TIDMGFM
RNS Number : 9981G
Griffin Mining Ld
01 April 2022
8(th) Floor, 54 Jermyn Street, London, SW1Y 6LX. United
Kingdom
Telephone: + 44 (0)20 7629 7772 Facsimile: + 44 (0)20 7629
7773
E mail: griffin@griffinmining.com
Annual general meeting
Proposed Change of Directors
Extension of Share Purchase Options
1(st) April 2022
Annual General Meeting
Griffin Mining Limited ("the Company") announces that the 2021
Annual General Meeting ("AGM"), delayed by the impact of Covid 19,
will be held at Level 9, BGC Centre, 28 The Esplanade, Perth, West
Australia on Thursday 5(th) May 2022 at 4.00 pm local time (9.00 am
GMT). Formal notice of the meeting will be sent to shareholders
shortly.
Change of Directors
Dal Brynelsen
Mr Dal Brynelsen has requested that he be allowed to retire as a
director of the Company and he will not seek re-election at the
AGM. As a long serving, founding director of the Company, Mr
Brynelsen has been instrumental in the drive, political and
technical issues which have found, developed and operated the
Caijiaying Mine and propelled the success of the Company. With his
reputation unmatched, he remains a giant of the mining industry and
his presence and enthusiasm at the holding company level cannot be
replaced.
As such, the Company is delighted to confirm that Mr Brynelsen
has acquiesced to remain a director of the Company's operating
subsidiary in China, Hebei Hua Ao Mining Industry Company Limited,
so the Company can continue to benefit from his mining expertise
and his wealth of knowledge on operations, logistics and local
issues in China.
New Directors
At the forthcoming AGM it has been proposed by the Company's
major shareholders, holding over 50% of the outstanding shares in
the Company, that Ms Linda Naylor and Mr Dean Moore be elected
Independent Non- Executive Directors of the Company.
Ms Naylor is a graduate of the London School of Economics and a
Fellow of the Institute of Chartered Accountants in England &
Wales. A former partner in Grant Thornton UK LLP, her experience
has been gained over more than twenty years working as a Nominated
Adviser in the Capital Markets team and as an Audit Partner
specialising in the natural resource sector. She was Chair of the
Audit Committee whilst a Governor of Portsmouth University. As
Finance Director of AIM listed Chaarat Gold Holdings Limited from
2009 to 2018, she worked as part of a small executive team. Her
responsibilities encompassed financial reporting, investor
relations and fund raising as that company transitioned from gold
explorer to developer in the Kyrgyz Republic.
Mr Dean Moore is a Fellow of the Institute of Chartered
Accountants in England & Wales with extensive public company
experience having previously been Chief Financial Officer at
Cineworld Group plc, N Brown Group plc, T&S Stores plc and
Graham Group plc and formerly non-executive Chairman of Tuxedo
Money Solutions Limited. He is currently a Director and Interim
Chief Financial Officer of Dignity plc and an independent
non-executive director and Chairman of the Remuneration Committee
at Cineworld Group plc and Audit Committee Chairman and Senior
Independent Director of Volex plc.
Extension of Share Purchase Options.
With the unanimous agreement of all the issued option holders,
the exercise periods of share purchase options have been extended
from 31(st) December 2022 to the 31(st) December 2023, over:
1. 4,558,333 new ordinary shares, all of which have vested,
exercisable at 40 pence per new ordinary share; and
2. 15,667,200 new ordinary shares, all of which have vested,
exercisable at 30 pence per new ordinary share.
This recognises the impact and delays in the development of the
Company's assets caused by the Covid 19 pandemic and will prevent
the need, in the short-term, for the majority of the option
holders, once exercising their options, to sell a significant
portion of the resulting shares to meet the associated subscription
costs and personal income tax liabilities imposed on such
exercise.
Within the above, the following persons discharging management
responsibility have agreed to the extension of options in which
they have an interest.
Name Number of options Number of options
exercisable at 40 exercisable at
pence per new ordinary 30 pence per new
share. ordinary share.
All vested All vested
Roger Goodwin - Finance director 500,000 1,500,000
------------------------ ------------------
Dal Brynelsen - Director - 900,000
------------------------ ------------------
About Griffin Mining Limited
Griffin Mining Limited's shares are quoted on the Alternative
Investment Market (AIM) of the London Stock Exchange (symbol GFM).
Griffin Mining Limited owns and operates in China, through its
88.8% owned Joint Venture stock company, the Caijiaying Zinc Gold
Mine, a profitable mine producing zinc, gold, silver, and lead
metals in concentrates. For more information, please visit the
Company's website www.griffinmining.com.
Further information
Griffin Mining Limited
Mladen Ninkov - Chairman Telephone: +44(0)20 7629 7772
Roger Goodwin - Finance Director
Panmure Gordon (UK) Limited Telephone: +44 (0)20 7886 2500
John Prior
Ailisa MacMaster
Berenberg Telephone: +44(0)20 3207 7800
Matthew Armitt
Jennifer Wyllie
Deltir Elezi
BlytheRay
Tim Blythe Telephone: +44(0)20 7138 3205
Swiss Resource Capital AG
Jochen Staiger Telephone: + 41(0)71 354 8501
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of Article 7 of the Market Abuse Regulation (EU) No. 596/2014
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END
MSCUAOURUUUSRAR
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April 01, 2022 08:36 ET (12:36 GMT)
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