Last checked at 20 Nov 2017 07:00
Kodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining
20 November 2017
Kodal Minerals plc ('Kodal Minerals' or 'the Company')
Board Appointment
Kodal Minerals plc, the AIM quoted mineral exploration and development company, is pleased to announce the appointment of Dr Qingtao Zeng to the Kodal Board as a non-executive Director with immediate effect. Dr Zeng is the appointed representative of Suay Chin International Pte ("Suay Chin") which recently completed its subscription to take a 20 per cent shareholding in the Company.
Dr Zeng completed a PhD in geology at the University of Western Australia in 2013. Dr Zeng has been engaged as a consulting geologist, principally working with CSA Global based in Perth, Australia, and has a range of geological and commercial specialities. Since 2015, Dr Zeng has been extensively involved in the lithium exploration and development sector and through his strong network of contacts throughout China has helped clients complete a range of contracts relating to the supply or purchase of lithium in the form of concentrate or direct shipping ores.
Commenting on the appointment, Robert Wooldridge, Chairman, said "We are delighted to welcome Qingtao to our Board as further demonstration of the support and cooperation from Suay Chin. Qingtao is an experienced mining consultant and his knowledge and advice will be of great benefit to the Company as we continue to explore and develop our Bougouni lithium project in Mali."
Under the Relationship Agreement between the Company and Suay Chin, Suay Chin has the right to Board representation for as long as it holds not less than 12 per cent of the issued share capital of the Company. In addition, Dr Zeng has been granted options over 10 million ordinary shares of the Company. These options are exercisable at a price of 0.38 pence per share, being the same price as the recent subscription to shares by Suay Chin, and have a life of 5 years from grant. 50 per cent. of the options are exercisable immediately, with a further 25 per cent. becoming exercisable after one year and the remaining 25 per cent. becoming exercisable in two years' time.
AIM rules disclosures
Dr Qingtao Zeng, aged 34, is, or has during the last five years been, a director or partner of the following companies and partnerships:
Current directorships/partnerships | Past directorships/partnerships |
GeoSmart Consulting Pty Ltd Ruiyuan Australia Pty Ltd Kalgoorlie Treasure Resources Pty Ltd Mining Value Fund Pty Ltd | Prosper Minerals Pty Ltd (deregistered) |
**ENDS**
For further information, please visit www.kodalminerals.com or contact the following:
Kodal Minerals plc Bernard Aylward, CEO |
Tel: +61 418 943 345
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Allenby Capital Limited, AIM Nominated Adviser Jeremy Porter/Nick Harriss
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Tel: 020 3328 5656 |
SP Angel Corporate Finance LLP, Financial Adviser & Broker John Mackay
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Tel: 020 3470 0470 |
St Brides Partners Ltd, Financial PR Susie Geliher/Megan Dennison/Lottie Wadham
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Tel: 020 7236 1177 |
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Qingtao Zeng | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Non-Executive Director | ||||
b) | Initial notification/Amendment |
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3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Kodal Minerals plc | ||||
b) | LEI | 213800VKFS7TS32EGI81 | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the Financial instrument, type of instrument |
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Identification code | GB00BH3X7Y70 | |||||
b) | Nature of the transaction |
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c) | Price(s) and volume(s) |
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d) | Aggregated information: Aggregated volume Price | n/a | ||||
e) | Date of the transaction | 18 November 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||