Aurum Mining PLC Appointment of CEO and Grant of options (4028L)
October 03 2016 - 2:00AM
UK Regulatory
TIDMAUR
RNS Number : 4028L
Aurum Mining PLC
03 October 2016
3 October 2016
AURUM MINING PLC
("Aurum" or the "Company")
Appointment of CEO
Grant of options
Aurum Mining plc (AIM: AUR), the Spanish focused gold and
tungsten explorer, is pleased to announce the appointment of
Michael (Mo) Joseph Stevens as Chief Executive Officer with
immediate effect.
This announcement includes inside information as defined in
Article 7 of the Market Abuse Regulation No. 596/2014 and is
disclosed in accordance with the Company's obligations under
Article 17 of those Regulations.
Mr Stevens, aged 54, has held a number of senior leadership
roles with global and national businesses operating in security,
cyber, aerospace, defence and high technology sectors. This
includes over 25 years of experience with large global portfolio
businesses, where he has held Managing Director and CEO-level
positions. Most recently, Mr Stevens was Head of International
Market Development for Airbus Defence & Space, a role he
assumed after the integration of Cassidian UK, where he was
CEO.
As previously stated, and in response to the on-going
challenging market conditions in the Natural Resources sector, the
Board continues to pursue a process of transformation in order to
maximise potential returns to shareholders. As CEO, Mr Stevens will
be responsible for drawing on his diverse commercial skills,
including business growth, portfolio management and operations, to
help the Company identify attractive opportunities and achieve a
successful change in strategic direction.
David Williams, Chairman, commented: "I am really delighted to
welcome Mo as CEO. To have someone of his calibre and experience
means that we can now accelerate our plans to look at a range of
transformational opportunities, as we have set out in previous
statements. These opportunities will deliver a change in strategy
with a view to creating greater value for our loyal shareholders
and we will be looking to make other key Board appointments in due
course."
Mo Stevens, new CEO of Aurum, added: "I am really pleased to be
joining Aurum at what is an exciting time for the Company. The
Board's vision for taking the business forward to the next level is
clear and I am looking forward to using my experience in managing
and growing portfolio businesses to help transform the Company for
the benefit of its shareholders."
The following details in relation to the appointment of Mr
Stevens are disclosed in accordance with Schedule 2(g) of the AIM
Rules:
Current directorships Past directorships held
within the last five years
---------------------- ----------------------------
Airbus Group Endeavr Airbus DS Limited
Wales
Airbus Defence and Space
Limited
Cassidian Holdings Limited
Sika International Limited
Mr Stevens has an option over 10,000,000 Ordinary Shares,
exercisable at 1p, representing 3.40 per cent. of the Company's
current issued share capital.
There are no other disclosures in accordance with Schedule 2(g)
of the AIM Rules.
Grant of options
The Company announces that is has granted Chris Eadie, Director
and Sean Finlay, Non-executive Director options over 1,000,000
Ordinary Shares and 500,000 Ordinary Shares respectively of 1 pence
each in the capital of the Company. The options have an exercise
price of 1 pence per shares. All of the options shall vest and may
be exercised at any time.
In addition to their respective grant of options, Chris Eadie
has an interest in 4,500,001 Ordinary Shares and Sean Finlay has an
interest in 666,055 Ordinary Shares.
Contacts:
Aurum Mining plc www.aurummining.net
David Williams +44 (0) 797 014 8016
Chris Eadie +44 (0) 796 820 9298
WH Ireland Limited Nominated Adviser &
Broker
Mike Coe, Ed Allsopp +44 (0) 117 945 3470
Powerscourt aurum@powerscourt-group.com
Ben Griffiths, Andy
Jones +44 (0)20 7250 1446
Notes to Editors:
Aurum Mining is an AIM listed exploration and development
company focused on its highly prospective portfolio of gold and
tungsten assets in North West Spain.
Gold
Through its joint venture agreement with Ormonde Mining plc
(AIM: ORM), Aurum currently has a 56.5% interest in the Pino de Oro
project in Zamora Province and a 51.4% interest in the Peralonso
and Cabeza projects in Salamanca Province.
Tungsten
Aurum's 20% owned Morille Tungsten project is located
approximately 15km south west of Salamanca in North West Spain and
covers an area of 5,796 hectares. The permit area is a 'brownfield'
site with historical data indicating production from the site of
high quality tungsten concentrates.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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