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Appointment of Non-Executive Director

RNS Number : 4170G
African Potash Ltd
03 March 2015
 

African Potash Limited / Index: AIM / Epic: AFPO / Sector: Mining

3 March 2015

African Potash Limited ('African Potash' or 'the Company')
Appointment of Non-Executive Director

 

African Potash, the AIM listed company focused on sub-Saharan potash assets, is pleased to announce the appointment of Mr. Christopher Cleverly to the board as a Non-Executive Director with immediate effect.  Mr. Cleverly, a barrister and African-focussed entrepreneur, will combine his extensive corporate experience and regional expertise to further support the Company's development objectives focussed on its Lac Dinga Potash Project in the Republic of Congo.

 

Mr. Cleverly was called to the Bar in 1990, and subsequently founded Trafalgar Chambers establishing himself as the youngest head of chambers in the last century.  In addition to his legal work, Mr. Cleverly is also the Chief Executive Officer of the Made in Africa Foundation, a UK non-profit organisation established to assist the development of the African continent by providing first-stage funding for the feasibility studies and business development of large-scale infrastructure projects based in the region. He is also a regular presenter on TV and radio, and a contributor to newspapers and magazines on subjects regarding Africa and African development.

 

African Potash CEO, Edward Marlow, said, "I am delighted to welcome Chris to the African Potash board.  During his illustrious legal and entrepreneurial career he has distinguished himself as an exceptional businessman and philanthropist, and I am confident that his extensive experience in Africa will be highly valuable as we progress development of our Lac Dinga Potash Project in the Republic of Congo."

 

Mr. Christopher John Cleverly (age 47) has or holds the following directorships and/or partnerships in the last 5 years:

 

Current

Past (within the past five years)

Onshore Energy Limited 

Aikan Capital Real Estate PLC

Comer Africa Real Estate Limited 

Bond Street Forex LLP

Aikan Capital Management Limited 

Made in Africa Exec Limited

Media Made in Africa Limited

Mountain Lion Limited

Verdant Vermillion Ventures Ltd

Proserv Capital Limited

Lion Mountain Oil Group plc

So Damn Clever Management Limited


Waterside Productions Limited


The Exchange West Africa Limited


Sweet Essentials International Limited


Made in Africa Capital Limited


SL Agriculture Limited


Frontier Fixed Income Ltd.


Clean Tech Partnership Rwanda Limited


Sweet China Trading Limited


Finnaust Mining PLC

 

In connection with his appointment, Mr. Cleverly has been granted options over 1 million ordinary shares in the Company (the 'Options'). The Options have been granted in accordance with and subject to the Company's share option scheme and are exercisable at a price per share of 0.9 pence between 27 August 2015 and 27 August 2020.  Mr. Cleverly has also been granted the following warrants to subscribe for new shares in the Company:

 

Warrant instrument

No. of Warrants

Exercise Price

Exercise Period

2p - May 2014

1,000,000

2p

Until 16 May 2016

5p - May 2014

10,000,000

5p

As above

7.5p - May 2014

1,500,000

7.5p

As above

10p - May 2014

2,000,000

10p

As above

 

Mr. Cleverly holds 3 million ordinary shares in the Company, representing 0.97% of the total issued share capital of African Potash.   

 

 

There is no further information on Mr. Cleverly required to be disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.

 

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For further information visit www.africanpotash.com or contact the following:

Ed Marlow

African Potash Limited

+44 (0) 20 7408 9200      

Stewart Dickson  (Corporate Finance)

Cantor Fitzgerald Europe

+44 (0) 20 7894 7000      

David Foreman (Corporate Finance)

Cantor Fitzgerald Europe

+44 (0) 20 7894 7000      

Jeremy Stephenson (Corporate Broking)

Cantor Fitzgerald Europe

+44 (0) 20 7894 7000      

Richard Greenfield

GMP Securities Europe LLP

+44 (0) 20 7647 2836      

Susie Geliher

St Brides Partners Ltd

+44 (0) 20 7236 1177      

Charlotte Heap

St Brides Partners Ltd

+44 (0) 20 7236 1177      

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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