO at the end of 2012, the Company needed an urgent and substantial overhaul - that job is now done.  Value destruction has been addressed and a solid platform has been built for sustained value creation. I thank the Board of Directors and my management team for their support."

Amir Sambodo said: "I look forward to continuing the process of delivering further cost reductions and operational improvements at Berau, whilst ensuring that we create value for all our stakeholders."

Note to editors:

Amir Sambodo was appointed to the Board of Asia Resource Minerals plc on 11 April 2011 as an Independent Non-Executive Director. He was also appointed as a Commissioner of PT Berau Coal Energy Tbk on 29 June 2013. Amir was formerly President Commissioner of PT Teknopreneur Indonesia, President Commissioner of PT Techno Venture, President Director of PT Tuban Petrochemicals Industries, President Commissioner of PT Krakatau Steel and has held several posts within the Indonesian Government. From 1999-2000 Amir was an Adviser to the Chairman of IBRA (Indonesian Bank Restructuring Agency). In 2001 he was Acting Deputy Minister for Corporate Restructuring, from 2002-2004 he was an Adviser to the Minister of Research and Technology, and from 2009-2014 he was the Special Adviser to the Coordinating Minister for Economic Affairs. Currently, Amir is a Member of the National Innovation Committee and a Member of the National Information Technology and Communication Committee.

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