Ecora Resources PLC Chair Succession (6145Z)
January 15 2024 - 1:00AM
UK Regulatory
TIDMECOR
RNS Number : 6145Z
Ecora Resources PLC
15 January 2024
15 January 2024
Ecora Resources PLC
("Ecora" or the "Company")
Chair Succession
Ecora Resources PLC (LSE/TSX: ECOR) announces that, following a
thorough recruitment process, Andrew Webb will join the Board and
succeed Patrick Meier as non-executive Chair of the Board.
To allow for an orderly transition of responsibilities, Andrew
will join the Board as an independent non-executive director and
Chair designate on 15 January 2024. It is anticipated that Andrew
will take over as Chair following the 2024 Annual General Meeting
on 2 May 2024.
As detailed in the 2022 Annual Report, Patrick Meier is now in
his ninth year as a non-executive director and is therefore nearing
the end of his maximum term under the UK Corporate Governance Code.
The Nomination Committee, led by Varda Shine, the Company's Senior
Independent Director, commenced a process to find Patrick's
successor which has now been successfully concluded with the
appointment of Andrew.
Andrew spent the majority of his career at N M Rothschild &
Sons where he was a Managing Director with a focus on natural
resources and mining. He is also an experienced non-executive
director and currently serves on the Boards of Kenmare Resources
plc and a number of private and not-for-profit entities.
Andrew will become Chair of the Nomination Committee upon his
appointment as Chair of the Board.
Varda Shine, Senior Independent Director of Ecora, said:
"The Board is delighted to welcome an individual of Andrew's
quality and experience to the Board. The Nomination Committee,
assisted by an external search firm, completed an extensive process
which culminated in Andrew's appointment. We look forward to Andrew
joining the Board immediately before assuming the role of Chair in
May, following an orderly transition period.
"The Board would also like to place on record its thanks to
Patrick for his service and leadership over the past nine years, as
both Chairman and non-executive director. We wish him all the best
for the future."
Andrew Webb, Chair designate, commented on his appointment:
"Ecora is well positioned with a clear growth strategy capable
of transforming the Company in the coming years. I am delighted to
be joining at such an exciting time in the Company's evolution and
look forward to working with the Board to continue to make
successful investments for the long-term benefit of our
shareholders and broader stakeholders given the critical importance
of Ecora's strategic focus to fund projects in commodities that
will support a sustainable future."
For further information
Ecora Resources PLC +44 (0) 20 3435 7400
Geoff Callow - Head of Investor Relations
Website: www.e cora-resources. com
Camarco
Gordon Poole / Owen Roberts / Elfie Kent +44 (0) 20 3757 4997
About Ecora Resources
Ecora Resources is a leading royalty company focused on
supporting the supply of commodities essential to creating a
sustainable future.
Our vision is to be globally recognised as the royalty company
of choice synonymous with commodities that support a sustainable
future by continuing to grow and diversify our royalty portfolio in
line with our strategy. We will achieve this through building a
diversified portfolio of scale over high quality assets that drives
low volatility earnings growth and shareholder returns.
The mining sector has an essential role to play in the energy
transition, with commodities such as copper, nickel and cobalt -
key materials for manufacturing batteries and electric vehicles.
Copper also plays a critical role in our electricity grids. All
these commodities are mined and there are not enough mines in
operation today to supply the volume required to achieve the energy
transition.
Our strategy is to acquire royalties and streams over low-cost
operations and projects with strong management teams, in
well-established mining jurisdictions. Our portfolio has been
reweighted to provide material exposure to this commodity basket
and we have successfully transitioned from a coal orientated
royalty business in 2014 to one that by 2026 will be materially
coal-free and comprised of over 90% exposure to commodities that
support a sustainable future. The fundamental demand outlook for
these commodities over the next decade is very strong, which should
significantly increase the value of our royalty portfolio.
Ecora's shares are listed on the London and Toronto Stock
Exchanges (ECOR) and trade on the OTCQX Best Market (OTCQX:
ECRAF).
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