REG - Ecora Resources PLC - Chair Succession

Ecora ResourcesAnnouncement

15/01/2024 07:00

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RNS Number : 6145Z  Ecora Resources PLC  15 January 2024

 

 

 

15 January 2024

 

Ecora Resources PLC

("Ecora" or the "Company")

 

Chair Succession

 

Ecora Resources PLC (LSE/TSX: ECOR) announces that, following a thorough
recruitment process, Andrew Webb will join the Board and succeed Patrick Meier
as non-executive Chair of the Board.

 

To allow for an orderly transition of responsibilities, Andrew will join the
Board as an independent non-executive director and Chair designate on 15
January 2024. It is anticipated that Andrew will take over as Chair following
the 2024 Annual General Meeting on 2 May 2024.

 

As detailed in the 2022 Annual Report, Patrick Meier is now in his ninth year
as a non-executive director and is therefore nearing the end of his maximum
term under the UK Corporate Governance Code. The Nomination Committee, led by
Varda Shine, the Company's Senior Independent Director, commenced a process to
find Patrick's successor which has now been successfully concluded with the
appointment of Andrew.

 

Andrew spent the majority of his career at N M Rothschild & Sons where he
was a Managing Director with a focus on natural resources and mining. He is
also an experienced non-executive director and currently serves on the Boards
of Kenmare Resources plc and a number of private and not-for-profit entities.

 

Andrew will become Chair of the Nomination Committee upon his appointment as
Chair of the Board.

 

Varda Shine, Senior Independent Director of Ecora, said:

"The Board is delighted to welcome an individual of Andrew's quality and
experience to the Board. The Nomination Committee, assisted by an external
search firm, completed an extensive process which culminated in Andrew's
appointment. We look forward to Andrew joining the Board immediately before
assuming the role of Chair in May, following an orderly transition period.

 

"The Board would also like to place on record its thanks to Patrick for his
service and leadership over the past nine years, as both Chairman and
non-executive director. We wish him all the best for the future."

 

Andrew Webb, Chair designate, commented on his appointment:

"Ecora is well positioned with a clear growth strategy capable of transforming
the Company in the coming years. I am delighted to be joining at such an
exciting time in the Company's evolution and look forward to working with the
Board to continue to make successful investments for the long-term benefit of
our shareholders and broader stakeholders given the critical importance of
Ecora's strategic focus to fund projects in commodities that will support a
sustainable future."

 

 

 

For further information

 

 Ecora Resources PLC                        +44 (0) 20 3435 7400
 Geoff Callow - Head of Investor Relations

 Website:                                   www.e (http://www.ecora-resources.com) cora-resources.
                                            (http://www.ecora-resources.com) com (http://www.ecora-resources.com)

 Camarco                                    +44 (0) 20 3757 4997

 Gordon Poole / Owen Roberts / Elfie Kent

 

 

About Ecora Resources

 

Ecora Resources is a leading royalty company focused on supporting the supply
of commodities essential to creating a sustainable future.

 

Our vision is to be globally recognised as the royalty company of choice
synonymous with commodities that support a sustainable future by continuing to
grow and diversify our royalty portfolio in line with our strategy. We will
achieve this through building a diversified portfolio of scale over high
quality assets that drives low volatility earnings growth and shareholder
returns.

 

The mining sector has an essential role to play in the energy transition, with
commodities such as copper, nickel and cobalt - key materials for
manufacturing batteries and electric vehicles. Copper also plays a critical
role in our electricity grids. All these commodities are mined and there are
not enough mines in operation today to supply the volume required to achieve
the energy transition.

 

Our strategy is to acquire royalties and streams over low-cost operations and
projects with strong management teams, in well-established mining
jurisdictions. Our portfolio has been reweighted to provide material exposure
to this commodity basket and we have successfully transitioned from a coal
orientated royalty business in 2014 to one that by 2026 will be materially
coal-free and comprised of over 90% exposure to commodities that support a
sustainable future. The fundamental demand outlook for these commodities over
the next decade is very strong, which should significantly increase the value
of our royalty portfolio.

 

Ecora's shares are listed on the London and Toronto Stock Exchanges (ECOR) and
trade on the OTCQX Best Market (OTCQX: ECRAF).

 

 

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