Anglo Pacific Group PLC Board Changes (1819F)
February 16 2018 - 10:46AM
UK Regulatory
TIDMAPF
RNS Number : 1819F
Anglo Pacific Group PLC
16 February 2018
News Release
February 16, 2018
Anglo Pacific Group PLC
Board changes
Rachel Rhodes, non-executive director, has informed the Board
that she intends to step down from the Board of Anglo Pacific Group
PLC ("Anglo Pacific", "the Company") with effect from the
conclusion of the 2018 Annual General Meeting to be held on May 15,
2018, in order to devote more time to her other professional
commitments.
Mike Blyth will assume the role of Chair of the Audit Committee
with immediate effect, in addition to his role as Chair of the
Remuneration Committee. The Board will now commence the process of
seeking a replacement non-executive director and an announcement in
respect of any future appointment will be made in due course.
Patrick Meier, Chairman, commented:
"We are very sorry that Rachel will be leaving us and to lose
the valuable contribution she has made to our Board over the last
four years. Rachel has been a strong and constructive voice on the
Board, as well as being an effective Chair of the Audit Committee.
We wish her well in her future endeavours and will miss her wise
counsel."
Rachel Rhodes commented:
"It has been a pleasure to be part of Anglo Pacific's growth and
development over the past few years and a privilege to work
alongside such a fantastic team. I wish them all the best for the
future and look forward to watching the ongoing success of the
business."
End
Section 430(2B) Companies Act 2006 statement
In accordance with section 430(2B) of the Companies Act 2006,
the Company confirms that Rachel Rhodes will receive her annual
base fee as a non-executive director of the Company of GBP40,000
per annum, and additional fees in respect of being a committee
member and chair of the Audit Committee of GBP11,000 per annum
respectively, on a pro-rata basis up to and including her date of
resignation. No other remuneration payment or payment for loss of
office will be made.
For further information:
Anglo Pacific Group PLC +44 (0) 20 3435 7400
Patrick Meier - Chairman
Julian Treger - Chief Executive
Officer
Kevin Flynn - Chief Financial
Officer and Company Secretary
Website: www.anglopacificgroup.com
BMO Capital Markets Limited +44 (0) 20 7664 8020
Jeffrey Couch / Neil Haycock /
Tom Rider
Canaccord Genuity Limited +44 (0) 20 7523 8000
Martin Davison / James Asensio
Peel Hunt LLP +44 (0) 20 7418 8900
Ross Allister / Chris Burrows
Redleaf Communications +44 (0) 20 3757 6880
Charlie Geller / Fiona Norman
/ Ian Silvera
Notes to Editors
About Anglo Pacific
Anglo Pacific Group PLC is a global natural resources royalty
company. The Company's strategy is to develop a leading
international diversified royalty company with a portfolio centred
on base metals and bulk materials, focusing on accelerating income
growth mainly through acquiring royalties on projects that are
currently cash flow generating or are expected to be within the
next 24 months, as well as investment in earlier stage royalties.
It is a continuing policy of the Company to pay a substantial
portion of these royalties to shareholders as dividends.
Cautionary statement on forward-looking statements and related
information
Certain information contained in this announcement, including
any information as to future financial or operating performance and
other statements that express management's expectation or estimates
of future performance, constitute "forward looking statements". The
words "expects", "anticipates", "plans", "believes", "estimates",
"seeks", "intends", "targets", "projects", "forecasts", or negative
versions thereof and other similar expressions identify
forward-looking statements. Forward-looking statements are
necessarily based upon a number of estimates and assumptions that,
while considered reasonable by management, are inherently subject
to significant business, economic and competitive uncertainties and
contingencies. Further, forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties which could cause actual results to differ materially
from those anticipated, estimated or intended in the
forward-looking statements. Furthermore, this announcement contains
information and statements that are based on certain estimates and
forecasts that have been provided to the Group by Kestrel Coal Pty
Ltd ("KCPL"), the accuracy of which KCPL does not warrant and on
which readers may not rely. The material assumptions and risks
relevant to the forward-looking statements in this announcement
include, but are not limited to: stability of the global economy;
stability of local government and legislative background;
continuing of ongoing operations at the properties underlying the
Group's portfolio of royalties in a manner consistent with past
practice; accuracy of public statements and disclosures (including
feasibility studies and estimates of reserve, resource, production,
grades, mine life, and cash cost) made by the owners and operators
of such underlying properties; accuracy of the information provided
to the Group by the owners and operators of such underlying
properties; no material adverse change in the price of the
commodities produced from the properties underlying the Group's
portfolio of royalties and investments; no material adverse change
in foreign exchange exposure; no adverse development in respect of
any property in which the Group holds a royalty or other interest,
including but not limited to unusual or unexpected geological
formations and natural disasters; successful completion of new
development projects; planned expansions or additional projects
being within the timelines anticipated and at anticipated
production levels; and maintenance of mining title. If any such
risks actually occur, they could materially adversely affect the
Group's business, financial condition or results of operations. For
additional information with respect to such risks and
uncertainties, please refer to the "Principal Risks and
Uncertainties" section of our most recent Annual Report on the
Group's website www.anglopacificgroup.com. Readers are cautioned to
consider these and other factors, uncertainties and potential
events carefully and not to put undue reliance on forward-looking
statements. The forward-looking statements contained in this
announcement are made as of the date of this announcement only and
the Group undertakes no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise, after the date on which the statements
are made or to reflect the occurrence of unanticipated events.
Third party information
As a royalty holder, the Group often has limited, if any, access
to non-public scientific and technical information in respect of
the properties underlying its portfolio of royalties, or such
information is subject to confidentiality provisions. As such, in
preparing this announcement, the Group has largely relied upon the
public disclosures of the owners and operators of the properties
underlying its portfolio of royalties, as available at the date of
this announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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