Metals Exploration PLC Appointment of Non-Executive Director (4274K)
05 Maio 2022 - 3:02AM
UK Regulatory
TIDMMTL
RNS Number : 4274K
Metals Exploration PLC
05 May 2022
5 May 2022
METALS EXPLORATION PLC
("Metals Exploration" or the "Company")
Appointment of Non-Executive Director
Metals Exploration plc (AIM: MTL), a gold producer in the
Philippines, is delighted to announce the appointment of Mr Tim
Livesey as a Non-Executive Director of the Company.
Tim has over 30 years of professional exploration, project
development and mining experience in gold and base metals across
Africa, Europe, the Middle East and Asia. Tim's extensive career
covers both technical and executive management in the industry. He
has managed significant projects across the globe for companies
such as Anglo-American PLC and Barrick Gold Corporation and held
executive and board level roles across junior, mid-tier and senior
companies. This includes his current role as Director and Chief
Executive Officer of Oriole Resources PLC. Alongside this, Tim is
also a fellow of the Geological Society and a Member of the AusIMM
having graduated from the University of Newcastle with an honour's
degree in geology.
This appointment replaces Jeremy Wrathall who is stepping down
as Non-Executive Director of Metals Exploration to fully focus on
his role as Founder and Chief Executive Officer of Cornish
Lithium.
Subject to the approval by shareholders at the next AGM,
together with any other applicable consents, the Company intends to
offer Mr Livesey options to subscribe for 6.6 million ordinary
shares in the capital of the Company on the following basis:
-- 6,600,000 'zero priced options' with a subscription price per
share equal to the nominal value of each share at the time of
exercise ;
-- Provided Mr Livesey remains a director of the Company, the
option vesting conditions include (i) one third of the options vest
on grant, (ii) one third of the options vest on the first
anniversary of grant, and (iii) one third of the options vest on
the second anniversary of grant;
-- The options are exercisable after vesting provided the 30 day
volume weighted average price (VWAP) of the Company's quoted shares
exceed 143% of the 30 day VWAP price on the date of his
appointment;
-- The option expiry date is to be 3 years from grant; and
-- Subject to the parties entering into an option deed
containing market standard terms and conditions for such deed.
The composition of the Board of Metals Exploration is now:
-- David Cather, Independent Non-Executive Chairman
-- Darren Bowden, CEO
-- Tim Livesey, Independent Non-Executive Director
-- Andrew Chubb, Non-Executive Director
-- Steven Smith, Non-Executive Director
-- Guy Walker, Non-Executive Director
David Cather, Non-Executive Chairman of Metals Exploration,
commented:
"We are delighted to welcome Tim to the board. His extensive
career as an exploration and project development geologist, and
previous board governance experience, make him an outstanding
replacement to Jeremy. We very much look forward to working with
him.
We also would like to thank Jeremy for his outstanding
contribution over the past 12 months, particularly in respect of
his work on the Technical Committee and spearheading the
identification of near-mine targets for extending Runruno's life of
mine.
The Board wish him well with the ongoing development of Cornish
Lithium and its part in the battery revolution as the World
de-carbonises."
- END -
-
For further information please visit or contact:
Metals Exploration PLC
Via Tavistock Communications
Limited +44 (0) 207 920 3150
-------------------------
Nominated & Financial STRAND HANSON LIMITED
Adviser:
-------------------------
James Spinney, James
Dance, Rob Patrick +44 (0) 207 409 3494
-------------------------
Financial Adviser & Broker: HANNAM & PARTNERS
-------------------------
Matt Hasson, Franck Nganou +44 (0) 207 907 8500
-------------------------
Public Relations: TAVISTOCK COMMUNICATIONS
LIMITED
-------------------------
Jos Simson, Nick Elwes,
Oliver Lamb +44 (0) 207 920 3150
-------------------------
Web: www.metalsexploration.com
Twitter: @MTLexploration
LinkedIn: Metals Exploration
Additional information on the Directorate Appointment
The following additional information is provided in accordance
with AIM Rule 17 and paragraph (g) of Schedule Two of the AIM Rules
for Companies.
Full name Timothy James Livesey
Age 54
-------------------------------------------
Current directorships/partnerships: Oriole Resources PLC
Lelantos Consulting Limited
Reservoir Minerals Cameroon (BVI) Limited
Stratex EMC
Stratex Madencilik
Thani Dubai Mining Ltd
Thani Stratex Djibouti Ltd
-------------------------------------------
Historical directorships/partnerships Minexia Limited
from previous Ormonde Mining PLC
5 years:
-------------------------------------------
Other than the information contained within this announcement,
there is no further information required to be disclosed pursuant
to paragraph (g) of Schedule Two of the AIM Rules for
Companies.
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