Trident Royalties PLC. Board Changes (3630G)

TIDMTRR

RNS Number : 3630G

Trident Royalties PLC.

26 July 2021

26 July 2021

Trident Royalties Plc

("Trident" or the "Company")

Board Changes

Trident Royalties Plc (AIM: TRR, FSX: 5KV), is pleased to announce the appointment of Mr. Peter Bacchus as Non-Executive Director with immediate effect. Additionally, James Kelly will step down from his position as a Non-Executive Director with immediate effect, to pursue other business interests.

Peter Bacchus is currently Chairman and Chief Executive of Bacchus Capital, an independent investment banking boutique with particular expertise in the natural resources sector. Peter has over 25 years of experience as a leading global M&A adviser, with particularly deep experience within natural resources having advised some of the largest companies in the sector. Throughout Peter's career he has been at the forefront of several large and transformative M&A transactions, financed substantial deals, and advised on development projects worldwide.

Peter previously acted as the Global Head of Mining and Metals at Morgan Stanley and European Head of Investment Banking at Jefferies. Before relocating to London in 2006, he was based in Australia and Indonesia, where he was Asia-Pacific Head of Industrials and Natural Resources investment banking at Citigroup. Peter currently sits on the boards of New York and Johannesburg Stock Exchange listed Gold Fields Limited, London Stock Exchange listed Kenmare Resources Plc and Australian Stock Exchange listed Galaxy Resources Limited. He is also Chairman of Africa-focused conservation charity, Space for Giants.

Peter holds an MA from St John's College, Cambridge and is a Member of the Institute of Chartered Accountants in England and Wales.

Peter Bacchus, commented:

"I am delighted to have been asked to join Trident Royalties as a Non-Executive Director at such a pivotal time for the Company. In a short space of time Trident has rapidly developed itself as a credible provider of metals royalties and streams, with 12 royalties already in place and others under consideration. Trident is exceptionally well positioned to develop further, and I look forward to being a part of the Company as it continues with its goal of building a large-scale royalty and streaming company.

"I look forward to assisting Adam and his team with helping further advance Trident's business and in turn create value for our shareholders."

Paul Smith, Non-Executive Chairman, commented:

"I am delighted to welcome Peter to our board. I believe that we will benefit greatly from his extensive advisory experience and deep knowledge of the natural resources sector as we scale the business. I look forward to working closely with Peter to accelerate the growth of Trident.

I would also like to take the opportunity to thank James for his contribution to Trident since its inception. As Chairman, James was instrumental in the initial establishment of Trident as an investment company and subsequent transformation into a successful royalty business, overseeing a period of rapid growth. He leaves the business with a robust platform for future growth with a portfolio of attractive royalty assets, a strong balance sheet and leadership team. We wish him every success with his other ventures."

Revised board committees

Following the board changes set out above, the sub-committees of the board will be amended and will be constituted as follows:

 
 Audit Committee         Remuneration Committee   Nominations Committee 
 Peter Bacchus (Chair)   Al Gourley (Chair)       Paul Smith (Chair) 
                        -----------------------  ---------------------- 
 Al Gourley              Helen Pein               Peter Bacchus 
                        -----------------------  ---------------------- 
 Paul Smith              Paul Smith               Helen Pein 
                        -----------------------  ---------------------- 
 

Further regulatory Information in relation to the appointment of Mr Peter Bacchus

 
 Full name:                                              Peter James Bacchus 
 Age:                                                               52 years 
                                       ------------------------------------- 
 Current directorships or                               308 Services Limited 
  partnerships:                             Bacchus Capital Advisers Limited 
                                             Bacchus Capital Special Sits V1 
                                                                     Limited 
                                             Bacchus Capital Special Sits V2 
                                                                     Limited 
                                         Bacchus Capital Tactical Situations 
                                                                     Limited 
                                                    Galaxy Resources Limited 
                                                         Gold Fields Limited 
                                            Kenmare Resources Public Limited 
                                                                     Company 
                                                            Space For Giants 
                                       ------------------------------------- 
 Former directorships or partnerships                          Nord Gold Plc 
  (previous 5 years):                      (previously Nord Gold SE and Nord 
                                                                    Gold NV) 
                                       ------------------------------------- 
 Ordinary shares held in the                                             Nil 
  Company 
  (at 26 July 2021) 
                                       ------------------------------------- 
 

There is no further information required to be disclosed under Rule 17 or paragraph (g) of Schedule 2 of the AIM Rules for Companies.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 which is part of UK law by virtue of the European Union (withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

** Ends **

Contact details:

 
 Trident Royalties Plc                         www.tridentroyalties.com 
  Adam Davidson                                       [phone] 
 Grant Thornton (Nominated Adviser)             www.grantthornton.co.uk 
  Colin Aaronson / Samantha Harrison /                [phone] 
  Lukas Girzadas 
                                            --------------------------- 
 Tamesis Partners LLP (Joint Broker)            www.tamesispartners.com 
  Richard Greenfield                                   [phone] 
                                            --------------------------- 
 Shard Capital Partners LLP (Joint Broker)         www.shardcapital.com 
  Erik Woolgar / Isabella Pierre                       [phone] 
                                            --------------------------- 
 St Brides Partners Ltd (Financial PR        www.stbridespartners.co.uk 
  & IR)                                                [phone] 
  Susie Geliher / Catherine Leftley 
                                            --------------------------- 
 

About Trident

Trident is a growth-focused, diversified mining royalty and streaming company, providing investors with exposure to a mix of base and precious metals, bulk materials (excluding thermal coal) and battery metals.

Key highlights of Trident's strategy include:

-- Building a royalty and streaming portfolio to broadly mirror the commodity exposure of the global mining sector (excluding thermal coal) with a bias towards production or near-production assets, differentiating Trident from the majority of peers which are exclusively, or heavily weighted, to precious metals;

-- Acquiring royalties and streams in resource-friendly jurisdictions worldwide, while most competitors have portfolios focused on North and South America;

-- Targeting attractive small-to-mid size transactions which are often ignored in a sector dominated by large players;

-- Active deal-sourcing which, in addition to writing new royalties and streams, will focus on the acquisition of assets held by natural sellers, such as: closed-end funds, prospect generators, junior and mid-tier miners holding royalties as non-core assets, and counterparties seeking to monetise packages of royalties and streams which are otherwise undervalued by the market;

-- Maintaining a low-overhead model which is capable of supporting a larger scale business without a commensurate increase in operating costs; and

-- Leveraging the experience of management, the board of directors, and Trident's adviser team, all of whom have deep industry connections and strong transactional experience across multiple commodities and jurisdictions.

The acquisition and aggregation of individual royalties and streams is expected to deliver strong returns for shareholders as assets are acquired on terms reflective of single asset risk compared with the lower risk profile of a diversified, larger scale portfolio. Further value is expected to be delivered by the introduction of conservative levels of leverage through debt. Once scale has been achieved, strong cash generation is expected to support an attractive dividend policy, providing investors with a desirable mix of inflation protection, growth and income.

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July 26, 2021 02:00 ET (06:00 GMT)