20th Jul 2020 15:47
(Alliance News) - KEFI Minerals PLC on Monday said it has brought on the chair and founder of African aquaculture firm FirstWave Group BV as a non-executive director of the company.
Adam Taylor will join KEFI board immediately and will represent significant new shareholder RAB Capital.
Taylor has long-standing business experience within Africa, having founded FirstWave in 2011. He also acted as portfolio manger for the investment management firm Liongate Capital Management, over-seeing primary sector hedge fund investments and later was managing director of Oakfield Holdings, an African investment firm.
KEFI Executive Chair Harry Anagnostaras-Adams said: "As well as cementing our relationship with KEFI's largest institutional shareholder, RAB Capital, Adam brings a wealth of hands-on business experience in Africa, coupled with significant international investment expertise, which will be invaluable to the company as we progress our projects in Ethiopia and Saudi Arabia."
London-based investment company RAB Capital holds a 12% stake in KEFI and back in May was granted the right to nominate a board director as long as its holding remains at or above 10%.
Since 2015, Cyprus-based KEFI has advanced the Tulu Kapi gold project in Ethiopian, expecting 140,000 ounces to be mined open-pit annually over a seven-year period.
KEFI shares were down 2.0% at 1.73 pence on Monday afternoon in London.
By Neetika Kurup; [email protected]
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