NASDAQ OMX

Proposal for a new Board of Directors in Nordic Mines

5.1.2016 12:00 | NASDAQ OMX

Dela

The English text is an unofficial translation of the Swedish original, and in the event of any discrepancies between the Swedish text and the English translation the Swedish text shall prevail. This is not a legal document.

PRESS RELEASE 5 January 2016

Nordic Mines AB's (publ) ("Nordic Mines" or the "Company") new majority owner Lau Su Holding AB ("Lau Su" or the "Majority Owner") has to the current Board of Directors of Nordic Mines announced their proposal for a new Board of Directors of the Company. The proposal is a Board of eight Directors comprising of Mr. Vinod Sethi (Chairman), Mr. Hans Andreasson, Mr. Torsten Börjemalm, Mr. Salim Govani, Mr. Kari Langenoja, Mr. Pranay Panda, Mr. D. Saradhi Rajan and Mr. Krister Söderholm.

Background
With the conclusion of Nordic Mines rights issue for existing shareholders (the "Rights Issue") Nordic Mines gained a majority owner - Lau Su, which now owns 61.5 per cent of the shares in the Company. Lau Su is controlled by a number of investors with a background within mining, finance and investments. On the request from the Main Owner the Board of Directors of Nordic Mines has called for an Extra General Meeting (the "EGM") on January 7, 2016 to among other things elect a new Board of Directors. The Majority Owner has now to the current Board of Directors of Nordic Mines announced their proposal for a new Board of Directors of the Company.

The Proposal
The Majority Owner proposes re-election of Mr. Krister Söderholm (Finnish resident) and new election of Mr. Vinod Sethi (Indian resident), Mr. Hans Andreasson (Swedish resident), Mr. Torsten Börjemalm (Swedish resident), Mr. Salim Govani (Indian resident), Mr. Kari Langenoja (Swedish resident), Mr. Pranay Panda (Swedish resident) and Mr. D. Saradhi Rajan (UK resident).

Mr. Vinod Sethi is proposed for election as Chairman of the Board.

In the opinion of the Majority Owner, Mr. Torsten Börjemalm, Mr. Kari Langenoja and Mr. Krister Söderholm are independent of any major shareholders in the Company whilst Mr Vinod Sethi, Mr. Hans Andreasson, Mr. Salim Govani, Mr. Pranay Panda and Mr. D. Saradhi Rajan are dependent of the Majority Owner. Further, in the opinion of the Majority Owner, all proposed Directors are independent of the Company and its executive management.

The Majority Owner further proposes that the remuneration for independent Directors should remain at 200 000 sek per annum but that no remuneration should be paid to Directors that are dependent of any major shareholders in the Company.

The proposed members of the Board have a long-standing background in the mining industry as well as considerable experience in business and finance in general. The Majority Owner believes that the proposed Board has the diversity and breadth in terms of its members' varying expertise, experience and background that are appropriate to the Company's activities and stage of development. It is the Majority Owners aim that the reconstituted Board of Directors will provide strategic direction and provide an overview of the roadmap ahead for the development of Nordic Mines. Key strategic and management decisions will be announced subsequently.

Information on proposed Directors

Mr. Vinod Sethi (Chairman)
Mr. Sethi is a former Managing Director of Morgan Stanley Asset Management Inc. and pioneered international investing in India. His expertise is within investments.

Mr. Hans Andreasson (Director)
Mr. Andreasson is a Senior Partner of the Swedish law firm Mannheimer Swartling Advokatbyrå AB.

Mr. Torsten Börjemalm (Director)
Mr. Börjemalm is a senior veteran of the Swedish Mining Industry with rich contributions to among other mining projects the Björkdal Gold Mine and to Lappland Goldminers as its Chairman.

Mr. Salim Govani (Director)
Mr. Govani is an Indian based investment professional with extensive experience of investing within a diverse range of industries.

Mr. Kari Langenoja (Director)
Mr. Langenoja is a financial and accountant consultant with extensive experience from several companies in different industries.

