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Tiaro Coal Appoints ICP Ltd Chairman Mick Aw As A Director

Tiaro Coal (ASX:TCM) has appointed ICP Ltd's (SGX:ICP) chairman Mick Aw as a director of the company.

His appointment follows ICP's purchase yesterday of 22.6 million shares, or a 19.9% stake in Tiaro at a 45% premium by a subsidiary AceA Resources Pte Ltd.

"We are very pleased by Mr Aw's decision to take personal interest in the board's stewardship of the company," Tiaro's managing director Dan Buckley said.

"His experience in corporate finance and considerable business background will aid the company's development of its metallurgical coal interests in Queensland, as well as opening new avenues for Tiaro Coal's growth."

Tiaro directors John Dawkins and Tan Sri Ibrahim Menudin have stepped down from the company's board.

Tan Sri was a founding director and inaugural chairman of the company who oversaw its transition from a green field coal explorer to now developing the company's first coal mine in the Tiaro Coal Measures in Queensland.

Besides its 19.9% stake in Tiaro, ICP also holds a 11.9% interest in Paragon Coal Pty Ltd, which owns EPC 956 and EPC 957 in the Maryborough Basin in South East Queensland.

EPC 956 hosts the T9 West deposit that has total Resources of 87 million tonnes of coal and is the subject of a Pre-Feasibility Study by the Paragon Coal joint venture (Tiaro 47.6%).

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