Chesterfield Resources PLC / EPIC: CHF / Market: LSE / Sector:
Mining
20 March 2024
CHESTERFIELD RESOURCES
PLC
("Chesterfield" or the
"Company")
Board Changes and Grant of
Options
Chesterfield Resources plc is
pleased to announce the following changes to its management and
Board.
Kashif Afzal has become Executive
Chairman with immediate effect, replacing Paul Ensor in this role
who will become non-executive Director. Ajay Kejriwal will also
cease to hold an executive position, but will remain on the Board
as non-executive Director and will continue as a non-executive CFO.
David Cliff has resigned from his position as non-executive
Director with immediate effect.
The changes are to prepare the
Company to be best placed to exploit its existing assets as well as
review additional opportunities as they arise.
Mr Afzal, is
a British businessman based in the UAE, and a graduate of Oxford
University and the professional programme at
the Camborne School of Mines. In
addition to Juniper International FZ
LLC, Mr Afzal is an
advisor to a number of institutional and family office investors
and a Director of Blockbase Asia and Bosonic Energy. It is
anticipated that his experience and network in
the UAE will assist in the
identification and financing of additional opportunities for the
company.
Additionally, the Board has
agreed to issue certain directors with
options over a total of 4,000,000 Ordinary Shares of 0.1p each in the capital of the Company. On the
recommendation of the Remuneration Committee, and partly in
recognition of foregone salary for more than one year, these
options will vest immediately and will expire five years from the
date of issue with an exercise price of 2p, a multiple of the
recent share price.
The options to be granted to
directors are set out below:
|
Option
holder
|
Position
|
Quantity
|
|
Paul Ensor
|
Non-Executive Director
|
2,000,000
|
|
Ajay Kejriwal
|
Non-Executive Director
|
2,000,000
|
Chesterfield Executive Chairman Kashif Afzal said, "We would
like to thank David Cliff for the invaluable support that he has
given to the Company during his tenure on the Board and wish him
well for the future. The Board changes announced today are to
enhance the strategic decision making at the Company and continue
in our efforts to conserve assets and avoid unnecessary
dilution."
Market Abuse Regulation (MAR)
Disclosure
Certain information contained in
this announcement would have been deemed inside information for the
purposes of Article 7 of Regulation (EU) No 596/2014 until the
release of this announcement.
For
further information please visit www.chesterfieldresourcesplc.com
or contact:
|
Chesterfield Resources
plc
|
Kashif
Afzal, Executive Chairman
|
kashif@chesterfieldplc.com
|
|
Peterhouse Capital
Limited
|
Charles Goodfellow
|
Tel: +44 20 7469 0930
|
**ENDS**
1.
|
Details of the person discharging managerial
responsibilities/person closely associated
|
|
a)
|
Name:
|
Ajay Kejriwal
|
2.
|
Reason for the notification
|
|
a)
|
Position/status:
|
Non-Executive Director
|
|
b)
|
Initial
notification/Amendment:
|
Initial notification
|
3.
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name:
|
Chesterfield
Resources Plc
|
|
b)
|
LEI:
|
213800EF8I2TT767IU35
|
4.
|
Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii) each
date; and (iv) each place where transactions have been
conducted
|
|
a)
|
Description of the financial
instrument, type of instrument:
Identification code:
|
Ordinary shares of 0.1
pence
GB00BF2F1X78
|
|
b)
|
Nature of the
transaction:
|
Grant of options over ordinary
shares
|
|
c)
|
Price(s) and volume(s):
|
|
Price(s)
|
Volume(s)
|
|
2 pence
|
2,000,000
|
|
|
d)
|
Aggregated information:
Aggregated volume:
Price:
|
Single transaction as in 4 c)
above
|
Price(s)
|
Volume(s)
|
|
2 pence
|
2,000,000
|
|
|
e)
|
Date of the transaction:
|
2024-03-20
|
|
f)
|
Place of the transaction:
|
Off-market
|
1.
|
Details of the person discharging managerial
responsibilities/person closely associated
|
|
a)
|
Name:
|
Paul Ensor
|
2.
|
Reason for the notification
|
|
a)
|
Position/status:
|
Non-Executive Director
|
|
b)
|
Initial
notification/Amendment:
|
Initial notification
|
3.
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name:
|
Chesterfield
Resources Plc
|
|
b)
|
LEI:
|
213800EF8I2TT767IU35
|
4.
|
Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii) each
date; and (iv) each place where transactions have been
conducted
|
|
a)
|
Description of the financial
instrument, type of instrument:
Identification code:
|
Ordinary shares of 0.1
pence
GB00BF2F1X78
|
|
b)
|
Nature of the
transaction:
|
Grant of options over ordinary
shares
|
|
c)
|
Price(s) and volume(s):
|
|
Price(s)
|
Volume(s)
|
|
2 pence
|
2,000,000
|
|
|
d)
|
Aggregated information:
Aggregated volume:
Price:
|
Single transaction as in 4 c)
above
|
Price(s)
|
Volume(s)
|
|
2 pence
|
2,000,000
|
|
|
e)
|
Date of the transaction:
|
2024-03-20
|
|
f)
|
Place of the transaction:
|
Off-market
|
