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Pembridge Resources - Settlement with Former CEO

RNS Number : 8570S
Pembridge Resources plc
08 November 2019
 

 

8 November 2019

 

Settlement with Former CEO

London, United Kingdom - Pembridge Resources plc (LSE: PERE) ("Pembridge" or the "Company")  announces that, further to the changes to its board of directors announced on 19 September 2019, the Company reached an agreement with its former Chief Executive Officer, David Linsley, on the terms of his departure from the Company.  

The Company agreed, at the time of his departure, to pay Mr. Linsley amounts contractually due to him comprising £71,000 in cash, 2,427,806 ordinary shares of nominal value 1 pence each (the "Shares"), together with a further cash payment of £23,702 in respect of an accrued tax liability and a £16,000 contribution towards his associated legal fees.  

The Shares will be issued to Mr. Linsley as soon as practicable following the Company's re-admission to listing on the standard segment of the Official List of the UK Financial Conduct Authority and to trading on the main market for listed securities of London Stock Exchange plc, work on the documentation relating to which is progressing.

 

ENDS

 

NOTES TO EDITORS

About Pembridge Resources plc

Pembridge is a mining company that is currently suspended from listing on the standard segment of the Official List of the FCA and trading on the main market for listed securities of London Stock Exchange plc. Minto, a subsidiary of Pembridge, is a British Columbia incorporated business operating the Minto mine in Yukon, Canada.

Enquiries:

 

Pembridge Resources plc:                                                              +44 (0)20 7917 2968

Gati Al-Jebouri, Chief Executive Officer and Chairman of the Board

Paul Fenby, Chief Financial Officer

Thomas Horton, Vice President Corporate Development

 

Brandon Hill Capital - United Kingdom:                                       +44 (0)20 3463 5016

Jonathan Evans

 

SI Capital - United Kingdom:                                                          +44 (0)14 8341 3500

Nick Emerson

 

Tavistock Communications - United Kingdom:                           +44 (0)20 7920 3150

Charles Vivian

Gareth Tredway

 


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Price: 3.25

Market: LSE
Market Cap: £2.42 m
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