VVV Resources Limited VVV Resources Limited: Appointment of New Director and Issue of Shares in Lieu of Directors Fees

VVV Sports

17/04/2024 07:00

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   VVV Resources Limited (VVV)
   VVV Resources Limited: Appointment of New Director and Issue of Shares in
   Lieu of Directors Fees

   17-Apr-2024 / 07:00 GMT/BST

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   17 April 2024

                               VVV Resources plc

                            ("VVV" or the "Company")

                          Appointment of New Director

                   Issue of Shares in Lieu of Directors Fees

    

   VVV Resources Plc, 100% owner of the Mitterberg Copper Project in Austria,
   is pleased to announce the appointment of Benjamin (Ben) Samuel Hill as  a
   Non-Executive Director of the Company with immediate effect.

   A lawyer  by  profession,  Ben  will bring  a  wealth  of  entrepreneurial
   experience and a wide network of  connections to the role, as the  Company
   seeks to develop its flagship Mitterberg Copper Project in Austria.

   Ben, aged  48,  is skilled  in  equity  and quasi  equity  financing  with
   demonstrable experience  in  structuring  and public  and  private  equity
   investing.  Ben  possesses  a  law  degree  along  with  passing  the  Bar
   Vocational Course at the Inns of Court,  School of Law and is a member  at
   Grays Inn. Ben worked as Head of  Legal at RAB Capital from 2003 to  2011,
   whilst working primarily on the RAB  Special Situations Fund where he  was
   instrumental in building up the  private side of the portfolio,  investing
   across a  variety  of sectors  but  with  a strong  bias  towards  natural
   resources. Ben continues to  advise a number  of family offices  providing
   them with deal flow, structuring and investment advice. He also acts as  a
   Senior Advisor  for The  Growth Stage,  helping to  source growth  capital
   deals  and   institutional  investors   via  their   regulated   platform,
   thegrowthstage.com. As part of Ben’s last role, he sat on the Board of  20
   private equity structures for  a single private equity  group either as  a
   Non-Executive Director  or  as  an  alternate.   He  resigned  from  these
   positions in August 2023.

   Ben does not  currently hold any  shares in the  Company, however he  will
   immediately be awarded 333,334 new ordinary shares in the Company as  part
   of his financial package. 

   Jim Williams, Executive Chairman of  VVV Resources, commented: “On  behalf
   of Mahesh Pulandaran and myself, we  are delighted that Ben is joining  us
   at VVV Resources.   Given the  surge in  copper prices,  and the  expected
   supply squeeze, the development of our flagship Mitterberg copper  project
   is of the utmost  importance. It is  clear from Ben’s  CV and his  network
   that he possesses the necessary  corporate skills to assist in  generating
   traction and liquidity for the Company.”

   Ben Hill  added: “I  am delighted  to  have the  opportunity to  join  VVV
   Resources at such a pivotal time  for the copper market. VVV’s  Mitterberg
   project offers huge development potential, and through my previous work in
   fund raising  in the  sector and  my contact  network, I  hope to  make  a
   substantial contribution to project development in the coming year.”

   Below are details of all directorships held by the director in any other
   publicly quoted company at any time in the previous five years:

   Current directorships              Previous directorships
   Clear Harbour Airways (Holdings)   Ariel Partners LLP
   Limited
   Clear Harbour Airways (Operations) Ariel Capital Limited
   Limited
   Data Abbey Limited                 Clear Harbour Limited
                                      Asia Education Bidco Limited
                                      Asia Education Interco Limited 
                                      Asia Education Manco Limited
                                      ICG Alternative Credit (Jersey) GP
                                      Limited
                                      ICG Enterprise Carry GP Limited
                                      ICG European Fund 2006 (Jersey) Limited
                                      ICG Executive Financing Limited
                                      ICG Life Sciences Debt Limited
                                      ICG North American Private Equity
                                      Debt(Jsy)Limited
                                      ICG Real Estate E Debt Limited
                                      ICG Recovery 2008 B (Jersey) Limited
                                      ICG Recovery Fund 2008 B GP Limited
                                      ICG Senior Debt Partners Performance GP
                                      Limited
                                      ICG Watch Jersey GP Limited
                                      Intermediate Capital Mezz Fund 2003
                                      (Jersey) Ltd
                                      Intermediate Investments Jersey Limited
                                      Match Jersey Limited
                                      Mezzanine Investors Jersey SPV Limited
                                      RE+ European Finance Limited
                                      RE+ Management Limited

    

   Except as  set  out  above,  there is  no  further  information  regarding
   Benjamin Hill, that is  required to be disclosed  pursuant to Rule 4.9  of
   the AQSE Growth Market Access Rulebook.

   Award of Ordinary Shares to Directors in Lieu of Full Directors Fees

   In order to preserve  the Company’s cash, the  Board has decided to  issue
   333,333  new   ordinary  shares   to  each   of  Mahesh   S/o   Pulandaran
   (Non-Executive Director) and Jim Williams (Executive Director), in lieu of
   part of their Director’s  fees. The total of 333,333 Ordinary shares cover
   the period from their respective appointment dates to the present.

   The Directors of the Company accept responsibility for the contents of
   this announcement.

    

   Enquiries:                                      
   VVV Resources Plc                              Tel: +44 (0)20 3813 0175
   Mahesh S/o Pulandaran (Non-Executive Director) Tel: +44 (0)77 7427 4836
   Jim Williams (Chairman)
   Peterhouse Capital
   AQSE Growth Market Corporate Adviser           Tel: +44 (0)20 7469 0936
   Guy Miller/Mark Anwyl
   Brand Communications
   Public and Investor Relations
   Alan Green                                     Tel: +44 (0)79 7643 1608

    

    

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   Dissemination of a Regulatory Announcement that contains inside
   information in accordance with the Market Abuse Regulation (MAR),
   transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:          VGG9470B1004
   Category Code: MSCM
   TIDM:          VVV
   LEI Code:      213800OEUSH43X859D83
   Sequence No.:  316009
   EQS News ID:   1881969


    
   End of Announcement EQS News Service

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