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Directorate Changes
FERRUM CRESCENT LIMITED
(Incorporated and registered in Australia and registered as an external company
in the Republic of South Africa)
(Registration number A.C.N. 097 532 137)
(External company registration number 2011/116305/10)
Share code on the ASX: FCR
Share code on AIM: FCR
Share code on the JSE: FCR
Australian ISIN: AU000000WRL8
South African ISIN: AU000000FCR2
26 September 2017
Ferrum Crescent Limited
(“FCR”, the “Company” or the “Group”)(ASX, AIM, JSE: FCR)
Directorate Changes
FCR, the lead-zinc exploration company, announces that Mr Justin Tooth, Executive
Chairman, has resigned from the board of directors of the Company (the “Board”) with
immediate effect, in order to pursue his other business interests.
Mr Grant Button, currently a non-executive director of the Company and the company
secretary, residing in Australia, will assume the role of non-executive Chairman, also
with immediate effect. Mr Laurence Read, previously a non-executive director, residing
in the United Kingdom, will become an executive director and work alongside the
Board, with the Company’s geological team and consultants. Mr Evan Kirby, a non-
executive director of the Company, residing in Australia, will remain in his current role
and provides an important resource for the Company, as a highly experienced project
development manager.
As part of the new Board’s commitment to reduce costs, no changes in salary or
remuneration will be made regarding the new Board composition at this time.
Additionally, the Company does not currently intend to employ a new full-time CEO
with associated remuneration package. Instead, FCR will look to maximize its
exploration expenditure on the Toral, lead-zinc, project.
The Board would like to thank Justin Tooth for his important input during a key
transition period for the Company, as it has effected the divestment of the Moonlight
iron ore assets, located in South Africa, and completed the acquisition of its Spanish
lead-zinc operations.
FCR looks forward to announcing an update on strategic pathways for the Toral lead-
zinc project in Spain, following work currently being undertaken by a new external,
JORC complaint, independent geological group overseen by the Company’s technical
consultant, Mr Myles Campion and the Board.
Commenting today, Mr Grant Button, FCR’s Chairman, said:
“I would like to thank Justin for all of his hard work over the past 18 months and he
leaves with the Company now an active lead zinc explorer. FCR has reached a key
phase in its exploration and evaluation activities on the Toral lead-zinc asset, and the
focus is now to efficiently enhance the value of the project, through meaningful
exploration, whilst reducing administrative costs. With this in mind I look forward to
updating the market shortly with a number of initiatives on the Toral project once our
consultants have completed their review work.”
For further information on the Company, please visit www.fcrexploration.com www.ferrumcrescent.com
or contact:
Ferrum Crescent Limited
Grant Button, Chairman (Australia)
T: +61 8 9474 2995
Laurence Read, Director (UK)
T: + 44 (0)20 3289 9923
Strand Hanson Limited (Nominated Adviser)
Rory Murphy / Matthew Chandler
T: +44 (0)20 7409 3494
Peterhouse Corporate Finance Limited (Broker)
Lucy Williams / Duncan Vasey / Heena Karani
T: +44 (0)20 7469 0930
Beaufort Securities Limited (Broker)
Elliot Hance
T: +44 (0)20 7382 8300
Bravura Capital (Pty) Ltd (JSE Sponsor)
Melanie De Nysschen
T (direct): +27 11 459 5052
The information contained within this announcement is deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulation (EU) No. 596/2014.
Date: 26/09/2017 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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