Board Changes

RNS Number : 8411J

Harvest Minerals Limited

03 July 2017

 

Harvest Minerals Limited / Index: LSE / Epic: HMI / Sector: Mining

3 July 2017

Harvest Minerals Limited

("Harvest" or the "Company")

Board Changes

Harvest Minerals Limited, the AIM listed fertiliser development company, is pleased to announce the appointment of Mr Jack James, currently Company Secretary, as a Non-Executive Director with immediate effect.   He replaces Mr Mark Reilly, who has resigned from his role as Non-Executive Director to pursue other interests.

Mr James has over 20 years' experience in chartered accounting, specialising in corporate advisory and reconstruction. Mr James provides accounting, secretarial and advisory advice to several private and public companies, government and other stakeholders.  He has a Bachelor of Business from the Queensland University of Technology and is a Chartered Accountant. 

Harvest Executive Chairman Brian McMaster said, "We are delighted to welcome Jack to the Board and believe that his exemplary financial background will play a key role as we enter the next stage and focus on developing sales of our KPfértil multi-nutrient, direct application natural fertiliser.  I would also like to thank Mark for his time and support and wish him every success for the future."

Related Party Transaction

As noted below, Mr James is a director and 50 per cent. shareholder of Palisade Business Consulting Pty Limited ("Palisade").  The Company has an ongoing relationship with Palisade whereby it provides the Company with registered office, company secretarial, accounting and book-keeping services, which had a value of approximately A$170,700 for the financial year ended 30 June 2017.   As a result, Palisade is classified as an associate of a related party of the Company.  As such, the existing contract in place between the Company and Palisade constitutes a related party transaction. The independent directors of the Company (being the directors other than Mr James), having consulted with the Company's nominated adviser, Strand Hanson Limited, considers that the terms of the Palisade contract are fair and reasonable insofar as the Company's Shareholders are concerned.

Additional information

The following additional information is provided in accordance with AIM Rule 17 and Schedule Two, paragraph (g) of the AIM Rules for Companies:

Jack Robert James (aged 53)

Current directorships/partnerships	Previous directorships/partnerships (last 5 years)
Apical Partners Pty Ltd	Ausmex Mining Group Limited
Avonglade Enterprises Pty Ltd	Castillo Copper Limited
Cass Phaedra Skaya Pty Ltd	Castillo Exploration Pty Ltd
Greencape Holdings Pty Ltd	Blackstar Petroleum Limited
Haranga Resources Limited	Demeter Consulting Pty Ltd
Nomad Mining Pty Ltd	Far North Minerals Pty Ltd
Palisade Business Consulting Pty Ltd	Firestone Energy Limited
Palisade Business Consulting (CS) Pty Ltd	Hunnu Coal Pty Ltd
Reeve Ventures Pty Ltd	Icon Gold Pty Ltd
Sturic Pty Ltd	KREAC Investments Pty Ltd
Upcity Investments Pty Ltd	KREAC Pty Ltd
Vega Funds Pty Ltd	Martu Mining Services Limited
Wolf Petroleum Limited	Martu Holdings Pty Ltd
	Outback Training Services Pty Ltd
	Premiere Eastern Energy Limited
	TWB Drilling Limited
	Ultracharge Limited
	Westar Industrial Limited

At the time of his appointment, Mr James holds no shares or options over shares in the Company.

Other than the information set out above, there is no other information required to be disclosed in connection with the appointment of Mr James under AIM Rule 17 and Schedule Two, paragraph (g) of the AIM Rules for Companies.

ENDS

For further information please visit www.harvestresources.org or contact:

Harvest Minerals Limited	Brian McMaster (Chairman)	Tel: [phone]
Strand Hanson Limited (Nominated Financial Adviser)	James Spinney Ritchie Balmer	Tel: [phone]
Mirabaud Securities LLP (Broker)	Rory Scott	Tel: [phone]
Beaufort Securities Ltd (Joint Broker)	Jon Bellis	Tel: [phone]
Whitman-Howard Ltd	Grant Barker	Tel: [phone]
St Brides Partners Ltd	Isabel de Salis	Tel: [phone]
	Olivia Vita

 

END

 

 

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