Last checked at 9 Jan 2017 07:00
9 January 2017
Ferrum Crescent Limited
("Ferrum Crescent", the "Company" or the "Group")(ASX, AIM, JSE: FCR)
Contract of employment for Executive Chairman and Appointment of Project Manager
Ferrum Crescent, the ASX, AIM and JSE quoted metals project developer, announces that the Company's Executive Chairman, Justin Tooth, has entered into a contract of employment, with the Company, to replace the interim arrangements agreed at the time of his appointment.
In accordance with ASX Listing Rule 3.16.4, the Company advises the following material terms of Mr Tooth's employment agreement:
1. Base salary of GBP125,000 per annum, excluding statutory contributions to National Insurance and Pension required under UK Law.
2. The contract has no fixed term and may be terminated by either party on three months' notice (or in the case of termination by the Company, payment in lieu of such notice).
3. Mr Tooth will be eligible to participate in employee incentive schemes operated by the Company from time to time on such terms as the Board may decide.
The Company also announces the appointment of Mr Merlin Marr-Johnson to the position of Project Manager with his principal responsibilities being the progression of the lead-zinc portfolio of projects held by the Company.
Mr Marr-Johnson has over 20 years' experience as a field geologist, mining analyst and resources fund manager. He is a Spanish speaker and has overseen exploration programmes in South America, Sub-Saharan Africa and Central Asia. Mr Marr-Johnson had previously been engaged as a technical consultant on the Toral and Lago projects.
For further information on the Company, please visit www.ferrumcrescent.com or contact:
Ferrum Crescent Limited
Justin Tooth, Executive Chairman
Grant Button, Director and Company Secretary T: +61 8 9474 2995
UK enquiries:
Laurence Read (UK representative) T: +44 7557 672 432
Strand Hanson Limited (Nominated Adviser)
Rory Murphy/Matthew Chandler T: +44 (0)20 7409 3494
Beaufort Securities Limited (Broker)
Elliot Hance T: +44 (0)20 7382 8300
Bravura Capital (Pty) Ltd (JSE Sponsor)
Doné Hattingh T (direct): +27 11 459 5037
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ('MAR').