Senior Management Appointments and Conditional RSU Awards
14 October 2023 - 3:54AM
(“
Amaroq,” “
Company” or the
“
Corporation”)
Senior Management Appointments and
Conditional RSU Awards
TORONTO, ONTARIO – October 13, 2023 – Amaroq
Minerals Ltd. (AIM, TSXV, NASDAQ Iceland: AMRQ), an independent
mine development corporation with a substantial land package of
gold and strategic mineral assets across in Southern Greenland, is
pleased to provide an update on senior management appointments.
Appointment of Executive Vice
President
Joan Plant has been appointed Executive Vice
President. Joan has 13 years of experience operating in Greenland,
and has worked on the Nalunaq project since 2010. During this time,
she has built a strong relationship with the Government of
Greenland whilst successfully applying her in-depth knowledge and
expertise covering all aspects of the mining licencing, governance
and monitoring processes.
Joan has been a member of the Amaroq team since
the Company’s inception in 2017, and has played an integral part in
facilitating its growth. As VP ESG and Corporate Secretary she has
driven the Company’s Sustainability initiatives in Greenland, and
has assumed responsibility for community engagement and local
programmes. Joan is a member of the Greenland Business Association
Industry Committee for Mineral Exploration and Extraction
2022-2024.
Prior to this, Joan worked for 14 years in
various positions at Barclays Bank, including becoming the Change
Manager responsible for 13 sites, before moving to a Project
Manager role at Barclays’ head office.
In her new role, Joan will be responsible for
overseeing strategic initiatives, driving growth and development,
and overseeing the group’s Sustainability programmes. She will play
a pivotal role in guiding the Company's vision to create a
Greenlandic legacy, and ensuring its continued success.
Appointment of Corporate
Secretary
Anna Solotova, VP Corporate Legal, has been
appointed Corporate Secretary following Joan’s appointment. She
will assume responsibility for corporate governance oversight,
compliance management, and ensuring the Company’s adherence to
regulatory requirements in all jurisdictions where the Company is
listed. Anna is a highly experienced corporate law and governance
professional. Prior to joining Amaroq in 2022 Anna served as
Corporate Secretary and head of Corporate governance team for
Polyus Group, supporting the company on major stock exchanges. She
is an Associate member of the Chartered Governance Institute.
Conditional Award under RSU
Plan
On 13 October 2023 Amaroq Minerals made an award
(the “Award”) under the RSU Plan as detailed below. The Award
consists of a conditional right to receive value if the future
performance targets, applicable to the Award, are met. Any value to
which the participants are eligible in respect of the Award will be
granted as Restricted Share Units (each an “RSU”), with each RSU
entitling a participant to receive common shares in the Company.
Each RSU will be granted under, and governed in accordance with,
the rules of the Company's Restricted Share Unit Plan (the “RSU
Plan”).
The RSU Plan was approved by the Company's
shareholders at the AGM held on 15 June 2022. Full details of the
RSU Plan are published on the Company's website at
https://www.amaroqminerals.com/about/corporate-governance/
The details of the Award are as follows:
Award Date |
13 October 2023 |
Initial Price |
CAD 0.552 |
Hurdle Rate |
10% p.a. above the Initial Price |
Total Pool |
10% of the growth in value above the Hurdle rate, not exceeding 10%
of the Company’s share capitalThe number of shares will be
determined at the Measurement Dates |
Participant proportion |
Edward Wyvill, Corporate Development
10% |
Performance Period |
1 January 2022 to 31 December 2025 (inclusive) |
Normal Measurement Dates |
First Measurement Date: 31 December 2023, 50% vesting on the first
anniversary of grant, with the remaining 50% vesting on the third
anniversary of grant.Second Measurement Date: 31 December 2024, 50%
vesting on the first anniversary of grant, with the remaining 50%
vesting on the second anniversary of grant.Third Measurement Date:
31 December 2025, vesting on the first anniversary of grant. |
Enquiries:
Amaroq Minerals Ltd.Eldur
Olafsson, Executive Director and CEO eo@amaroqminerals.com
Eddie Wyvill, Corporate Development+44 (0)7713
126727ew@amaroqminerals.com
Stifel Nicolaus Europe Limited
(Nominated Adviser and Broker)
Callum StewartVarun TalwarSimon MensleyAshton
Clanfield+44 (0) 20 7710 7600
Panmure Gordon (UK) Limited (Joint
Broker)
John PriorHugh RichDougie Mcleod+44 (0) 20 7886
2500
Camarco (Financial PR)
Billy CleggElfie KentCharlie Dingwall+44 (0) 20
3757 4980
For Corporation updates:
Follow @Amaroq_Minerals on X (Formerly known as
Twitter)
Follow Amaroq Minerals Ltd. on LinkedIn
Further Information:
About Amaroq Minerals
Amaroq Minerals' principal business objectives
are the identification, acquisition, exploration, and development
of gold and strategic metal properties in Greenland. The
Corporation's principal asset is a 100% interest in the Nalunaq
Project, an advanced exploration stage property with an
exploitation license including the previously operating Nalunaq
gold mine. The Corporation has a portfolio of gold and strategic
metal assets in Southern Greenland covering the two known gold
belts in the region. Amaroq Minerals is incorporated under
the Canada Business Corporations Act and wholly owns
Nalunaq A/S, incorporated under the Greenland Public Companies
Act.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Inside Information
This announcement does not contain inside
information.
- Amaroq - Senior Management Appointments and Conditional RSU
Awards
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