Last checked at 27 May 2020 07:00
EURASIA MINING PLC
("Eurasia" or "the Company")
APPOINTMENT OF NOMINATED ADVISER AND JOINT BROKER
APPOINTMENT OF NON-EXECUTIVE DIRECTOR
UPDATE ON SUSPENSION OF TRADING ON AIM
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 predominately palladium open pit deposits located 3km away from Severonickel, one of Norilsk Nickel's largest base metals and PGM processing facilities, near the town of Monchegorsk on the Kola Peninsula, is pleased to announce the appointment of a nominated adviser and joint broker, the appointment of a non-executive director and an update on the continuing suspension of the Company's shares from trading on the AIM market.
APPOINTMENT OF NOMINATED ADVISER AND JOINT BROKER
Eurasia has appointed SP Angel Corporate Finance LLP ("SP Angel") as its nominated adviser and joint broker with immediate effect. SP Angel is considered an expert in the mining sector and acts for more than 30 mining companies quoted on London Stock Exchange markets.
APPOINTMENT OF NON-EXECUTIVE DIRECTOR
The Board of Eurasia Mining plc is pleased to announce the appointment of Iain Rawlinson as a non-executive director of the Company with immediate effect.
Iain is an experienced board member and a strategy consultant. He has a law degree from Cambridge University, is a qualified barrister, and is also an experienced corporate financier having started his career in investment banking with Lazard and Robert Fleming. Between 1994 and 2000 he developed Flemings' corporate finance team in South Africa, which advised on a wide range of mining sector M&A transactions in South Africa and London. He was one of the initial partners of Fleming Family & Partners (FF&P), leading the listing of Highland Gold PLC in 2002, and held a number of senior positions in FF&P until 2005.
Since then, he has held senior independent board appointments in the corporate sector - including Lithic Metals and Energy PLC (2007 to 2009), Dana Petroleum PLC (2005 to 2010), The Monarch Group (2009 to 2014), and Parkmead Group PLC (2010 to 2020), and charities - including Tusk Trust (Trustee from 2002 and Chairman from 2005 to 2013). He is currently a Non-executive Director of the Royal Bournemouth and Christchurch Hospitals NHS Foundation Trust (since 2017).
A list of Mr. Rawlinson's current directorships together with those held within the last five years is set out below:
Current Directorships | Previous Directorships/Partnerships over the past 5 years |
C. Sibbick & Co. Limited | IBTC Portsmouth |
Charles Sibbick Limited | The Parkmead Group Plc |
Crowdcaster Limited | VICO Partners Limited |
Online Digital Broadcasting Limited | VICO Partners Reserve LLP |
Online Radio Broadcasting Limited | |
Rawlinson Partners Limited | |
RBCH NHS Foundation Trust 3 | |
Sibbick Yachts Limited | |
StudyVox UK Limited | |
The Online Radio Broadcasting Foundation Limited | |
Walhampton School Trust Ltd |
David Ian Rawlinson (known as "Iain Rawlinson") (aged 61) does not own any shares in the Company and has confirmed that there is no further information to be disclosed pursuant to paragraph (g) of Schedule 2 of the AIM Rules.
UPDATE ON SUSPENSION OF TRADING
Following social media speculation, trading in the Company's ordinary shares was suspended on the AIM market on 11 February 2020, pending clarification of its relationship with CITIC, and an interim clarification was provided that the Company's relationship was with CITIC Merchant Co Limited ("CITIC Merchant") on 9 April 2020.
The Company will make a further announcement in due course regarding the status of CITIC Merchant's role and strategic options for the Company's current mining assets. The Company's shares remain suspended pending further notification.
Comment:
Christian Schaffalitzky, Executive Chairman commented: "The Directors are pleased to engage with SP Angel, a leading adviser to mining companies on the AIM market of the London Stock Exchange, as well as appropriately qualified with in-house mining sector expertise.
We are also delighted to welcome Iain to the Board, who as a qualified lawyer and M&A practitioner will strengthen our execution team, while we are making progress on our M&A plans."
ENQUIRIES:
Eurasia Mining Plc
Christian Schaffalitzky/ Keith Byrne
+44 (0)207 932 0418
SP Angel Corporate Finance LLP (Nomad and Joint Broker)
Ewan Leggat / David Hignell / Soltan Tagiev
+44 (0)20 3470 0470
Optiva Securities (Joint Broker)
Christian Dennis
Tel: +44 (0) 20 3137 1902
The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014