Azumah Resources Limited announced that IGIC Pte Ltd. (an affiliate of Ibaera Capital Fund GP as manager for and on behalf of private equity group, Ibaera Capital Fund GP Limited) (Ibaera) has increased its relevant interest to over 50% of Azumah's shares, thereby gaining control of the Company. In accordance with those arrangements, Azumah has made the role of its Managing Director redundant, effective immediately, with Mr. Stephen Stone retiring as a director of the Company. Azumah has agreed that Ibaera may appoint an additional nominee director to the Company's Board now that it holds more than 50% of the Company's issued shares. Ibaera has informed Azumah that it will nominate the additional director in the coming days.