Pathfinder Minerals Plc Transaction with a Related Party (4285O)
17 May 2018 - 8:04PM
UK Regulatory
TIDMPFP
RNS Number : 4285O
Pathfinder Minerals Plc
17 May 2018
17 May 2018
Pathfinder Minerals plc
("Pathfinder" or the "Company")
Transaction with a Related Party
Pathfinder notes recent online media allegations against its
chief executive officer, Nicholas Trew, in relation to a personal
loan application in 2016. The Company has investigated the matter
and is satisfied that Mr Trew provided relevant details in his loan
application and that there was no wrongdoing by Mr Trew.
In February 2016, Mr Trew elected to receive GBP7,450 of his
deferred salary entitlement and subsequently elected to return this
amount to the Company. As result of the investigation, the Company
announces that the return to the Company of this sum of deferred
salary entitlement constitutes a transaction with a related party
and should have been separately disclosed as such in the Company's
financial statements for the year ended 31 December 2016. This was
instead accounted for as part of the deferred salary owed to
directors in those financial statements. There is no interest
chargeable on this amount nor any set repayment date.
Enquiries:
Pathfinder Minerals Plc
Nick Trew, Chief Executive
Tel. +44 (0)20 3440 7775
WH Ireland Limited (Nomad and Corporate Broker)
James Joyce or Jessica Cave
Tel. +44 (0)20 7220 1666
Vigo Communications (Public Relations)
Ben Simons or Kate Rogucheva
Tel. +44 (0)20 7830 9700
Email. pathfinderminerals@vigocomms.com
Notes to Editors:
Pathfinder Minerals Plc is incorporated in England and is
admitted to trading on the AIM market of the London Stock
Exchange.
CMdN, a subsidiary of Pathfinder, was issued mining concession
licences 760C and 4623C on 13 September 2004 and 13 July 2011
respectively, each for a period of twenty-five years. Taken
together, these mining concessions cover approximately 32,000
hectares of land on the Indian Ocean coast of the Zambezia province
of Mozambique, known to contain the heavy minerals, ilmenite,
rutile and zircon.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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