Executive Addition to the Board of Directors
Amur Minerals Corporation (AIM: AMC) is pleased to announce it has appointed Mr. Adam Habib as President and Executive Board Member to the Company. Effective 1 September 2020, Mr. Habib will continue to guide and advance funding and strategic partnership considerations allowing for the continued development of the Company’s far east Russian Kun-Manie nickel and /copper sulphide project.
The Company’s focus will be on the execution of Binding Offtake Contract(s) and funding of the mutually supportive Russian and Western Definitive Feasibility Studies.
Mr. Adam Habib was appointed Advisor to the Board on Transactions and Corporate Development in February this year (see announcement dated 13 February 2020) and has successfully delivered the investment, alongside Glencore, into Nathan River Resources Pte Limited (“Nathan River”) which owns the Roper Bar Iron Ore Project located in the Northern Territory in Australia.
Robin Young, CEO of Amur Minerals Corporation, commented :
“We are pleased to bring Adam into the Amur Mineral’s executive team as President and as an executive member of the Board of Directors. In just over seven months, acting as a financial advisor to the Company, he successfully identified, structured and completed our investment in the Australian iron ore producer Nathan River Resources.
“We are now entitled to receive a 14% quarterly interest payment or convert our funding to a 19% equity holding of the existing issued share capital of Nathan River. These revenues will support funding, development and compilation of the Kun-Manie electric vehicle nickel-copper sulphide product bankable feasibility study.”
Released 27th Aug 2020
Mr. Habib is an experienced senior banker having 17 years of investment banking experience (Credit Suisse, Lehman Brothers and recently ICBC Standard Bank) with a proven track record in the energy, mining and infrastructure industries. Most recently he was a Senior Adviser to the Board of Cofely Endel Engie (formerly Cofely Endel GDF Suez 2015-2016), part of the Engie Group which is one of the largest energy utility companies in Europe with a market capitalisation of c.€38 billion (c.£34 billion) and annual revenues of c.€61 billion (c.£54 billion).
During Adam’s time in investment banking he led both the Capital Markets and Investment Banking teams as part of the management distribution committee in Europe for Credit Suisse Investment Bank. Adam is a specialist in Energy and Mining finance transactions (acquisition finance, development finance and project finance). He has worked on some of the largest Engineering & Procurement and Mining transactions in the world in Russia, Africa, Latin America, Central Asia and the North Sea. Adam’s extensive relationships across the banking and mining industry will further enhance the Company’s business network and are expected to bring significant new value to Amur.
The following information is disclosed pursuant to Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies in relation to Adam Salim Habib, aged 53:
Adam Habib was a director of Jubilee Financial Products Holdings Limited and some of its subsidiaries when they entered into a creditor voluntary liquidation. Adam was a director of (i) Jubilee Financial Products Holdings Limited when it entered into a creditor voluntary liquidation on 07 September 2015. The total estimated deficiency as to creditors was £896,733. It was dissolved on 21 February 2017 (ii) JFP Securities Limited when it entered into a creditor voluntary liquidation on 07 September 2015. The total estimated deficiency as to creditors was £69,468. It was dissolved on 10 February 2017 (iii) Jubilee Financial Products LLP when it entered into a creditor voluntary liquidation on 07 September 2015. The total estimated deficiency to creditors was £385,152 (iv) Jubilee Financial Products Hong Kong Limited when it entered into a voluntary liquidation on 12 October 2016. It was dissolved on 24 February 2017.
Adam Habib, and his connected persons, hold an interest in 5,131,868 ordinary shares of the Company, representing approximately 0.38% of the total outstanding share capital of the Company. Adam Habib also holds 25,619,260 share options over ordinary shares of the Company, exercisable at 1.95 pence. Further information about these options has been provided in the RNS dated 13 February 2020.
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