Business
Board Appointment
Board Appointment.
About this update from Kodal Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 9055W Kodal Minerals PLC 20 November 2017 \n\nKodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining\n \n20 November 2017\nKodal Minerals plc ('Kodal Minerals' or 'the Company')\n \nBoard Appointment\n \nKodal Minerals plc, the AIM quoted mineral exploration and development company, is pleased to announce the appointment of Dr Qingtao Zeng to the Kodal Board as a non-executive Director with immediate effect. Dr Zeng is the appointed representative of Suay Chin International Pte (\"Suay Chin\") which recently completed its subscription to take a 20 per cent shareholding in the Company.\n \nDr Zeng completed a PhD in geology at the University of Western Australia in 2013. Dr Zeng has been engaged as a consulting geologist, principally working with CSA Global based in Perth, Australia, and has a range of geological and commercial specialities. Since 2015, Dr Zeng has been extensively involved in the lithium exploration and development sector and through his strong network of contacts throughout China has helped clients complete a range of contracts relating to the supply or purchase of lithium in the form of concentrate or direct shipping ores.\n \nCommenting on the appointment, Robert Wooldridge, Chairman, said \"We are delighted to welcome Qingtao to our Board as further demonstration of the support and cooperation from Suay Chin. Qingtao is an experienced mining consultant and his knowledge and advice will be of great benefit to the Company as we continue to explore and develop our Bougouni lithium project in Mali.\"\n \nUnder the Relationship Agreement between the Company and Suay Chin, Suay Chin has the right to Board representation for as long as it holds not less than 12 per cent of the issued share capital of the Company. In addition, Dr Zeng has been granted options over 10 million ordinary shares of the Company. These options are exercisable at a price of 0.38 pence per share, being the same price as the recent subscription to shares by Suay Chin, and have a life of 5 years from grant. 50 per cent. of the options are exercisable immediately, with a further 25 per cent. becoming exercisable after one year and the remaining 25 per cent. becoming exercisable in two years' time.\n \nAIM rules disclosures\n \nDr Qingtao Zeng, ag...