Last checked at 9 Jun 2014 10:08
9 June 2014
Praetorian Resources Limited ("Praetorian" or the "Company")
Corporate update
Board changes and change of Nominated Adviser
The Company wishes to announce the following:
Board changes
Mark Hohnen and Richard Lockwood have stepped down from the Board. Mr. Lockwood will retain his position as an advisor to the Company as part of the Advisory and Execution Team alongside Charles Cannon-Brookes. The Chairman would like to thank both Mr Hohnen and Mr Lockwood, for their contribution to the Company since its incorporation in February 2012.
The Company is pleased to announce that Kaare Foy and Nathan Steinberg have been appointed to the Praetorian board with immediate effect.
Kaare Foy has a Bachelor of Economics degree and is also an Associate of the Australian Society of Accountants. Mr Foy specialises in company turnarounds with more than thirty years of experience serving on the boards of publicly listed companies in Australia, Canada and the United Kingdom. Mr. Foy was an executive director of Canadian based Great Panther Silver Limited, a silver producer, until the beginning of 2012 and is currently executive chairman of Cangold Limited, chairman of Viscount Mining Limited, a director of Golden Prospect Precious Metals Limited and Polar Star Mining Corporation.
Nathan Steinberg, FCA, FCCA, TEP is a partner in the London accountancy practice of Munslows LLP and has considerable public company experience. He previously served as the finance director of Pan African Resources plc and as the chairman of East West Resources plc. He is an experienced corporate and financial adviser and is a member of Council of the Institute of Chartered Accountants in England and Wales.
Information in respect of Kaare Foy and Nathan Steinberg as required by Schedule 2 paragraph (g) of the AIM Rules for Companies is set out at the end of this announcement.
Change of nominated adviser
The Company also wishes to announce the appointment of Grant Thornton UK LLP as the Company's nominated adviser ('NOMAD') with immediate effect.
Information required pursuant to Schedule 2 paragraph (g) of the AIM Rules for Companies
Nathan Anthony Steinberg, aged 60, is or has been a director of the following companies or a partner in the following partnerships in the last five years:
Current directorships and partnerships | Previous directorships and partnerships |
Munslows LLP (a partnership) | Ambrian Capital Limited |
Munslows Bushell Limited | Ambrian Metals Limited |
Secondcap Limited | Anouska Hempel Limited (Formerly Great Portland Street Agents Limited) |
Sovereign Mines of Africa Plc | Longships Plc |
Sovereign Mines of Guinea Limited | East West Resources Plc |
York Mineral Services Limited | INTL FCSTONE Limited (Formerly Ambrian Commodities Limited) |
Level E C 3 Limited (Alternate Director) | New World Investment Managers Limited (Formerly Ambrian Asset Management) |
Kaare Glenne Foy, aged 69, is or has been a director of the following companies or a partner in the following partnerships in the last five years:
Current directorships and partnerships | Previous directorships and partnerships |
Cangold Limited | Citicom Pty Limited |
Polar Star Mining Corporation | Great Panther Silver Limited |
Viscount Mining | |
Golden Prospect Precious Metals Limited | |
Contacts:
For further information, please contact:
Praetorian Resources Limited | Robert King, Chairman |
+44 (0) 1481 732 153 | |
Grant Thornton UK LLP (Nominated Adviser) | Colin Aaronson/David Hignell/Jamie Barklem |
+44 (0)20 7383 5100 | |
Pareto Securities Limited (Broker) | Guy Wilkes |
+44 (0)20 7786 4370 |