Mr. Pranay Panda (Director)
Mr. Panda is the Chairman of Lau Su and has an extensive record within investments in several industries.

Mr. D. Saradhi Rajan (Director)
Mr. Rajan is a former Senior Vice President of Vedanta Resources plc. and the founder of Legacy Hill Resources Ltd.  He has led the acquisition, profitable rehabilitation and growth of natural resource assets across the world.

Mr. Krister Söderholm (Director)
Mr. Söderholm has served at the Board of Directors in Nordic Mines several times, most recently as a Director since 2013. He has also held the position as Managing Director for the Laiva project. Mr. Söderholm has furthermore held the position as Chief Inspector of Mines in Finland and also held management and board positions in several mining companies in Sweden and in Finland.

For further information, please contact:
Pranay Panda, Chairman, Lau Su Holding, +46 (0)70-552 60 78
Eva Kaijser, CEO, Nordic Mines, +46 (0)70-932 09 01

For more information about Nordic Mines, please visit www.nordicmines.se.

The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published on 5 January 2016 at 12:00 a.m.

Nordic Mines is a Nordic mining and exploration company. The Laiva mine in Finland produced gold between 2011 and 2014. The deposit is among the largest in the Nordic region. Nordic Mines is a member of Svemin and applies its reporting regulations for public mining and exploration companies. The Nordic Mines share has been admitted for trading on the Nasdaq Stockholm's Small Cap list. Also refer to www.nordicmines.se.




This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Nordic Mines AB via Globenewswire

HUG#1976699

Om

NASDAQ OMX
NASDAQ OMX



Följ NASDAQ OMX

Skriv in din e-postadress så får du ett mejl när vi har något nytt att berätta.

Senaste pressmeddelandena från NASDAQ OMX

Nasdaq Welcomes I-AM Capital Acquisition Company (Nasdaq: IAMXU) to The Nasdaq Stock Market17.8.2017 18:50Pressmeddelande

NEW YORK, Aug. 17, 2017 (GLOBE NEWSWIRE) -- I-AM Capital Acquisition Company (Nasdaq:IAMXU), a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, celebrated its initial public offering (IPO) on The Nasdaq Stock Market.  I-AM Capital's founders, Chief Executive Officer F. Jacob Cherian and Chief Financial Officer Suhel Kanuga, have been focused on investing into India over the last decade, with the distinction of completing the first listed-SPAC investment in India. "Through our keen focus and unique accomplishments in India over the last decade, we have seen our investment thesis bear fruit: India's prominence and rise on the world stage, its distinction as being one of the fastest growing major economies of the world, and its strong vibrant consumer demographics. We believe these factors are aligning well now,

Tetraphase Pharmaceuticals Announces Submission and Validation of IV Eravacycline Marketing Authorization Application by European Medicines Agency17.8.2017 14:30Pressmeddelande

WATERTOWN, Mass., Aug. 17, 2017 (GLOBE NEWSWIRE) -- Tetraphase Pharmaceuticals, Inc. (NASDAQ:TTPH), a clinical-stage biopharmaceutical company developing novel antibiotics to treat life-threatening multidrug- resistant (MDR) infections, today announced that the Marketing Authorization Application (MAA) for IV eravacycline for the treatment of complicated intra-abdominal infections (cIAI) has been submitted and was validated by the European Medicines Agency (EMA). Eravacycline is a novel, fully-synthetic fluorocycline antibiotic being developed for the treatment of serious infections, including those caused by multidrug-resistant (MDR) pathogens. The MAA filing is based on data from the phase 3 IGNITE1 clinical trial in which eravacycline was well tolerated and demonstrated statistical non-inferiority to ertapenem using the primary endpoint of clinical response at the test-of-cure (TOC) visit. "The MAA filing represents a significant milestone for Tetraphase as it is our

RedHill Biopharma Announces U.S. Commercialization Agreement for FDA-Approved GI Product Esomeprazole Strontium Delayed-Release Capsules17.8.2017 13:00Pressmeddelande

