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RNS Number : 1817S Adriatic Metals PLC 13 June 2024
13 June 2024
Adriatic Metals PLC
("Adriatic" or the "Company")
BOARD CHANGES
Adriatic Metals PLC (ASX:ADT, LSE:ADT1, OTCQX:ADMLF) ("Adriatic" or the
"Company") is pleased to announce that it has appointed Eric Rasmussen as a
Non-Executive Director with effect from 13 June 2024.
Mr Rasmussen has significant experience in the financing of European and
global mining projects, having most recently been Chief Advisor Structured
& Project Finance for Renewables & Mining at Rio Tinto, as well as
having been at the European Bank for Reconstruction and Development ("EBRD")
for 27 years, of which he was Global Head of Natural Resources between
2013-2022.
Mr Rasmussen led EBRD's team of 28 bankers on a portfolio of projects across
Europe, FSU and MENA, overseeing on average €1bn of investments per annum.
During his career at EBRD, Mr Rasmussen was not only a leader across many
disciplines of both finance and sustainability, but also was a highly
successful investor in multiple projects which generated industry-leading
returns for all participating stakeholders.
In his capacity as a Non-Executive Director, Mr Rasmussen will initially serve
on the Audit and Risk, Remuneration and Nomination Committees.
As Adriatic progresses from an exploration and development company to a
producer, the Company has initiated a process to evolve its board to align
with its future strategic goals. Having served on the Board since February
2018, Julian Barnes has with effect from 13 June 2024 stepped down from his
duties as a Non-Executive Director of Adriatic to pursue other interests. His
responsibilities included being on the Audit & Risk, Remuneration and
Nomination Committees.
Commenting on the Board changes, Michael Rawlinson, Chairman of Adriatic,
commented:
"I would like to thank Julian Barnes for his considerable contribution to
Adriatic's development from an exploration company into one of the leading
mining companies in Europe. Julian's considerable experience, not only in the
mining sector but also from working in the Balkans, has been invaluable for
the Company's progress over the past six years. We wish him well in his future
endeavours.
I would also like to welcome Eric Rasmussen to the Board of Adriatic. Eric
brings an impressive blend of commercialism and determination to get deals
done, as well as a passion for ensuring sustainability is at the core of
mining operations. His experience brings a depth of knowledge and network
across all levels of stakeholders in the European mining sector. The Board
looks forward to working with Eric as Adriatic sets out on its next chapter of
growth, with the Vares Silver Project built, commissioned and in the process
of being ramped up to nameplate production in Q4 2024."
Mr Rasmussen is currently a board director at the Electrum Discovery
Corporation listed on TSX-v under "ELY". Electrum is an early-stage
exploration company operating in Serbia with a focus on copper and gold
licences. He has not held other board directorships in the past five years.
Other than as disclosed, the Company confirms that there is no other
information regarding Mr Rasmussen that is required to be disclosed under
paragraph 9.6.13 of the Listing Rules of the UK Listing Authority.
-ends-
MARKET ABUSE REGULATION DISCLOSURE
The information contained within this announcement is deemed by the Company
(LEI: 549300OHAH2GL1DP0L61) to constitute inside information for the
purpose of Article 7 of EU Market Abuse Regulation (EU) No. 596/2014 as it
forms part of UK domestic law by virtue of the European Union (Withdrawal) ACT
2018, as amended. The person responsible for arranging and authorising the
release of this announcement on behalf of the Company is Paul Cronin, Managing
Director and CEO.
Authorised by Paul Cronin, Managing Director & CEO
For further information please visit: www.adriaticmetals.com
(http://www.adriaticmetals.com/) ; email: info@adriaticmetals.com
(mailto:info@adriaticmetals.com) , @AdriaticMetals
(https://twitter.com/AdriaticMetals) on Twitter; or contact:
Adriatic Metals PLC
Paul Cronin / Klara Kaczmarek Via Buchanan
Buchanan Tel: +44 (0) 20 7466 5000
Bobby Morse / Christopher Jones adriatic@buchanan.uk.com (mailto:adriatic@buchanan.uk.com)
Morgans Corporate Limited
Rob Douglas / Sam Warriner / Mitch Duffy Tel: +61 7 3334 4888
RBC Capital Markets
Farid Dadashev / James Agnew / Jamil Miah Tel: +44 (0) 20 7653 4000
Stifel Nicolaus Europe Limited
Ashton Clanfield / Callum Stewart / Varun Talwar Tel: +44 (0) 20 7710 7600
Morrow Sodali
Cameron Gilenko Tel: +61 466 984 953
ABOUT ADRIATIC METALS
Adriatic Metals Plc (ASX:ADT, LSE:ADT1, OTCQX:ADMLF) is a precious and base
metals developer that is advancing the world-class Vares Silver Project in
Bosnia & Herzegovina, as well as the Raska Zinc-Silver Project in Serbia.
First concentrate production took place in February 2024 and the Vares Silver
Operation is fully funded to nameplate production, which is expected in Q4
2024. Concurrent with ongoing operational activities, the Company continues to
explore across its highly prospective 44km(2) concession package.
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