25 Aug 2021 07:01
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
For immediate release
News Release
25 August 2021
Anglo Pacific Group PLC
Chief Executive Officer Transition
Anglo Pacific Group PLC ("Anglo Pacific" or the "Group") (LSE: APF, TSX: APY) announces that Julian Treger has indicated that he wishes to step down from his role as Chief Executive Officer ("CEO") in due course after eight years in the role. Mr Treger will remain as CEO, leading the team and the Group's strategic objectives as normal until 31 March 2022, thus ensuring a smooth transition to new leadership for Anglo Pacific.
Mr Treger joined Anglo Pacific in October 2013 and has been instrumental in leading the transition of the business away from coal and towards 21st century commodities aligned to the decarbonisation of energy which will be required to meet climate change goals.
He has led the Group's US$450m investments over the last eight years, including the transformative US$205m Voisey's Bay cobalt stream acquisition, which was completed in March 2021. These acquisitions now mean that over 60% of the Group's asset base by value are in base and battery metals.
Equally important, Mr Treger has built a strong team with considerable experience of originating, executing, and financing acquisitions, thereby ensuring that the business will continue to grow in the future.
In the meantime, the Nomination Committee has, in accordance with its succession planning framework, commenced a comprehensive search process to choose a new CEO and will update the market on progress in due course.
Commenting on his decision, Julian Treger, outgoing CEO:
"2021 has been truly transformational for Anglo Pacific, as we completed our largest ever acquisition in March of the Voisey's Bay cobalt stream. The Company has been transformed from predominantly a single producing royalty holder in 2013, which is when I took over, to a business with a stable revenue profile and exposure to commodities which should be key towards the transition away from fossil fuels and into cleaner energy and technology.
With an experienced management team in place, it now feels like the right time to hand over to somebody new and for me to pursue other business interests in due course. During the transition period, I will remain committed to all of our stakeholders and will give the Board and management all possible support during the succession process so we can find a suitable, new CEO to steer Anglo Pacific through its next phase of growth.
I have thoroughly enjoyed my time at Anglo Pacific, and I would like to thank my Board colleagues both past and present and the talented and dedicated team which I will leave behind. I strongly believe they will continue to grow the business into one of the leading royalties and streaming businesses globally."
Patrick Meier, Chairman, commented:
"I would like to thank Julian for his success in transforming the fortunes of Anglo Pacific. The business today is barely recognisable from that which he took over, and he had the vision and leadership to pivot towards commodities which will be vital to achieving climate change goals with sustainability firmly at the forefront. His commitment and astute investment skills have been key to our success.
On behalf of the Board, I would like to give our appreciation for all Julian has done in creating the Company which we are today. He will leave after the transition period with our very best wishes, and we have no doubt that he will continue to be successful in whatever he does next."
Enquiries:
Anglo Pacific Group PLC: Tel: +44 (0) 20 3435 7400 |
Julian Treger - Chief Executive Officer Kevin Flynn - Chief Financial Officer |
Notes to Editors
About the Company
Anglo Pacific PLC is a global natural resources royalty and streaming company. The Company's strategy is to become a leading natural resources company through investing in high quality projects in preferred jurisdictions with trusted counterparties, underpinned by strong ESG principles. It is a continuing policy of the Company to pay a substantial portion of these royalties and streams to shareholders as dividends.
Important Information
This Announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of the UK domestic law by virtue of the European Union (Withdrawal) Act 2018.