Board Changes

RNS Number : 8399H

Alba Mineral Resources PLC

08 December 2020

 

Alba Mineral Resources plc

("Alba" or the "Company")

Board Changes

Alba Mineral Resources plc (AIM: ALBA) is pleased to announce the appointment of two new Non-Executive Directors to the Alba Board with immediate effect.

Elizabeth Henson

Elizabeth Henson was, from 2007-2019, a senior international tax partner for PricewaterhouseCoopers LLP (PwC), based in London.  She was the Founder and Leader of PwC UK's International Wealth business and is considered a leader in her field.  Elizabeth has an established and substantial contact base consisting of some of the wealthiest entrepreneurs and high net worth individuals from the UK and across the globe.  

Elizabeth has a Master of Laws (LLM), Tax, from Queen Mary, University of London, a Bachelor of Laws (LLB) from Rhodes University, South Africa and a Bachelor of Art (BA), also from Rhodes University, South Africa.  She was the 2018 Spears Private Client Accountant of the Year and won the Citywealth Powerwomen Awards Silver award for Woman of the Year - Leadership (Large, Institutional) in 2016, 2018 and 2019, among other awards.

Lars Brünner

Lars Brünner was, from 2014 until May 2020, the Arctic Mining and Environment, Business Development Leader for Golder Associates A/S, the leading international mining and environmental consultancy firm. 

Lars has been an Environmental Consultant for more than 25 years, during which time he has conducted numerous Environmental and Social Impact Assessments for a broad range of projects and developed a wide-ranging expertise in environmental legislation, natural resource management, monitoring and surveillance programmes. Much of Lars' work in recent years has been associated with the mining sector in Greenland.

Lars has an M.Sc. in Biology from the University of Copenhagen, Denmark.

Manuel Lamboley is stepping down from the Alba Board and will take up a consultancy role for the Company, advising Alba on access to European markets and joint venture partners.  The Alba Board extends its sincere gratitude to Manuel for his several years of service as a director of the Company and looks forward to continued collaboration on these other projects.

George Frangeskides, Executive Chairman, commented :

"I am delighted to welcome Elizabeth Henson and Lars Br ü nner to the Alba Board as independent Non-Executive Directors."

"Liz has had a stellar career rising to a very senior position at one of the world's foremost global accountancy firms.  She has a huge amount of professional experience across a wide range of sectors and countries.  I am certain that her advice and input will be of huge benefit to the Alba Board as we look to grow the Company in the coming months and years."

"Lars comes from a senior position at another leading international consultancy firm.  I got to know Lars well during our 2018 field programme at Thule Black Sands, in which he led the Golder environmental team.  Lars has an unrivalled knowledge of environmental regulation and resource management, and an exceptional knowledge of Greenland having worked on around 30 projects there in the past decade alone.  Environmental compliance plays an ever increasing role these days in the process of progressing mineral exploration and development projects through to commercial exploitation, and with Lars' expert guidance we know that we are now very well placed to advance our projects both in Greenland and elsewhere."

"These appointments are indicative of the Alba Board's determination to keep pushing Alba in the right direction and to strive for excellence on all levels, both in the quality of our projects, in our technical work and in the depth of our management team."

Additional Disclosures

The following information regarding the appointment of Elizabeth Caroline Henson, aged 61, is disclosed under Schedule 2(g) of the AIM Rules for Companies:

Current directorships and/or partnerships:	Former directorships and/or partnerships (within the last five years):
Alchimie GmbH	55 Shepherds Hill Limited
Chetwynd Road Management Company Limited	PriceWaterhouseCoopers LLP

Ms Henson does not have any beneficial interest in the ordinary shares of the Company.  As part of her remuneration package, Ms Henson has been granted share warrants over the Company's ordinary shares as follows: 

(a)  4 million share warrants with an exercise price of £0.005 per share expiring on 7 December 2023 which share warrants shall vest on 8 June 2021; and

(b)  a further 4 million share warrants with an exercise price of £0.005 per share expiring on 7 December 2023 which share warrants shall vest on 8 December 2021,

provided that on each vesting date she is still a director of the Company and is not under notice.

The following information regarding the appointment of Lars Brünner, aged 64, is disclosed under Schedule 2(g) of the AIM Rules for Companies:

Current directorships and/or partnerships:	Former directorships and/or partnerships (within the last five years):
-	-

Mr Brünner does not have any beneficial interest in the ordinary shares of the Company.  As part of his remuneration package, Mr Brünner has been granted share warrants over the Company's ordinary shares as follows: 

(a)  4 million share warrants with an exercise price of £0.005 per share expiring on 7 December 2023 which share warrants shall vest on 8 June 2021; and

(b)  a further 4 million share warrants with an exercise price of £0.005 per share expiring on 7 December 2023 which share warrants shall vest on 8 December 2021,

provided that on each vesting date he is still a director of the Company and is not under notice.

Save as set out above, no further information regarding Elizabeth Henson or Lars Brünner is required to be disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information, please contact:

Alba Mineral Resources plc George Frangeskides, Executive Chairman	[phone]
Cairn Financial Advisers LLP (Nomad)  James Caithie / Liam Murray	[phone]
ETX Capital (Broker) Thomas Smith	[phone]

Alba's Project and Investment Portfolio

Project (commodity)	Location	Ownership
Mining Projects
Amitsoq (graphite)	Greenland	90%
Clogau (gold)	Wales	90%
Gwynfynydd (gold)	Wales	100%
Inglefield (copper, cobalt, gold)	Greenland	100%
Limerick (zinc-lead)	Ireland	100%
Melville Bay (iron ore)	Greenland	51%
TBS (ilmenite)	Greenland	100%
Oil & Gas Investments
Brockham (oil)	England	5%
Horse Hill (oil)	England	11.765%

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	a)  Elizabeth Henson b)  Lars Br ü nner
2	Reason for notification
a.	Position/Status	a)  Non-Executive Director b)  Non-Executive Director
b.	Initial notification/ Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Alba Mineral Resources PLC
b.	LEI	213800Z1BU53AWR9J329
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.	Description of the financial instrument, type of instrument Identification Code	Ordinary Shares ISIN: GB00B06KBB18
b.	Nature of the transaction	Grant of share warrants at an exercise price of 0.5 pence
c.	Price(s) and volume(s)
			Volume(s)	Exercise Price (p)
			a)  8,000,000	0.5p
			b)  8,000,000	0.5p
d.	Aggregated information - Aggregated Volume - Price	16,000,000 0.5 pence
e.	Date of the transaction	08/12/2020
f.	Place of the transaction	London Stock Exchange, AIM

 

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