TIDMSO4
RNS Number : 4045C
Salt Lake Potash Limited
19 October 2020
19 October 2020 AIM/ASX Code: SO4
SALT LAKE POTASH LIMITED
-------------------------
SO4 Adds Operational and Potash Experience to Board
Salt Lake Potash Limited (SO4 or the Company) is pleased to
announce the appointment of Mr Phil Montgomery and Mr Peter Thomas
to the board as Independent Non-Executive Directors effective
immediately. Following these appointments Mr Mark Pearce will step
down as a Non-Executive Director with effect from today.
TONY SWIERICZUK, Chief Executive Officer:
"The appointment of Phil and Peter to the board reflects the
next evolution in SO4's development as we finalise construction at
Lake Way and look ahead to steady state operations and future
development of other lakes. I believe their significant combined
experience in project development, operations, strategy and finance
within Tier 1 organisations will serve SO4 shareholders well.
I would also like to thank Mark for his contribution to the
Company in its formative stages, including acquisition of SO4's
initial potash projects in Western Australia."
Phil Montgomery
Phil Montgomery is a highly experienced mining industry
executive who was most recently Vice President - Projects at BHP,
responsible for the development of BHP's Potash business through
its Jansen project in Saskatchewan, Canada. Mr. Montgomery brings
significant experience in project development and operations having
held senior project development positions at BHP and Billiton for
over 20 years working across a number of commodities and
geographies, including leadership of BHP's Iron Ore growth program
(2002-12). He holds a BSc (Mechanical Engineering) from Oxford
Brookes University in the UK and completed the Executive Leadership
Programme at INSEAD.
Peter Thomas
Peter Thomas is a senior executive with significant experience
in project operations, construction, finance and strategy. Mr
Thomas held senior executive positions at Fortescue between
2004-2014 including Project Director in charge of the A$4.7bn T155
port and rail infrastructure investment and Director of Corporate
Services. He has previously worked for McKinsey and Lehman Brothers
in the USA and more recently held the position of CEO of the Balla
Balla Infrastructure Group (Todd Corporation). He is currently CFO
of Decmil, the ASX listed construction and engineering group with
c.A$500m in revenues. Mr Thomas holds an MBA from Harvard Business
School, a BEc and BSc from Macquarie University and is a graduate
of the Australian Institute of Company Directors.
Incentive Options
Subject to Shareholder approval, the Company will issue the
following securities to each of Mr Montgomery and Mr Thomas to
attract and retain their services:
-- 200,000 Options exercisable at A$0.60 each on or before 1
November 2023, vesting immediately; and
-- 300,000 Options exercisable at A$1.00 each on or before 1
November 2023, vesting 12 months from commencement.
AIM Rule 17
Further information as required by Rule 17 and Schedule 2
paragraph (g) of the AIM Rules for Companies, is set out below:
Philip Montgomery , aged 56, is or has been a director of the
following companies in the last five years:
Current Directorships/Partnerships Former Directorships/Partnerships
SMFG BHP Billiton Canada Inc
P and G Montgomery Holdings Pty
Ltd
P and G Montgomery Superannuation
Pty Ltd
There is no further information required to be disclosed
pursuant to Schedule Two, paragraph (g) of the AIM rules.
Mr Montgomery has no current direct or indirect interest in any
shares or securities of the Company. Subject to shareholder
approval Mr Montogomery will be issued 500,000 options as detailed
above.
Peter James Thomas , aged 49, is or has been a director of the
following companies in the last five years:
Current Directorships/Partnerships Former Directorships/Partnerships
Decmil Group Limited N/A
Decmil Australia Pty Ltd
Decmil Engineering Pty Ltd
Decmil Infrastructure Pty Ltd
Decmil Southern Pty Ltd
Eastcoast Development Engineering
Pty Ltd
Homeground Villages Pty Ltd
Homeground Gladstone Pty Ltd
8x Resources Pty Ltd
C1 Energy Pty Ltd
There is no further information required to be disclosed
pursuant to Schedule Two, paragraph (g) of the AIM rules.
Mr Thomas has an interest in 120,000 fully paid ordinary shares
representing 0.02% of its issued share capital. Subject to
shareholder approval Mr Thomas will be issued 500,000 options as
detailed above.
For further information or to view a full version of this
announcement, please visit www.so4.com.au or contact:
Tony Swiericzuk / Richard Knights Salt Lake Potash Limited Tel: +61 8 6559 5800
Colin Aaronson / Seamus Fricker Grant Thornton UK LLP (Nominated Adviser) Tel: +44 (0) 20 7383 5100
Derrick Lee / Peter Lynch Cenkos Securities plc (Joint Broker) Tel: +44 (0) 131 220 6939
Rupert Fane / Ernest Bell Hannam & Partners (Joint Broker) Tel: +44 (0) 20 7907 8500
This announcement has been authorised for release by the Board
of Directors.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
Forward Looking Statements
This announcement may include forward-looking statements. These
forward-looking statements are based on Salt Lake Potash Limited's
expectations and beliefs concerning future events. Forward looking
statements are necessarily subject to risks, uncertainties and
other factors, many of which are outside the control of Salt Lake
Potash Limited, which could cause actual results to differ
materially from such statements. Salt Lake Potash Limited makes no
undertaking to subsequently update or revise the forward-looking
statements made in this announcement, save where required by law or
regulation, to reflect the circumstances or events after the date
of that announcement.
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END
BOAGPGQCUUPUPGR
(END) Dow Jones Newswires
October 19, 2020 02:00 ET (06:00 GMT)
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