PR-Inside.com: 2023-12-18 19:50:31
HORIZONTE STRENGTHENS ITS BOARD WITH THE APPOINTMENT OF TWO INDUSTRY LEADERS
LONDON, UK / ACCESSWIRE / December 18, 2023 / Horizonte Minerals Plc (AIM:HZM)(TSX:HZM) ("Horizonte" or the "Company"), the nickel development company, is pleased to confirm the appointments of Paul Smith as Non-Executive Director and Chair of the Board of the Company and of Karim Nasr as an Executive Director of the Company.
As previously announced on 27 November 2023, the Board proposed the appointment of Paul Smith as Non-Executive Director and Chair, succeeding Vincent Benoit who had agreed to act as interim Chair and who will now continue his role as a Non-Executive Director, in addition to the appointed Mr Nasr as an Executive Director. Mr Smith and Mr Nasr's appointments were subject to receipt of the usual director certifications in accordance with the AIM Rules. The Company's Nominated Advisor, Peel Hunt, have now completed the due diligence processes, and Mr Smith's and Mr Nasr's appointments have been confirmed by the Board, effective immediately.
Following this announcement, Horizonte's Board will be comprised of five members, of which the following three members are considered independent under the QCA Corporate Governance Code: Paul Smith, Gillian Davidson and John MacKenzie.
Mr Nasr has also been appointed as interim CEO (as announced on 27 November 2023) to lead the financing and restructuring process for the Company and to work with the Board to appoint a new senior leadership team. In the process, Mr Nasr temporarily stepped down from his day-to-day executive role within La Mancha Resource Capital LLP to devote himself to Horizonte, agreeing to a Conflict of Interest Protocol, a summary of which is set out below.
About Paul Smith
Mr Smith is a corporate finance professional and senior board member with extensive experience of driving industry-leading performance at natural resource focused companies. He worked for Glencore plc ("Glencore") from 2011 to 2020, as Head of Strategy. During this period, Glencore successfully completed numerous large scale corporate and capital markets transactions.
Paul was also the CFO of Katanga Mining Limited, Glencore's TSX-listed and DRC-based subsidiary from 2019 until its de-listing in 2020. He represented Glencore as a non-executive director of Lonmin plc and Glencore Agriculture Ltd.
Prior to Glencore, Mr. Smith was an analyst and fund manager at Marshall Wace Asset Management. Paul co-founded Voltaire Minerals Partners in 2022.
About Karim Nasr
Mr Nasr has over 25 years of experience in corporate finance and investments, including leading one of Brazil's largest corporate restructurings. Before joining Horizonte , Mr Nasr was Managing Partner and Co-Chief Investment Officer of La Mancha Resource Capital LLP, which is the investment adviser to the La Mancha Resource Fund SCSp, one of the Company's major indirect shareholders. Previously, Mr Nasr was the CEO and CIO of Digital World Capital (DWC), an FCA regulated investment manager investing globally and across the capital structure in Telecom and Media companies. From 2001 to 2011, Mr Nasr was in charge of Corporate Finance at Wind Telecom s.p.a. & Orascom Telecom Holding s.a.e., raising US$68bn in capital and closing US$67bn in M&A transactions. In particular, he led the 2011 US$25bn merger with VEON, the 2005 US$17bn Wind Telecom Leveraged Buy-Out and managed the 2009
EUR3.8bn debt restructuring of Wind Hellas in Greece.
Mr Nasr also serves on the board of Elemental Altus Royalties Corp (TSX-V:ELE) (AIM:ALS) and G Mining Ventures Corp. (TSX-V:GMIN).
For further information, visit
www.horizonteminerals.com or contact:
Horizonte Minerals plcPatrick Chambers (Head of IR)
info@
horizonteminerals.com+44 (0) 203 356 2901
Peel Hunt LLP (Nominated Adviser & Joint Broker)Ross AllisterRichard CrichtonDavid McKeownBhavesh Patel
+44 (0)20 7418 8900
BMO (Joint Broker)Thomas RiderPascal Lussier DuquetteAndrew Cameron
+44 (0) 20 7236 1010
Barclays (Joint Broker)Philip LindopRichard Bassingthwaighte
+44 (0)20 7623 2323
Tavistock (Financial PR) Jos SimsonCath Drummond
+44 (0) 20 7920 3150
RegulatoryThe following information is disclosed under Rule 17 of the AIM Rules for Companies ("AIM Rules") and Schedule Two Paragraph (g) of the AIM Rules:
Paul Norman Smith, aged 53, is or has been a director of the following companies in the past five years:
Current Directorships
Past Directorships (within the last five years)
Bunker Hill Mining Corp
Trident Royalties PLC
Seadrill Ltd
Glencore Agriculture Ltd
Echion Technologies Ltd
Collingwood Capital Partners AG
Voltaire Minerals GmbH
There is no further information which is required to be disclosed under Schedule Two, paragraph (g) of the AIM Rules for Companies in respect of Paul Smith.
Mr Smith does not hold any ordinary shares nor options over ordinary shares in the Company.
Karim Michel Nasr, aged 53, is or has been a director of the following companies in the past five years:
Current Directorships
Past Directorships (within the last five years)
Elemental Altus Royalties Corp
WIND Telecom Weather II Special Purpose I
G Mining Ventures Corp.
WIND Telecom Weather II Special Purpose II
La Mancha Star Investments S.à r.l.
WIND Telecom Venus II
La Mancha Treasury Ltd
WIND Telecom Venus Investments
La Mancha Global Holding S.à r.l.
World Capital Services limited
La Mancha Precious Metals S.A.
Digital World Capital Services limited
La Mancha Africa S.à r.l.
La Mancha Services UK Ltd
La Mancha Resource Capital LLP
Altus Strategies Plc
Digital World Capital LLP
Golden Star Resources Ltd
La Mancha Holdings S.à r.l.
Mr Nasr does not hold any ordinary shares nor options over ordinary shares in the Company.
In addition, Mr Nasr was also a director of Weather Finance III S.à r.l. ("Weather") until July 2010. As a result of the economic crisis in Greece following the Global Financial crisis, Weather ran into financial difficulties and on 14 December 2010, Weather entered an administration process under English law. The administration process ended on 5 July 2013. The total shortfall to the secured creditors of Weather totalled EUR786m.
Mr Nasr was also a director of WIND Hellas Telecommunications S.A. ("WIND"), a subsidiary of Weather, until 16 December 2010. WIND entered an administration process under English law on 15 December 2010 and was sold on 16 December 2010 as a going concern under a pre-packaged sale arrangement.
There is no further information which is required to be disclosed under Schedule Two, paragraph (g) of the AIM Rules for Companies in respect of Karim Nasr.
Summary of the Conflict of Interest Protocol
In relation to the appointme
