Appointment of CEO and Grant of options

RNS Number : 4028L

Aurum Mining PLC

03 October 2016

 

3 October 2016

AURUM MINING PLC

("Aurum" or the "Company")

Appointment of CEO

Grant of options

Aurum Mining plc (AIM: AUR), the Spanish focused gold and tungsten explorer, is pleased to announce the appointment of Michael (Mo) Joseph Stevens as Chief Executive Officer with immediate effect.

This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

Mr Stevens, aged 54, has held a number of senior leadership roles with global and national businesses operating in security, cyber, aerospace, defence and high technology sectors. This includes over 25 years of experience with large global portfolio businesses, where he has held Managing Director and CEO-level positions. Most recently, Mr Stevens was Head of International Market Development for Airbus Defence & Space, a role he assumed after the integration of Cassidian UK, where he was CEO.

As previously stated, and in response to the on-going challenging market conditions in the Natural Resources sector, the Board continues to pursue a process of transformation in order to maximise potential returns to shareholders. As CEO, Mr Stevens will be responsible for drawing on his diverse commercial skills, including business growth, portfolio management and operations, to help the Company identify attractive opportunities and achieve a successful change in strategic direction.

David Williams, Chairman, commented: "I am really delighted to welcome Mo as CEO. To have someone of his calibre and experience means that we can now accelerate our plans to look at a range of transformational opportunities, as we have set out in previous statements. These opportunities will deliver a change in strategy with a view to creating greater value for our loyal shareholders and we will be looking to make other key Board appointments in due course."

Mo Stevens, new CEO of Aurum, added: "I am really pleased to be joining Aurum at what is an exciting time for the Company. The Board's vision for taking the business forward to the next level is clear and I am looking forward to using my experience in managing and growing portfolio businesses to help transform the Company for the benefit of its shareholders."

The following details in relation to the appointment of Mr Stevens are disclosed in accordance with Schedule 2(g) of the AIM Rules:

Current directorships	Past directorships held within the last five years
Airbus Group Endeavr Wales	Airbus DS Limited
	Airbus Defence and Space Limited
	Cassidian Holdings Limited
	Sika International Limited

Mr Stevens has an option over 10,000,000 Ordinary Shares, exercisable at 1p, representing 3.40 per cent. of the Company's current issued share capital.

There are no other disclosures in accordance with Schedule 2(g) of the AIM Rules.

Grant of options

The Company announces that is has granted Chris Eadie, Director and Sean Finlay, Non-executive Director options over 1,000,000 Ordinary Shares and 500,000 Ordinary Shares respectively of 1 pence each in the capital of the Company.  The options have an exercise price of 1 pence per shares.  All of the options shall vest and may be exercised at any time. 

In addition to their respective grant of options, Chris Eadie has an interest in 4,500,001 Ordinary Shares and Sean Finlay has an interest in 666,055 Ordinary Shares.

Contacts:
Aurum Mining plc	www.aurummining.net
David Williams Chris Eadie	[phone] [phone]
WH Ireland Limited	Nominated Adviser & Broker
Mike Coe, Ed Allsopp	[phone]
Powerscourt	[e-mail]
Ben Griffiths, Andy Jones	[phone]

Notes to Editors:

Aurum Mining is an AIM listed exploration and development company focused on its highly prospective portfolio of gold and tungsten assets in North West Spain.

Gold

Through its joint venture agreement with Ormonde Mining plc (AIM: ORM), Aurum currently has a 56.5% interest in the Pino de Oro project in Zamora Province and a 51.4% interest in the Peralonso and Cabeza projects in Salamanca Province.

Tungsten

Aurum's 20% owned Morille Tungsten project is located approximately 15km south west of Salamanca in North West Spain and covers an area of 5,796 hectares. The permit area is a 'brownfield' site with historical data indicating production from the site of high quality tungsten concentrates.

 

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