Appointment of new Chief Executive Officer

RNS Number : 5952T

Kennedy Ventures PLC

09 January 2017

 

9 January 2017

Kennedy Ventures plc

Appointment of new Chief Executive Officer

Kennedy Ventures plc ("Kennedy Ventures" or "the Company"), the AIM quoted investment company, who through its stake in African Tantalum (Pty) Limited ("Aftan") has an interest in the Tantalite Valley Mine ("TVM") in Namibia, is pleased to announce the appointment of Mr Larry F. Johnson as a director and the new Chief Executive Officer of Kennedy Ventures with immediate effect. Mr Johnson replaces Peter Hibberd who steps down from the role.

Larry Freeman Johnson, aged 58, has more than 25 years' experience in the tantalum industry having worked with two large US based publicly listed companies with core interests in tantalum. Throughout his career, Larry has held several senior key positions, most recently as Director: Mining and Global Tantalum Supply Chain at KEMET Electronics Corporation. Significantly, Larry spent several years focussing on the development of conflict-free global supply chains, which will be of material benefit for the Company's investee, Aftan. Larry's knowledge of the world tantalum market will enable the Company to consider its future investment strategy as it grows, facilitating further investments in the sector. Larry will be based in Windhoek, Namibia, where he will be seeking further investment opportunities and managing the Company's investment in Aftan.

Peter Hibberd has been with the Company for two years and steps down from the board to pursue other business interests.

Giles Clarke, Chairman of Kennedy Ventures said:

"I am very pleased to welcome Larry to the Company, particularly given the unique skill set he will bring with him in the very specialist sector in which we have invested. Larry's global experience in handling supply chains of conflict-free tantalum will provide the Company, and its investee Aftan, with significant experience as Aftan seeks access to invaluable routes to revenue and Kennedy Ventures seeks further investments in the tantalite space. This will be of material benefit to Aftan following the TVM plant expansion, as ramp up concludes and it sees an increase in production of high grade tantalite. I look forward to working closely with Larry.

On behalf of the Board I would like to thank Peter for his significant contribution during his tenure and wish him all the best in his future endeavours."

Larry F. Johnson, CEO of Kennedy Ventures said: 

"I am very excited to be joining Kennedy Ventures at this time and am looking forward to working closely with the existing management team and with Aftan. The recent investment we made in Aftan has allowed it to expand and update the plant at the TVM, as well as open the orebody, providing for increased throughput and output. I look forward to seeking additional investment opportunities to drive the Company and its investees forward in its next phase."

In relation to the appointment of Mr Johnson, there is no further information to be disclosed under AIM Rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies.

For further information on the Company, visit: www.kvplc.com:

Kennedy Ventures plc
Larry Johnson (CEO), c/o Camarco	Tel: [phone]
Grant Thornton UK LLP (Nominated Adviser) Colin Aaronson Richard Tonthat Daniel Bush	Tel: [phone]
Shore Capital (Broker) Mark Percy / Toby Gibbs (corporate finance) Jerry Keen (corporate broking)	Tel: [phone]
Camarco (PR) Gordon Poole / Billy Clegg	Tel: [phone]

The information contained within this announcement is considered to be inside information, for the purposes of Article 7 of EU Regulation 596/2014, prior to its release.       

 

END

 

 

BOAOKADPOBKDPDK