Pathfinder is pleased to announce the appointment of Mr. Peter Taylor as Chief Executive Officer and as a director of the Company with immediate effect. Dennis Edmonds, the current Chief Executive Officer, will become Non-executive Chairman of the Company, replacing Sir Henry Bellingham who has resigned from the board after more than five years in the role, also with immediate effect.
Mr Taylor has over thirty years’ experience in leading strategic operations in Africa, Southeast Asia and Europe combined with transactional expertise in the mining and exploration sector. He was Chief Operating Officer at former AIM- and TSX:V -listed gold and iron company, African Aura Mining Inc, during its growth to a market capitalisation of US$330 million, and subsequently of Afferro Mining Inc, through to its acquisition by IMIC Plc for US$200 million. Most recently, Mr. Taylor was Chief Executive Officer for AIM-listed Alien Metals Ltd.
Further disclosures on Mr. Taylor as required under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies are included in the appendix below.
Dennis Edmonds, Non-executive Chairman of Pathfinder, commented:
“Peter has a wealth of relevant experience to bring to bear at Pathfinder. His qualifications in business and mining transactions, coupled with hands-on practical experience in operating environments, brings a knowledge and perspective to the board which will be invaluable as we work towards achieving a positive resolution in Mozambique and assess other opportunities being presented to us.
The Board would like to pay tribute to Sir Henry Bellingham on his departure, leaving the Board after more than five years as Chairman. We wish Sir Henry all the best with his other ventures.”
Grant of Share Options
Pathfinder announces that it has, conditional upon the passing of the requisite shareholder resolutions in due course to permit the future issuance of shares, agreed to grant 6,000,000 options over the Company’s ordinary shares of 0.1p each to Mr. Taylor. These options will, when granted, be exercisable at 1.25p per share and expire two years from the date of the grant. A further announcement will be made when the condition is satisfied, and the options have been granted.