Ferrum Crescent Ltd Chairman Employment Contract & Manager Appointment (5608T)

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RNS Number : 5608T

Ferrum Crescent Ltd

09 January 2017

9 January 2017

Ferrum Crescent Limited

("Ferrum Crescent", the "Company" or the "Group")(ASX, AIM, JSE: FCR)

Contract of employment for Executive Chairman and Appointment of Project Manager

Ferrum Crescent, the ASX, AIM and JSE quoted metals project developer, announces that the Company's Executive Chairman, Justin Tooth, has entered into a contract of employment, with the Company, to replace the interim arrangements agreed at the time of his appointment.

In accordance with ASX Listing Rule 3.16.4, the Company advises the following material terms of Mr Tooth's employment agreement:

1. Base salary of GBP125,000 per annum, excluding statutory contributions to National Insurance and Pension required under UK Law.

2. The contract has no fixed term and may be terminated by either party on three months' notice (or in the case of termination by the Company, payment in lieu of such notice).

3. Mr Tooth will be eligible to participate in employee incentive schemes operated by the Company from time to time on such terms as the Board may decide.

The Company also announces the appointment of Mr Merlin Marr-Johnson to the position of Project Manager with his principal responsibilities being the progression of the lead-zinc portfolio of projects held by the Company.

Mr Marr-Johnson has over 20 years' experience as a field geologist, mining analyst and resources fund manager. He is a Spanish speaker and has overseen exploration programmes in South America, Sub-Saharan Africa and Central Asia. Mr Marr-Johnson had previously been engaged as a technical consultant on the Toral and Lago projects.

For further information on the Company, please visit www.ferrumcrescent.com or contact:

Ferrum Crescent Limited

Justin Tooth, Executive Chairman

   Grant Button, Director and Company Secretary        T: [phone] 

UK enquiries:

   Laurence Read (UK representative)                           T: [phone] 

Strand Hanson Limited (Nominated Adviser)

   Rory Murphy/Matthew Chandler                                 T: [phone] 

Beaufort Securities Limited (Broker)

   Elliot Hance                                                                 T: [phone] 

Bravura Capital (Pty) Ltd (JSE Sponsor)

Doné Hattingh T (direct): [phone]

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ('MAR').

This information is provided by RNS

The company news service from the London Stock Exchange

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January 09, 2017 02:00 ET (07:00 GMT)