Board Appointment

Ironveld PLC

05 June 2023

 

Ironveld Plc ("Ironveld" or the "Company")

Board Appointment

Ironveld plc ("Ironveld" or the "Company"), the AIM quoted mining development company, is pleased to announce the appointment of Ms Malebo Ratlhagane as Deputy Group CFO and to the Board of Directors, with immediate effect.

Additionally, Brian James, who has worked with Ironveld since 2012, and has extensive experience in public company reporting, has agreed to take on the role as Acting Group CFO in a non-Board capacity in order to provide support and mentorship over a transitional period of around 12 months, following which it is anticipated that Ms Ratlhagane will become Group CFO.

Giles Clarke, Chairman of Ironveld, said: "Following the recent rapid growth in the Company's operations, the Board has decided to establish a more visible financial reporting structure for shareholders going forward, hence the appointment of Malebo as Deputy Group CFO and Brian as Acting Group CFO. As noted, we expect Malebo to become Group CFO after a transitional period of around 12 months."

Malebo Ratlhagane has acted as Head of Finance for all of the Ironveld Group's South African entities since 2022 and has been with the Company since 2014. She is a Certified Professional Accountant and a member of the South African Institute of Professional Accountants.

Brian James is currently UK Head of Finance for Ironveld Plc and Company Secretary. He is a Chartered Certified Accountant who has acted in senior financial roles for a number of public companies over the last 12 years, including Amerisur Resources where he was employed from 2011 to its sale in January 2020.

In due course it is the Board's intention to promote further members of the South African Executive team to ensure that the Plc Board more fully represents the day-to-day operations of the Company and the senior employees.

Regulatory disclosures

The following information is disclosed pursuant to Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies in relation to Ms Elizabeth Malebo Ratlhagane, aged 39:

Current Directorships

None

Directorships within the past 5 years:

None

At the date of this announcement, Malebo holds options over a total of 3,000,000 new ordinary shares of 0.1 pence each in the Company, representing 0.08 per cent. of the Company's issued share capital.

Ironveld confirms that there are no other disclosures to be made pursuant to Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies with respect to Ms Malebo Ratlhagane.

For further information, please contact:

Ironveld plc Martin Eales, Chief Executive Officer	c/o BlytheRay 020 7138 3204
finnCap (Nomad and Broker) Christopher Raggett Charlie Beeson	020 7220 0500
Turner Pope (Joint Broker) Andy Thacker James Pope	020 3657 0050
BlytheRay Megan Ray Tim Blythe	020 7138 3204

NOTES TO EDITORS

Ironveld (IRON.LN) is the owner of Mining Rights over approximately 28 kilometres of outcropping Bushveld magnetite with a SAMREC compliant ore resource of some 56 million tons of ore grading 1,12% V2O5, 68,6% Fe2O3 and 14,7% TiO2.

In 2022 Ironveld agreed to acquire and refurbish a smelter facility in Rustenburg, South Africa, in which it can process its magnetite ore into the marketable products of high purity iron, titanium slag and vanadium slag. This transaction became unconditional in March 2023.

Ironveld is an AIM traded company. For further information on Ironveld please refer to www.ironveld.com.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.

 

END