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10 Nov 2020 07:00
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations ("MAR") (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
10 November 2020
Beowulf Mining plc
("Beowulf" or the "Company")
Board Changes
Beowulf (AIM: BEM; Spotlight: BEO), the mineral exploration and development company, announces that Göran Färm today steps down as Non-Executive Chairman of the Company. The Board is grateful for Mr Färm's hard work and efforts since his appointment in October 2017 and wishes him well for the future. The Company is pleased to announce that Mr Sven Littorin will be appointed to the Board as Non-Executive Chairman of the Company, effective immediately.
Mr Littorin is a former politician and Sweden's Minister for Employment from 2006 to 2010. Since leaving government, he co-founded his own real estate development company and has held a number of advisory positions across Europe, North America and the Middle East. Most recent positions include serving as a member of the Advisory Board of Gravitas in Austria, a Partner with The Labyrinth Public Affairs in Sweden, and an Advisor to the Human Resources Development Fund in Saudi Arabia. Mr Littorin holds a BSc in Economics and Business from Lund University.
Kurt Budge, Chief Executive Officer of Beowulf, commented:
"I am very pleased to welcome Sven Otto Littorin as Beowulf's new Chairman and, on behalf of the Board, I would again like to thank Göran Färm for his valued support over the last three years.
"As Beowulf is almost 68 per cent owned by Swedish shareholders, the foundation of the Company's asset base remains the Kallak Iron Ore Project, and following the announced Capital Raising, Sven Otto Littorin's appointment is very timely and serves to maintain our strong market presence and the sustainable development of our mining business."
Sven Otto Littorin, Beowulf's Chairman Designate, commented:
"I am very pleased to join the Board as Chairman of Beowulf Mining plc. Beowulf aims to be a valuable partner in Swedish mining innovation, fossil-free enterprise, sustainable development and the Circular Economy. As such, it is a cornerstone of the foundation on which Jokkmokk's and indeed Norbotten's future could be built. I am very pleased to be a part of this future."
Mr Sven Otto Julius Littorin, aged 54, currently holds or has held the following directorships and partnerships in the last five years:
Current directorships/partnerships | Previous directorships |
Gibran Associates Ltd | Serio Samhällsbyggnad AB |
Gibran Management FZ-LLC | Serio Real Estate Developments AB |
N Home D Sweden AB | Serio Government Affairs AB |
N Home D1 Sweden AB | Serio Danmark ApS |
Nordic Sustainability Trade Organisation | Serio Care AB |
The Labyrinth Public Affairs | Afripods AB |
Reinhold Europe AB |
Mr Littorin holds no ordinary shares or options in the Company.
Other than as provided in this announcement, no other disclosures in relation to Mr Littorin are required under Rule 17 and schedule 2 (g) of the AIM Rules for Companies.
Enquiries:
Beowulf Mining plc | |
Kurt Budge, Chief Executive Officer | Tel: +44 (0) 20 3771 6993 |
SP Angel Corporate Finance LLP (Nominated Adviser & Broker) | |
Ewan Leggat / Stuart Gledhill /Adam Cowl | Tel: +44 (0) 20 3470 0470 |
Blytheweigh | |
Tim Blythe / Megan Ray | Tel: +44 (0) 20 7138 3204 |
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