RE: KDNC good news3 Sep 2019 14:45
MACARTHUR BUILDS ON ITS COMMERCIAL LEADERSHIP WITH THE APPOINTMENT OF EXECUTIVE GENERAL MANAGER
Macarthur Minerals Limited (TSX-V: MMS) (the “Company” or “Macarthur Minerals”) is pleased to announce the appointment of Andrew Bruton as the Executive General Manager, Corporate and new Company Secretary of Macarthur Minerals.
Mr Bruton has a long and respected career of over 20 years of top tier professional experience in corporate, mining, energy and infrastructure law. He has been recognised as a leading transactional and project lawyer in the mining and energy sectors in Australia.
In senior leadership roles, Andrew has been responsible for large teams at both State and National levels. He is also an experienced company director.
Having advised major Australian and international mining and energy companies on complex projects, and being a strategic thinker and leader with strong business acumen and a focus on delivering outcomes, he brings a wealth of expertise to Macarthur Minerals.
Andrew holds both a Bachelor of Laws and a Bachelor of Business (Accountancy) from the Queensland University of Technology.
Macarthur Minerals’ Executive Chairman, Cameron McCall commented that, “Andrew’s appointment into this role is at a very important juncture of the Company in the transition from explorer to developer of the Lake Giles Iron Ore Project. As the Company progresses towards the completion of the Bankable Feasibility Study, port, rail, financing, mining, construction, energy supply and numerous other commercial contracts will require negotiation and execution. Andrew’s wealth of experience will be invaluable in this next phase as the Company transitions to production.
“During the first half of 2019, Andrew worked through the development and execution of the Convertible Note documentations for the Company and in this process clearly demonstrated his commercial value to the Company. I whole heartedly welcome him to the Macarthur Team.”
GRANT SHARE BASED COMPENSATION
Pursuant to the Company’s Share Compensation Plans (“Plans”), the Board of Directors of the Company has granted an aggregate of 14,000,000 restricted share units (“RSUs”) to acquire common shares of the Company pursuant to the Plans, to Directors, various Employees and Consultants of the Company. The RSUs vest in the event that the closing share price of the Company’s shares on the TSX Venture Exchange is greater than C$0.08 for 20 consecutive trading days.
The RSUs are being issued under the terms of the Company’s Share Compensation Plans which were approved by shareholders at the Company’s Annual General Meeting on 30 August 2019.
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