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RNS Number : 0869U
Sirius Minerals Plc
27 July 2015
27 July 2015
Sirius Minerals Plc
Non-executive director changes
-- Board changes to increase board independence
-- Christopher Catlow and Peter Woods have stepped down from the
board, with Peter Woods remaining as a consultant to the
Company
-- Noel Harwerth and Jane Lodge have been appointed to the board
as independent non-executive directors
The directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY)
("Sirius" or the "Company") announce non-executive director
changes.
Following the recent positive resolution of the key approvals
processes for the York Potash Project ("the Project") the intensity
of the Company's board activity will be increasing. Sirius has
taken the opportunity to restructure its board with Chris Catlow
and Peter Woods stepping down and two new UK-based independent
non-executive directors, Noel Harwerth and Jane Lodge, appointed.
As a result there is now a greater percentage of the board
comprising independent directors, further strengthening the
corporate governance of the Company.
These board changes are part of the Company's preparation to
achieve its medium-term goal of moving to a Main Market listing on
the London Stock Exchange. Sirius is continuing its ongoing
analysis of the options, processes and timing for such a potential
move, as any change may coincide with, or result from, one of the
possible financing methods for the Project.
Russell Scrimshaw, Chairman of Sirius said:
"Chris and Peter have played integral roles in the recent
development of Sirius and on behalf of the entire Company I would
like to offer both of them our sincere thanks for their
contributions.
"Noel and Jane bring a wealth of experience to the board, both
in terms of industry and corporate governance, and I look forward
to their contribution to the Company during the next phases of its
development."
Retiring non-executive directors
The Company's increasing board meeting requirements in the UK
have led Christopher James Catlow, 54, deputy chairman, who is
resident in Australia, to retire from the board with immediate
effect after five years of service. He said:
"It's been a privilege to be part of such an exciting Company
and one with a very bright future ahead of it. I will remain a keen
supporter as the Company progresses towards production and the
realisation of its goals."
Peter John Esdaile Woods, 77, non-executive director, has also
decided to step down from the board with immediate effect after
over four years of service. Peter will remain involved with the
Company as a consultant. He said:
"I'm delighted to have been so involved with Sirius since the
inception of the York Potash Project.
"I look forward to continuing to offer my experience and
knowledge of potash mining, deep shaft-sinking, tunnelling, the
local geology and the local area as the Project moves through its
construction and development phases."
New non-executive directors
Elizabeth Noel Harwerth ("Noel"), 67, has been appointed as a
non-executive director with immediate effect. She has also been
appointed as a member of the nominations and audit committees.
Noel, whose executive background is in international banking,
was formerly Chief Operating Officer and Chief Tax Officer of
Citibank International. Noel is also a highly experienced
non-executive director who has sat on a number of boards in a
variety of different sectors, including mining and finance industry
companies and will bring with her a wealth of knowledge and
understanding in mining, finance and governance issues.
Jane Ann Lodge, 60, has been also appointed as a non-executive
director with immediate effect. Jane has been appointed as chairman
of the audit committee and will be a member of the remuneration
committee.
After an academic background in geology, Jane's executive career
was primarily in professional services, where she was a partner at
Deloitte. An audit partner for 25 years, her roles also included
being Deloitte's Midlands Practice Senior Partner and Lead Partner
for the National Manufacturing Industry. As Manufacturing Industry
Leader, she represented the UK on the Deloitte Global Manufacturing
Industry Executive and was a member of the CBI Manufacturing
Council.
During her 35 year career with Deloitte, Jane advised
multinational businesses in the construction, financial services,
manufacturing, property and house building sectors. Since 2012 she
has served as a non-executive director on a number of publicly
listed companies, including engineering based companies. Jane
brings with her valuable experience, particularly in relation to
financial governance and audit oversight.
Directorships currently held or previously held in the last five
years by Noel Harwerth are as follows:
Current
-- GE Capital Bank Ltd Chairman
-- London Metal Exchange
-- Standard Life plc
-- Sumitomo Mitsui Bank Europe
-- Alent plc
Previous
-- Avocet Mining PLC
-- Dominion Diamond Corp
-- RSA Insurance Group plc
-- Logica plc
-- The Tote
Noel has a beneficial interest in 13,561 ordinary shares in the
Company.
There is no further information on Noel Harwerth required to be
disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM
Rules for Companies.
Directorships currently held or previously held in the last five
years by Jane Lodge are as follows:
Current
-- Devro plc
-- Costain Group plc
-- DCC plc
-- Stemcor Holdings Limited
-- Ives Estates Ltd
-- Ives Ventures Ltd
-- Bromsgrove School Foundation (Trustee)
Previous
-- Deloitte LLP
-- Black Country Living Museum Trust Ltd
Jane has a beneficial interest in 100,000 ordinary shares in the
Company.
There is no further information on Jane Lodge required to be
disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM
Rules for Companies.
For further information, please contact:
Sirius Minerals Plc
Investor Relations Email: ir@siriusminerals.com Tel: +44 845
524 0247
--------------------------- ------------------------------- -------------------
Joint Brokers
Liberum Capital Limited Clayton Bush Tel: +44 20 3100
2222
Macquarie Capital (Europe) Ken Fleming, Nick Tel: +44 20 3037
Limited (NOMAD) Harland, Nick Stamp 2000
WH Ireland Adrian Hadden Tel: +44 20 7220
1666
--------------------------- ------------------------------- -------------------
Media Enquiries Jos Simson, Mike Tel: +44 20 7920
Tavistock Bartlett, 3150
Emily Fenton
--------------------------- ------------------------------- -------------------
Warrant Trading Enquiries
Liberum Capital Limited Simon Smith Tel: +44 20 3100
2171
--------------------------- ------------------------------- -------------------
About Sirius Minerals Plc
Sirius Minerals is a fertilizer development company focused on
the development of the York Potash Project in the United Kingdom,
which has the world's largest and highest grade deposit of
polyhalite, a multi-nutrient form of potash containing potassium,
sulphur, magnesium and calcium. Incorporated in 2003, Sirius
Minerals' shares are traded on the London Stock Exchange's AIM
market. Its shares are also traded in the United States on the
OTCQX through a sponsored ADR facility. Further information on the
Company can be found at: www.siriusminerals.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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