African Minerals - Re: AMI Stream Log - All management; General Managers, Heads...

All management; General Managers, Heads of Department and all other senior management both locally and internationally in respect of the Operating Companies will report to Gibril Bangura with immediate effect,,,,,,,,,,,,,,,,,,,,,,,,,,than .............. MEMO ATTENTION: All Staff FROM: Gibril Bangura, Executive Chairman and Acting Chief Executive Officer Since the Mining Operations were placed in care and maintenance in December last year, we have been in continued negotiations with our internal shareholders regarding the way forward. We will continue to inform you of any changes to these positions as and when they occur. In the meantime, we are closely monitoring some encouraging developments in the downward trends of infection rates in the Ebola crisis across the country. This has been confirmed in a recent nationwide statement by His Excellency the President of Sierra Leone. We therefore remain hopeful of an improved iron ore price on the world market. The company also wishes to thank you all for your continued support and patience while we seek sustainable solutions to our current circumstances. .........................................then ........................... In the current extremely difficult financial and operational circumstances of the AML Group, all decisions about new financial commitments (including changes to existing ones) of the Group have to be made carefully taking into account all relevant factors. To ensure that this can be done, all such decisions now require my approval as CEO of AML, and where appropriate I will ensure that these are also referred to the relevant boards of directors. This will ensure that all companies in the Group, and their directors and staff are seen to be acting in the best interests of the companies’ creditors and shareholders This applies to all financial commitments within the Group, including purchasing any materials and services, new contracts or changes to existing contracts, settlements of claims, new employees/contractors or changes to their terms. It applies equally at AML level and Operating Company level (TIOSL and ARPSSL), because AML is the 75% shareholder in these companies. My approval is in addition to any normal management process and approval.