Kennedy Ventures PLC Directorate Change (0593T)
July 15 2015 - 3:00AM
UK Regulatory
TIDMKENV
RNS Number : 0593T
Kennedy Ventures PLC
15 July 2015
15 July 2015
Kennedy Ventures plc
Directorate Change
Kennedy Ventures, which is focused on tantalite production in
Namibia through its 75% holding in African Tantalum (Pty) Limited
("Aftan"), announces that as part of its planned transition to
focus on the tantalite industry, both Peter Redmond and Colin
Weinberg have resigned as Directors of the Company with immediate
effect.
Mr Redmond and Mr Weinberg have accrued outstanding fees
amounting to GBP10,000 each and it is expected that this will be
satisfied through the issue of new ordinary shares in the Company
in due course.
Giles Clarke, Chairman of Kennedy Ventures commented:
"I would like to thank both Peter and Colin for all their hard
work in the reorganisation of the Company which now gives
shareholders an exciting future as we redevelop our investment in
the tantalite industry."
ENDS
For further information, please contact:
Kennedy Ventures plc 020 3757 4983
Peter Hibberd c/o Georgia Mann
Cenkos Securities (Nominated
Adviser and Joint Broker) 0131 220 6939
Derrick Lee / Nick Tulloch
Shore Capital (Joint Broker) 020 7408 4090
Mark Percy / Toby Gibbs (corporate
finance)
Jerry Keen (corporate broking)
Peterhouse Corporate Finance
(Joint Broker)
Duncan Vasey 020 7469 0935
Camarco
Billy Clegg / Georgia Mann 020 3757 6983
Notes to editors
Tantalite concentrates form the vast majority of feedstock for
all tantalum products. As such they are critical and unreplaceable
parts of a wide range of modern electronics including computers,
tablets, mobile phones, motor components and video game
systems.
Aside from electronics, tantalum has significant usage in super
alloys, specialised steels, corrosion resistant equipment and
medicine.
Tantalum's applications are based on its unique physio -
chemical properties. The oxides and metal have extremely high
melting points, high heat conductivity and strong resistance to
corrosive environments. Combined, these factors have entrenched its
international demand and made it an important component of numerous
research projects and new technologies.
Trade pricing is following tantalum markets as per Asian Metals
and Metal Pages.
In August 2012, the US Securities and Exchange Commission
adopted a rule mandated by the Dodd-Frank Wall Street Reform and
Consumer Protection Act to require companies reporting to the SEC
to publicly disclose the origins of the tantalum they buy in order
to restrict the use of conflict minerals that originated in the
Democratic Republic of the Congo or an adjoining country. As a
result, users of tantalum are encouraged to demonstrate that their
supply chain is transparent to ensure that conflict-free tantalum
is procured.
It is intended that the tantalum produced by Aftan will be
conflict-free.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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