CRP
11/06/2014 08:30
GENERAL
REL: 0830 HRS Chatham Rock Phosphate Limited
GENERAL: CRP: CRP advises revised services agreement and board changes
Media Release
Revised Services Agreement and Board Changes
June 11 2014
Following recent meetings between CRP and Boskalis, the two parties have
agreed a variation to the services agreement that the parties entered into
July 2012 (the "Variation Agreement").
Under the Variation Agreement, Boskalis will assist CRP with the marine
consent application; including providing technical advice and making
available personnel with relevant technical expertise to attend the
anticipated application hearings. The granting of marine consent is the next
key step in the Company's development and the Board welcomes the continuing
involvement of Boskalis in this process.
Consideration for the services to be performed under the Variation Agreement
is expected to be satisfied by the shares issued to Boskalis in 2012, which
formed a prepayment for services to be provided by Boskalis.
Further to the Variation Agreement, and in anticipation of CRP's Admission to
AIM, Mr. Jacobus (Ko) de Blaeij, the Boskalis representative on CRP's board,
has stepped down as a director of CRP. It has been agreed in principle that
CRP will formalise an expert advisory panel to assist the CRP Board on
technical matters and it is intended that Mr De Blaeij will chair that panel.
The Board would like to thank Ko for his support to the Company over the last
few years and looks forward to accessing his extensive experience through his
new role as the chairman of the new technical advisory panel.
CRP is also making significant progress with its AIM listing and
capital-raising. CRP has carried out a review of the Board structure and the
company's governance in preparation of Admission to AIM. As a result, Linda
Sanders has stepped down as Executive Chairman and Robert Goodden has been
appointed as the new Non-Executive Chairman of the Board. Robert is based in
the United Kingdom and has extensive marine mining experience and industry
links.
The Board thanks Linda for her tremendous contribution as Chairman. She will
continue her critical executive director role of Corporate Affairs Director.
Focus is now on the AIM listing and capital-raising.
Chris Castle, Managing Director +6421558185 or [email protected] (please note
Chris is currently in London)
End CA:00251410 For:CRP Type:GENERAL Time:2014-06-11 08:30:10
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