Pathfinder Minerals Plc Directorate Change (4798S)
17 March 2021 - 6:00PM
UK Regulatory
TIDMPFP
RNS Number : 4798S
Pathfinder Minerals Plc
17 March 2021
17 March 2021
Pathfinder Minerals Plc
("Pathfinder" or the "Company")
Board Changes
Pathfinder is pleased to announce the appointment of Mr Jonathan
Summers as an independent Non-Executive Director with immediate
effect.
Mr Summers brings over 25 years of international business
experience. He is a former Managing Director at Goldman Sachs,
mainly in Europe, having spent 15 years at the firm from 1996 to
2011. He was Founding Partner and Head of Business Development for
Everett Capital Advisors, a US$700 million London-based investment
fund, and Founding Principal and Head of Business Development for
Myriad Asset Management, a US$5 billion Hong Kong-based
multi-strategy asset management firm. An active private investor in
several fast-growing technology companies, Mr Summers is currently
the chairman of EXMceuticals Inc., a Canadian-listed medical
cannabis company, as well as on the advisory board for Mocha
Holdings LLC, a privacy-focused ecommerce business. Mr Summers
holds a master's degree in Modern History (1st class) from the
University of Oxford.
At the Board's request and to enable the Company to conserve
resources in the near to medium term, Mr Summers has agreed to
waive any salary for the first 12 months of his appointment.
The Board has awarded to Mr Summers options over 6,000,000
ordinary shares of the Company at 0.55 pence per ordinary share,
exercisable for a period of two years from date of issue. Options
over a further 6,000,000 ordinary shares of the Company will be
granted to Mr Summers, exercisable at a price of 1.25p, subject to
shareholders of the Company granting the directors the necessary
authorities. If the resolutions are passed at the forthcoming
general meeting of the Company to be held on 29 March 2021, the
1.25p options will be granted as soon as reasonably practicable
thereafter.
Further to Jonathan's appointment, the Company announces that Mr
John Taylor has stepped down as a Non-Executive Director of the
Company with immediate effect. Mr Taylor has confirmed to the
Company that he continues to intend to vote in favour of each of
the resolutions at the Company's forthcoming general meeting.
Further disclosures in relation to the appointment of Mr Summers
as required under AIM Rule 17 and Schedule Two, paragraph (g)
(i)-(viii) of the AIM Rules for Companies are included in the
appendix below.
Dennis Edmonds, Chairman of Pathfinder, commented:
"I am delighted to welcome Jonathan Summers to the Board. His
significant business experience will be beneficial to Pathfinder as
we move into a new chapter of assessing additional opportunities
for value creation, while continuing to advance our valuable
Bilateral Investment Treaty claim.
I would like to thank John Taylor for his contribution, both as
Chief Executive Officer and latterly as a Non-Executive
Director."
Enquiries:
Pathfinder Minerals Plc
Peter Taylor, Chief Executive Officer
Tel. +44 (0)20 3143 6748
Strand Hanson Limited (Nominated & Financial Adviser)
James Spinney / Ritchie Balmer / Jack Botros
Tel. +44 (0)20 7409 3494
Vigo Communications (Public Relations)
Ben Simons / Simon Woods
Tel. +44 (0)20 7390 0234
Email. pathfinderminerals@vigocomms.com
Novum Securities Limited (Corporate Broker)
Colin Rowbury / Jon Belliss
Tel. +44 (0)20 7399 9400
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations No. 596/2014 ("MAR").
Appendix - Appointment of Jonathan Summers
As required under AIM Rule 17, Jonathan William Summers (aged
49) has held the following directorships and/or partnerships in the
past five years:
Current Directorships/Partnerships Past Directorships/Partnerships (within
last 5 years)
Emoji Investments Limited Everett Capital Advisors UK LLP
----------------------------------------
EXMceuticals Inc. Peakpath Ventures Ltd
----------------------------------------
Alicorn IV (KNF I) LLP Soho Ventures LLP
----------------------------------------
Cobalt Data Centre 2 LLP Twofold First Services LLP
----------------------------------------
The Gala Film Partners,
LLP YPL Fenny Compton Ltd
----------------------------------------
EXM Management Limited
----------------------------------------
There is no further information to be disclosed in relation to
Mr Summers' appointment pursuant to AIM Rule 17 or Schedule Two,
paragraph (g) (i)-(viii) of the AIM Rules for Companies.
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END
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