board changes

Just out...

BOARD CHANGES TO TAKE LEGACY TO THE
NEXT TIER
Legacy Iron Ore (“Legacy”) is pleased to announce that senior Indian
business figures Mr Rana Som and Mr Narendra Kumar Nanda have
joined Legacy as Non-Executive Directors, following shareholder
approval at the recent Extraordinary General Meeting.
Mr Som is the current Chairman-Cum-Managing Director of National
Mineral Development Corporation Ltd (NMDC), who will become
Legacy’s largest shareholder following approval for a placement to
NMDC at the Extraordinary General Meeting.
Mr Nanda is the Director (Technical) for NMDC and is a fellow
member of the Institution of Engineers (India), and a Council Member
of the Mining Engineers Association of India.
In addition, Legacy is also please to announce the appointment of Mr
Swaminathan Thiagarajan, NMDC’s Director (Finance) as a nonexecutive director.
Legacy’s Managing Director, Sharon Heng believes that the
appointments will represent a significant turning point in Legacy’s
growth, and an ability to take the Company to the next level of the
global resources industry.
“Legacy will be unique among Australian public companies in having
this level of Indian representation on our Board. Mr Som, Mr Nanda
and Mr Thiagarajan will bring in excess of 75 years worth of
managerial and mining experience to Legacy at a time when the
company is seeking to develop its current assets and secure
additional resource projects. This experience and their networks
throughout India and Asia will be invaluable as we transition from a
junior explorer into a diversified resources company.”
“Following shareholder approval earlier at the EGM, the placement to
NMDC will potentially give Legacy improved access to development
funding and ongoing acquisition opportunities offered through the
NMDC network, underpinning the future growth of the Company and
development of its assets,” she said.
Mr Som has also served as Director of Personnel of The State
Trading Corporation of India Ltd and Functional Director on the board
of Hindustan Copper Limited.

Legacy also wishes to announce the resignation of Mr Tim Turner
and Mr John Hebenton as non-executive directors as part of the
terms of the Share Subscription agreement, whereby NMDC would
appoint 3 directors to the board as a majority

Cheers to longtermers

Dossa