RE: CGT under review11 Nov 2020 15:07
Thanks CAW,
As you are aware, our Company is now in an offer period and has appointed several professional advisers including UBS on investment banking side and recently DLA Piper on the legal side to work with the Company through the sale process. This strategic decision was the culmination of many years of hard work by our team in realising the value in our projects. With the final approval of the Flanks license surrounding Monchetundra, the Company has been successful in establishing a dominant position and a first mover advantage in Kola PGM, which, coincident with developments in the PGM market, has spurred interest in the Company.
The board and executive team have now been restructured to fully focus on the sale process.
6 full weeks of DLA Piper by Monday........
Eurasia Mining plc, the palladium, platinum, rhodium, iridium and gold producing company, operating the established West Kytlim Mine in the Urals, and also the operator of the Monchetundra Project comprising two predominantly palladium open pit deposits near base metal and PGM processing facilities close to the town of Monchegorsk on the Kola Peninsula, is pleased to announce the appointment of James Nieuwenhuys, formerly a Non-Executive Director, as Chief Executive Officer and Executive Director of the Company with immediate effect. Christian Schaffalitzky remains as Executive Chairman. The Directors have agreed to release Dmitry Suschov from the Board in order to allow him to focus as the Company's Chief M&A Officer on the M&A work streams with Eurasia's professional advisers.
8 weeks since the board changes for the MandA process....
Appointment of UBS to run formal sale process under the Takeover Code
Eurasia Mining Plc ("Eurasia" or the "Company"), the palladium, platinum, rhodium, iridium and gold producing company, operating the established West Kytlim Mine in the Urals, and also the operator of the Monchetundra Project comprising two predominantly palladium open pit deposits, today announces that further to previously announced strategic review of its business in order to maximise value for its shareholders it is launching a Formal Sale Process under the UK Takeover Code.
18 weeks since the announcement of the FSP......
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