New Appointment and Board Changes

RNS Number : 8526U

Adriatic Metals PLC

03 August 2020

 

Adriatic Metals PLC 

('Adriatic Metals' or the 'Company')

NEW APPOINTMENT AND BOARD CHANGES

Precious and base metals explorer and developer Adriatic Metals Plc (ASX:ADT, LON:ADT1) would like to announce the appointment of Ms Sanela Karic as a Non-Executive Director of the Company.  Ms Karic, a Bosnian national, brings a wealth of experience, with over 15 years' experience as a lawyer and a career spanning corporate affairs, mergers & acquisitions and human resources. Ms Karic is a graduate of the University of Sarajevo and is currently the Executive Director for Legal Affairs and Human Resources at the Prevent Group, Bosnia's largest diversified industrial corporation. She also holds the position of Chief Executive Officer at Sanitex, a subsidiary company of the Prevent Group, specialising in the manufacturing of medical and hygiene products for export across the European Union.

In addition to the appointment of Ms Karic, Adriatic would also like to advise that Mr Peter Bilbe, Non-Executive Chairman, has stepped down from the role of Chairman, but will remain a Non-Executive Director, and Michael Rawlinson, who has served on the Board since early 2019, has been appointed to the role of Non-Executive Chairman.

Adriatic's Managing Director and CEO, Paul Cronin commented Peter Bilbe has been Chairman of Adriatic since prior to its listing on the ASX in May 2018, and during his time as Chairman has led the Company through a period of unprecedented growth, and been integral to its success. Peter, who is located in Perth, Australia, is also the Chairman of ASX100 company, IGO Limited, and his decision to step down as Chairman is evidence of his commitment to global best practice corporate governance. I would like to personally thank Peter for his support and guidance over the past 3 years, and look forward to continuing to work with both Peter and Michael in their new roles on the Board."

Peter Bilbe also commented: "I am delighted with the progress of Adriatic, and look forward to my ongoing involvement as a Non-Executive Director. As the company continues to grow and looks to finance development next year, it is essential that the Board and management are appropriately structured for the future. Michael Rawlinson will be a very capable Chairman for Adriatic, and I look forward to working with him in his new role."

As a function of this change, the Board Committees will be reconstituted with the following memberships.

Audit & Risk Committee	Nominations & Remuneration Committee	Environmental Social & Governance Committee
Sandra Bates*	Peter Bilbe*	Sanela Karic*
Michael Rawlinson	Sandra Bates	Peter Bilbe
Julian Barnes	Julian Barnes	Michael Rawlinson

* Denotes Chairperson

Authorised by, and for further information please contact:

Paul Cronin
Managing Director & CEO
[e-mail]

** ENDS **

Market Abuse Regulation Disclosure

The information contained within this announcement is deemed by Adriatic (LEI: 549300OHAH2GL1DP0L61) to constitute inside ‎information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. The person ‎responsible for arranging and authorising the release of this announcement on behalf of Adriatic is Paul Cronin, Managing Director and CEO.

For further information please visit  www.adriaticmetals.com ; @AdriaticMetals on Twitter; or contact:

Adriatic Metals PLC
Paul Cronin / Emma Chetwynd Stapylton	Tel: [phone]
Tavistock Communications Limited
Charles Vivian	Tel: [phone]
Edward Lee	Tel:  [phone]
Gareth Tredway	Tel: [phone]
The Capital Network
Julia Maguire/Lelde Smits	Tel: [phone]

About Adriatic Metals

Adriatic Metals Plc (ASX:ADT, LON:ADT1) is a precious and base metals explorer and developer that owns the world-class advanced polymetallic Vares project in Bosnia & Herzegovina.

The Vares project consists of two high-grade polymetallic deposits, located at Rupice and Veovaca. Bosnia & Herzegovina is well-positioned in central Europe and boasts a strong mining history, pro-mining environment, highly-skilled workforce as well as extensive existing infrastructure and logistics.

The Vares project's captivating economics and impressive resource inventory have attracted Adriatic's highly experienced team, which is expediting exploration efforts to expand the current JORC resource. Results of a recent scoping study indicate an NPV8 of US$917 million and IRR of 107%. Leveraging its first-mover advantage, Adriatic is rapidly advancing the project into the development phase and through to production.

 

END

 

 

BOAUPUAGRUPUPPP