EMED announces board changes, new nominated adviser

EMED Mining Public Limited announced the appointment of Dr Michael Price to the board of directors. Dr Price is former joint global head of mining finance for Barclays Capital with extensive experience in financing of mining projects. He has worked with governments, mining companies and financial institutions around the world;

Cyprus-based EMED has also appointed as RFC Corporate Finance Limited, a specialist corporate adviser to the natural resources industry, as nominated adviser (Nomad). RFC currently acts as Nomad to 15 natural resources companies;

The company has also agreed to issue 250,000 new ordinary shares to Halliday Management Services in consideration for the provision of services in relation to systems support, and to grant options over 1,250,000 new ordinary shares as follows: 500,000 to Dr Price at 17p per share, 500,000 to RFC at 18.66p per share and 125,000 to Halliday at 17p per share.  Further details are set out below in this announcement.

Dr Andreas Panayiotou has stepped down as non-executive Director of the company having made an invaluable contribution in the establishment of EMED Mining since joining at the company’s flotation.

Ronnie Beevor, Chairman of EMED Mining said: “Today’s changes reflect some of the company’s preparations for the anticipated expansion during the next 12 months.

“It is indeed a great privilege to work with leaders such as Dr Panayiotou and with the organisations and individuals who have just joined our team at EMED Mining.  Along with our continued progress in Slovakia, Spain and in our other countries we look forward to a long and successful time ahead for the company.”