ICHOR Coal N.V.
ICHOR Coal N.V.: Shareholders elect new Supervisory and Management Board members
ICHOR Coal N.V. / Key word(s): AGM/EGM IchorCoal EGM: Shareholders elect new Supervisory and Management Board members – Edwin Eichler and Remy Grosjean appointed new members of the Supervisory Board – Nonkululeko Nyembezi-Heita elected as CEO, Andries Engelbrecht as COO – Regulation on the issue of shares adopted Berlin, 31 March 2014. IchorCoal N.V., an internationally operating mineral resource company, has elected in an Extraordinary General Meeting (EGM) held on 27 March new members of the Supervisory Board and the Management Board and adopted a new regulation on the issue of shares. The appointment of Rirhandzu Owner Siweya as member of the Supervisory Board was not taken to vote. All propositions were adopted by the shareholders with a majority of more than 99 percent. The attendance level was 66 percent. Edwin Eichler and Remy Grosjean were elected as new members of the Supervisory Board. Edwin Eichler is an executive director and CEO of the parent company Sapinda, the main shareholder of IchorCoal N.V. Remy Grosjean has been working for Sapinda UK Limited since 2009 and, among other positions, has been the Director of Sapinda South Africa Pty Limited since 31 January 2014. The new Chief Executive Officer of IchorCoal, Nonkululeko Nyembezi-Heita, has spent the last 6 years as the CEO of ArcelorMittal South Africa and before that was the Chief Corporate Strategy Officer at the Vodacom Group in South Africa. Her colleague Andries Engelbrecht, who was appointed as Chief Operating Officer, has 20 years of experience in the mining industry and most recently was the COO of Riversdale Mining Limited, responsible for all Africa-based projects. As regards agenda item 7 concerning the appointment of Rirhandzu Owner Siweya as a member of the Supervisory Board, it has been decided that the resolution to appoint Mr Siweya will not be put to vote due to internal discussions that are still on-going. The Supervisory Board is of the opinion that more time is needed to discuss the future position of Mr Siweya within Ichor Coal, also in the context of Mr Siweya’s current positions within Mbuyelo Coal. This means that Lars Windhorst will remain Chairman of the Supervisory Board. The appointment of Mr Siweya as member of the Supervisory Board will most likely be scheduled for a future shareholders’ meeting. The EGM further accepted all proposals concerning the issue of new ordinary shares (agenda items 2 to 6 of the EGM). The Management Board was granted the right to issue new shares of up to 10% of the issued capital. This right will be extended to an additional 10% in the event of a merger or acquisition. Further on the General Meeting allowed the Management Board to restrict or to exclude the pre-emptive rights of shareholders to subscribe for shares. The Management Board About IchorCoal N.V.: IchorCoal N.V. is an internationally operating mineral resource company specialising in investments in coal production. The company possesses its own coal resources and sells the produced coal on local and international markets. It currently holds two participations in South African mining companies. IchorCoal is headed by its CEO Nonkululeko Nyembezi-Heita, COO Andries Engelbrecht and CFO Sebastian Giese. Forward-looking statements This news release includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning estimates of expected mining and associated costs, statements relating to estimates of, and increases in, production, cash flows and values and other statements which are not historical facts. When used in this document, words such as “could,” “plan,” “estimate”, “expect”, “intend”, “may”, “potential”, “should” and similar expressions are forward-looking statements. Although IchorCoal believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the possibility that the Company’s projects will experience technological and mechanical problems, that geological conditions in the reservoir may not result in commercial levels, that changes in product prices can have a material impact and that IchorCoal fails to raise sufficient capital to adequately fund its activities. Contact: Thomas Luber End of Corporate News 31.03.2014 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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