REG - Beowulf Mining PLC - Board Changes

Beowulf MiningAnnouncement

07/11/2022 07:00

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RNS Number : 4332F  Beowulf Mining PLC  07 November 2022

 

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulation ("MAR")
(EU) No. 596/2014, as incorporated into UK law by the European Union
(Withdrawal) Act 2018. Upon the publication of this announcement, this inside
information is now considered to be in the public domain.

 

7 November 2022

 

 

Beowulf Mining plc

 

("Beowulf" or the "Company")

 

Board Changes

 

 

Beowulf (AIM: BEM; Spotlight: BEO), the mineral exploration and development
company, announces that Sven Otto Littorin today steps down as Non-Executive
Chairman of the Company. The Board is grateful for Mr Littorin's hard work and
efforts since his appointment in November 2020 and wishes him well for the
future. The Company is pleased to announce that Mr Johan Röstin is appointed
to the Board as Non-Executive Chairman of the Company, effective immediately.

 

Mr Röstin was the CEO of ferry operator ForSea for three years, 2017-2020,
and before that the CEO of Copenhagen Malmo Port AB, 2009-2017.  He has
significant experience in infrastructure, logistics, capital investments and
permitting processes, and has held Board, executive and senior management
positions during his career.  In his role at ForSea, Mr Röstin led the
company to create a new brand, a stronger organisation and set the company on
its sustainability journey.

 

 

Kurt Budge, Chief Executive Officer of Beowulf, commented:

 

"Following the award of the Kallak North Exploitation Concession and the
appointment of Ulla Sandborgh as CEO of Jokkmokk Iron, I am very pleased to
welcome Johan Röstin as Beowulf's new Chairman and, on behalf of the Board, I
would like to express my thanks to Sven Otto Littorin for his valued counsel
and support over the last two years.

 

"Johan's knowledge and experience will be of significant benefit to the
Company and support for Ulla, as the Company progresses with project
development studies, permitting, and attracting finance for the Kallak
project, positioning Kallak as a future source of secure and sustainably
produced high grade iron ore for fossil-free steelmakers in the region.

 

"Mr Röstin has built his career on setting and working towards long term
goals in a structured and orderly manner and aligned with corporate strategy.
He is results oriented and has a track record of delivering the same.  I am
very much looking forward to working with him as we advance Beowulf's three
business areas, Jokkmokk Iron, Grafintec and Vardar, and driving shareholder
value creation."

 

Johan Röstin, Beowulf's Chairman Designate, commented:

 

"I am very pleased to join Beowulf Mining plc as Chairman of the Board.

 

"Being part of and working with market-driven development in a company with
clear ambitions regarding mining innovation and fossil-free enterprise is
particularly stimulating.

 

"In addition, I get to continue to pursue issues of which I am passionate,
sustainability and the circular economy, where both social and environmental
responsibility are self-evident parts of the Beowulf's entrepreneurial stance
and its contribution to society, both in Jokkmokk and the other locations
where the Company operates in Europe."

 

 

Mr Johan Axel Mogens Röstin, aged 60, currently holds or has held the
following directorships and partnerships in the last five years:

 

 Current directorships/partnerships  Previous directorships
 Holistic Push AB                    ForSea Helsingborg AB
 Velove Bikes AB                     ForSea Helsingør ApS
 Wihlborgs Fastigheter AB            ForSea Management A/S
                                     ForSea Management I/S
                                     ForSea Öresund AB
                                     ForSea Sverige AB
                                     Ideella föreningen Gröna Städer med firma Gröna Städer Marknad
                                     Sjöfartens Arbetsgivareförbund AB
                                     Transportföretagen TF AB

 

Mr Röstin holds no ordinary shares or options in the Company.

 

Other than as provided in this announcement, no other disclosures in relation
to Mr Röstin are required under Rule 17 and schedule 2 (g) of the AIM Rules
for Companies.

 

 

Enquiries:

 Beowulf Mining plc
 Kurt Budge, Chief Executive Officer        Tel: +44 (0) 20 7583 8304
 SP Angel

 (Nominated Adviser & Broker)
 Ewan Leggat / Stuart Gledhill / Adam Cowl  Tel: +44 (0) 20 3470 0470
 BlytheRay
 Tim Blythe / Megan Ray                     Tel: +44 (0) 20 7138 3204

 

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