Kennedy Ventures PLC Appointment of new Chief Executive Officer (5952T)
January 09 2017 - 2:00AM
UK Regulatory
TIDMKENV
RNS Number : 5952T
Kennedy Ventures PLC
09 January 2017
9 January 2017
Kennedy Ventures plc
Appointment of new Chief Executive Officer
Kennedy Ventures plc ("Kennedy Ventures" or "the Company"), the
AIM quoted investment company, who through its stake in African
Tantalum (Pty) Limited ("Aftan") has an interest in the Tantalite
Valley Mine ("TVM") in Namibia, is pleased to announce the
appointment of Mr Larry F. Johnson as a director and the new Chief
Executive Officer of Kennedy Ventures with immediate effect. Mr
Johnson replaces Peter Hibberd who steps down from the role.
Larry Freeman Johnson, aged 58, has more than 25 years'
experience in the tantalum industry having worked with two large US
based publicly listed companies with core interests in tantalum.
Throughout his career, Larry has held several senior key positions,
most recently as Director: Mining and Global Tantalum Supply Chain
at KEMET Electronics Corporation. Significantly, Larry spent
several years focussing on the development of conflict-free global
supply chains, which will be of material benefit for the Company's
investee, Aftan. Larry's knowledge of the world tantalum market
will enable the Company to consider its future investment strategy
as it grows, facilitating further investments in the sector. Larry
will be based in Windhoek, Namibia, where he will be seeking
further investment opportunities and managing the Company's
investment in Aftan.
Peter Hibberd has been with the Company for two years and steps
down from the board to pursue other business interests.
Giles Clarke, Chairman of Kennedy Ventures said:
"I am very pleased to welcome Larry to the Company, particularly
given the unique skill set he will bring with him in the very
specialist sector in which we have invested. Larry's global
experience in handling supply chains of conflict-free tantalum will
provide the Company, and its investee Aftan, with significant
experience as Aftan seeks access to invaluable routes to revenue
and Kennedy Ventures seeks further investments in the tantalite
space. This will be of material benefit to Aftan following the TVM
plant expansion, as ramp up concludes and it sees an increase in
production of high grade tantalite. I look forward to working
closely with Larry.
On behalf of the Board I would like to thank Peter for his
significant contribution during his tenure and wish him all the
best in his future endeavours."
Larry F. Johnson, CEO of Kennedy Ventures said:
"I am very excited to be joining Kennedy Ventures at this time
and am looking forward to working closely with the existing
management team and with Aftan. The recent investment we made in
Aftan has allowed it to expand and update the plant at the TVM, as
well as open the orebody, providing for increased throughput and
output. I look forward to seeking additional investment
opportunities to drive the Company and its investees forward in its
next phase."
In relation to the appointment of Mr Johnson, there is no
further information to be disclosed under AIM Rule 17 and paragraph
(g) of Schedule Two of the AIM Rules for Companies.
For further information on the Company, visit:
www.kvplc.com:
Kennedy Ventures plc
Larry Johnson (CEO), c/o Tel: +44 (0)203 757
Camarco 4983
Grant Thornton UK LLP (Nominated Tel: +44 (0)20 7383
Adviser) 5100
Colin Aaronson
Richard Tonthat
Daniel Bush
Shore Capital (Broker) Tel: +44 (0) 207
Mark Percy / Toby Gibbs 408 4090
(corporate finance)
Jerry Keen (corporate broking)
Camarco (PR) Tel: +44 (0) 203
Gordon Poole / Billy Clegg 757 4980
The information contained within this announcement is considered
to be inside information, for the purposes of Article 7 of EU
Regulation 596/2014, prior to its release.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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