11 November 2019
Eurasia Mining plc
Alexander Sushchev appointed as strategic advisor to the board
Strategic Advisor appointment:
Eurasia is pleased to announce the appointment of Alexander Vasilievich Sushchev (PhD in metallurgy) as strategic adviser to the Board. Alexander is a former Chief Executive Officer of SMCM (molybdenum and rhenium metals producer, that he helped sell to a company affiliated with Rusal) as well as former manager of Norilsk Nickel, the world’s largest palladium producer. Alexander will be working closely with the Directors of Eurasia, Mr Alexei Churakov as well as with the banks as the Company is working on a potential disposal of the Company’s assets as announced on 24 October 2019. There can, however, be no guarantee that any transaction will occur.
Alexander will not receive a salary for his role. However, it is noted that Alexander will receive 10% share in Deloan Investments Limited (“Deloan”), a Company owned and controlled by Dmitry Suschov (Director of the Company), which holds a 10.42% interest in the Company. This will help avoid the dilution of the shareholders and will allow the right success oriented motivation of Alexander.
Following this transfer, holdings in Deloan reflect the following:
Dmitry Suschov holds 64.528% of Deloan and accordingly has 6.72% indirect interest in Eurasia through Deloan and with his additional direct holding of 190,270,430 ordinary shares has a 13.92% interest in Eurasia;
Alexei Churakov holds 25.472% of Deloan and accordingly has 2.65% indirect interest in Eurasia through Deloan and with his additional holding of 39,682,774 ordinary shares has a 4.16% interest in Eurasia; and
Alexander Vasilievich Sushchev holds 10% of Deloan and accordingly has an interest of 1.04% indirectly in Eurasia.
Alexander received his PhD degree in metallurgy from Moscow State University of Fine Chemical Technologies named after Lomonosov.
Queeld Ventures still hold 307,250,000 shares which, following various warrant exercises now represent 11.63% of the issued shares in the Company.
Following the announcement made on 8 November 2019, application has been made for the Warrant Shares to be admitted to trading on AIM, an dealings are expected to commence on or around 14 November 2019 (“Admission”). These shares will rank pari passu with the ordinary shares of the Company in issue.
The Company’s total issued share capital upon Admission of the Warrant Shares will be 2,642,813,280 ordinary shares. As the Company does not hold any shares in Treasury, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency rules.
Christian Schaffalitzky, Chairman added: “I am delighted to formalise our relationship with Alexander, whom I have known for many years. We have been fortunate to have his advice for over 10 years and he has made the tasks of licencing our projects much easier. His contacts and experience working at the top level of the PGM and base metals businesses are important in our ongoing discussions, as we explore strategic opportunities for our assets”
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