RedHill was granted the exclusive rights to promote Esomeprazole Strontium Delayed-Release (DR) Capsules to gastroenterologists in certain U.S. territories Esomeprazole Strontium DR Capsules 49.3 mg is an FDA-approved, proprietary, prescription proton pump inhibitor (PPI), indicated for adults for the treatment of gastroesophageal reflux disease (GERD) and other gastrointestinal (GI) conditions   RedHill expects to initiate the U.S. promotion of Esomeprazole Strontium  DR Capsules 49.3 mg  in the coming weeks   Esomeprazole Strontium  DR Capsules 49.3 mg  will be the third commercial GI product to be promoted by RedHill in the U.S.    RedHill's GI-focused sales force currently promotes two GI s

Brand Industrial Services Announces Agreement to Acquire Venko Groep BV16.8.2017 19:40Pressmeddelande

Complementary core strengths provide broader range of services for customers KENNESAW, GA, Aug. 16, 2017 (GLOBE NEWSWIRE) -- Brand Industrial Services, known as BrandSafway, has signed an agreement to acquire Venko Groep BV, a portfolio company of Mentha Capital. Venko will become a part of the Brand Energy & Infrastructure Services (Brand) group. "We are very pleased to announce the agreement with Venko," said Bill Hayes, President and CEO of BrandSafway. "Our combined customers in Europe will benefit from a broader range of solutions and greater depth of expertise in access, insulation and coatings. Bringing Venko's highly specialized knowledge in coatings to BrandSafway will provide the expertise we need to expand our services in the offshore market worldwide." Based in the Netherlands, with a focus on operations in the North Sea area, Venko is a leading offshore and onshore coatings maintenance provid

Abeona Therapeutics Announces Pivotal Expansion of ABO-102 Gene Therapy Clinical Trials in Sanfilippo Syndrome Type A16.8.2017 15:38Pressmeddelande

NEW YORK and CLEVELAND, Aug. 16, 2017 (GLOBE NEWSWIRE) -- Abeona Therapeutics Inc. (Nasdaq:ABEO), a leading clinical-stage biopharmaceutical company focused on developing novel gene therapies for life-threatening rare diseases, today announced the pivotal expansion of its gene therapy clinical trials for patients with MPS IIIA in the USA, Europe and Australia. "We have completed the necessary regulatory and ethical committee approvals and site initiations in Europe and Australia in order to accelerate enrollment," stated Juan Ruiz, M.D., Ph.D., Abeona's Chief Medical Officer. "We remain very encouraged by the improvements observed in clinically relevant biomarkers post-dosing of ABO-102, including durable reductions in heparan sulfate measured in the CNS, reduction of organ disease pathology, and signals of CNS improvement or stabilization at one-year follow-up in Cohort 1 subjects, and look forward to providing a more fulsome clinical update at important clinical

CallidusCloud Wins Eight Gold Stevies® in the 2017 International Business Awards16.8.2017 14:00Pressmeddelande

CallidusCloud Lead to Money suite recognized as Best B2B New Product of the Year. LeadRocket voted Best New Product or Service of the Year in the Software - Lead Generation Solution category. DUBLIN, Calif., Aug. 16, 2017 (GLOBE NEWSWIRE) -- Callidus Software Inc. (NASDAQ:CALD), a global leader in cloud-based sales, marketing, learning, and customer experience solutions, announced today that it was named the winner of eight Gold Stevie® awards in the 2017 International Business Awards. "The eight Stevie® awards earned highlight CallidusCloud's momentum, commitment to excellence, passion for innovation and customer orientation," said Leslie Stretch, president and CEO of CallidusCloud. "They also recognize the benefits that the Lead to Money suite, honored as the Best New Product in Business-to-Business, accrues to its customers in terms of enabling faster, bigger, and more profitable sales." CallidusCloud's Go

I vårt pressrum kan du läsa de senaste pressmeddelandena, få tillgång till pressmaterial och hitta kontaktinformation.

Besök vårt pressrum