Harvest Minerals Limited Board Changes (8411J)

TIDMHMI

RNS Number : 8411J

Harvest Minerals Limited

03 July 2017

Harvest Minerals Limited / Index: LSE / Epic: HMI / Sector: Mining

3 July 2017

Harvest Minerals Limited

("Harvest" or the "Company")

Board Changes

Harvest Minerals Limited, the AIM listed fertiliser development company, is pleased to announce the appointment of Mr Jack James, currently Company Secretary, as a Non-Executive Director with immediate effect. He replaces Mr Mark Reilly, who has resigned from his role as Non-Executive Director to pursue other interests.

Mr James has over 20 years' experience in chartered accounting, specialising in corporate advisory and reconstruction. Mr James provides accounting, secretarial and advisory advice to several private and public companies, government and other stakeholders. He has a Bachelor of Business from the Queensland University of Technology and is a Chartered Accountant.

Harvest Executive Chairman Brian McMaster said, "We are delighted to welcome Jack to the Board and believe that his exemplary financial background will play a key role as we enter the next stage and focus on developing sales of our KPfértil multi-nutrient, direct application natural fertiliser. I would also like to thank Mark for his time and support and wish him every success for the future."

Related Party Transaction

As noted below, Mr James is a director and 50 per cent. shareholder of Palisade Business Consulting Pty Limited ("Palisade"). The Company has an ongoing relationship with Palisade whereby it provides the Company with registered office, company secretarial, accounting and book-keeping services, which had a value of approximately A$170,700 for the financial year ended 30 June 2017. As a result, Palisade is classified as an associate of a related party of the Company. As such, the existing contract in place between the Company and Palisade constitutes a related party transaction. The independent directors of the Company (being the directors other than Mr James), having consulted with the Company's nominated adviser, Strand Hanson Limited, considers that the terms of the Palisade contract are fair and reasonable insofar as the Company's Shareholders are concerned.

Additional information

The following additional information is provided in accordance with AIM Rule 17 and Schedule Two, paragraph (g) of the AIM Rules for Companies:

Jack Robert James (aged 53)

 
 Current directorships/partnerships   Previous directorships/partnerships 
                                       (last 5 years) 
-----------------------------------  ------------------------------------ 
 Apical Partners Pty                  Ausmex Mining Group Limited 
  Ltd 
-----------------------------------  ------------------------------------ 
 Avonglade Enterprises                Castillo Copper Limited 
  Pty Ltd 
-----------------------------------  ------------------------------------ 
 Cass Phaedra Skaya Pty               Castillo Exploration Pty 
  Ltd                                  Ltd 
-----------------------------------  ------------------------------------ 
 Greencape Holdings Pty               Blackstar Petroleum Limited 
  Ltd 
-----------------------------------  ------------------------------------ 
 Haranga Resources Limited            Demeter Consulting Pty Ltd 
-----------------------------------  ------------------------------------ 
 Nomad Mining Pty Ltd                 Far North Minerals Pty Ltd 
-----------------------------------  ------------------------------------ 
 Palisade Business Consulting         Firestone Energy Limited 
  Pty Ltd 
-----------------------------------  ------------------------------------ 
 Palisade Business Consulting         Hunnu Coal Pty Ltd 
  (CS) Pty Ltd 
-----------------------------------  ------------------------------------ 
 Reeve Ventures Pty Ltd               Icon Gold Pty Ltd 
-----------------------------------  ------------------------------------ 
 Sturic Pty Ltd                       KREAC Investments Pty Ltd 
-----------------------------------  ------------------------------------ 
 Upcity Investments Pty               KREAC Pty Ltd 
  Ltd 
-----------------------------------  ------------------------------------ 
 Vega Funds Pty Ltd                   Martu Mining Services Limited 
-----------------------------------  ------------------------------------ 
 Wolf Petroleum Limited               Martu Holdings Pty Ltd 
-----------------------------------  ------------------------------------ 
                                      Outback Training Services 
                                       Pty Ltd 
-----------------------------------  ------------------------------------ 
                                      Premiere Eastern Energy 
                                       Limited 
-----------------------------------  ------------------------------------ 
                                      TWB Drilling Limited 
-----------------------------------  ------------------------------------ 
                                      Ultracharge Limited 
-----------------------------------  ------------------------------------ 
                                      Westar Industrial Limited 
-----------------------------------  ------------------------------------ 
 

At the time of his appointment, Mr James holds no shares or options over shares in the Company.

Other than the information set out above, there is no other information required to be disclosed in connection with the appointment of Mr James under AIM Rule 17 and Schedule Two, paragraph (g) of the AIM Rules for Companies.

ENDS

For further information please visit www.harvestresources.org or contact:

 
 Harvest Minerals        Brian McMaster    Tel: [phone] 
  Limited                 (Chairman)        1847 
 Strand Hanson Limited   James Spinney     Tel: +44 (0)20 
  (Nominated Financial    Ritchie Balmer    7409 3494 
  Adviser) 
 Mirabaud Securities     Rory Scott        Tel: +44 (0)20 
  LLP                                       7878 3360 
  (Broker) 
 Beaufort Securities     Jon Bellis        Tel: +44 (0)20 
  Ltd                                       7382 8300 
  (Joint Broker) 
 Whitman-Howard          Grant Barker      Tel: +44 (0)20 
  Ltd                                       7659 1225 
 St Brides Partners      Isabel de Salis   Tel: +44 (0)20 
  Ltd                                       7236 1177 
                         Olivia Vita 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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July 03, 2017 02:00 ET (06:00 GMT)