Sawiris Appointed La Mancha Chairman

Canada-based La Mancha Resources Inc. announced that, following the satisfaction of all conditions to the offer by Weather Investments II S.à r.l. to acquire all of the common shares in La Mancha at a price of C$3.50 each by way of takeover bid, changes have been made to the La Mancha board effective immediately, 4-Traders website reported.

Among these changes in the board was appointing business tycoon Naguib Sawiris as board chairman.

For his part, Naguib Sawiris said: “We are very pleased with the successful results of the tender offer and also very excited by what we can achieve together, both in terms of ensuring that La Mancha’s current assets maximize their potential, as well as working with the management team to build out a truly world class mining business.

4-traders