BLOCK COMMODITIES LTD African Potash Limited / Index: AIM / Epic: AFPO / Sector: Mining
3 March 2015
African Potash Limited ('African Potash' or 'the Company')
Appointment of Non-Executive Director
African Potash, the AIM listed company focused on sub-Saharan potash assets, is pleased to announce the appointment of Mr. Christopher Cleverly to the board as a Non-Executive Director with immediate effect. Mr. Cleverly, a barrister and African-focussed entrepreneur, will combine his extensive corporate experience and regional expertise to further support the Company's development objectives focussed on its Lac Dinga Potash Project in the Republic of Congo.
Mr. Cleverly was called to the Bar in 1990, and subsequently founded Trafalgar Chambers establishing himself as the youngest head of chambers in the last century. In addition to his legal work, Mr. Cleverly is also the Chief Executive Officer of the Made in Africa Foundation, a UK non-profit organisation established to assist the development of the African continent by providing first-stage funding for the feasibility studies and business development of large-scale infrastructure projects based in the region. He is also a regular presenter on TV and radio, and a contributor to newspapers and magazines on subjects regarding Africa and African development.
African Potash CEO, Edward Marlow, said, "I am delighted to welcome Chris to the African Potash board. During his illustrious legal and entrepreneurial career he has distinguished himself as an exceptional businessman and philanthropist, and I am confident that his extensive experience in Africa will be highly valuable as we progress development of our Lac Dinga Potash Project in the Republic of Congo."
Mr. Christopher John Cleverly (age 47) has or holds the following directorships and/or partnerships in the last 5 years:
Current | Past (within the past five years) |
Onshore Energy Limited | Aikan Capital Real Estate PLC |
Comer Africa Real Estate Limited | Bond Street Forex LLP |
Aikan Capital Management Limited | Made in Africa Exec Limited |
Media Made in Africa Limited | Mountain Lion Limited |
Verdant Vermillion Ventures Ltd | Proserv Capital Limited |
Lion Mountain Oil Group plc | So Damn Clever Management Limited |
Waterside Productions Limited | |
The Exchange West Africa Limited | |
Sweet Essentials International Limited | |
Made in Africa Capital Limited | |
SL Agriculture Limited | |
Frontier Fixed Income Ltd. | |
Clean Tech Partnership Rwanda Limited | |
Sweet China Trading Limited | |
Finnaust Mining PLC |
In connection with his appointment, Mr. Cleverly has been granted options over 1 million ordinary shares in the Company (the 'Options'). The Options have been granted in accordance with and subject to the Company's share option scheme and are exercisable at a price per share of 0.9 pence between 27 August 2015 and 27 August 2020. Mr. Cleverly has also been granted the following warrants to subscribe for new shares in the Company:
Warrant instrument | No. of Warrants | Exercise Price | Exercise Period |
2p - May 2014 | 1,000,000 | 2p | Until 16 May 2016 |
5p - May 2014 | 10,000,000 | 5p | As above |
7.5p - May 2014 | 1,500,000 | 7.5p | As above |
10p - May 2014 | 2,000,000 | 10p | As above |
Mr. Cleverly holds 3 million ordinary shares in the Company, representing 0.97% of the total issued share capital of African Potash.
There is no further information on Mr. Cleverly required to be disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.
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For further information visitwww.africanpotash.comor contact the following:
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