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ASTRON LIMITED — Board/Management Information 2021
Feb 16, 2021
64449_rns_2021-02-16_08c26f71-deda-4b8f-b7ca-0e40658ccaec.pdf
Board/Management Information
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17 February 2021
Appointment of Managing Director
Astron Corporation Limited (ASX:ATR) (“Astron”) advises that it has appointed Mr Tiger Brown as the Managing Director of Astron, effective immediately.
Tiger was appointed a director in December 2019 and has been serving as an Executive Director since that time, with responsibility for direct oversight of the company over recent months.
Commenting on the appointment of Tiger Brown as the Managing Director, Mr Gerard King, Chairman, said “The board has been impressed with Tiger’s capabilities and drive since his appointment to the board as an Executive Director. He has overseen a substantial body of work as part of the company’s prime focus to move the Donald mineral sands project, in Victoria, to commercialisation. I have confidence that Tiger will be able to assemble a strong team to support the company at this important stage of its evolution.”
Tiger holds a BSc in Economics from the Wharton School of Business at the University of Pennsylvania, and has been working with Astron since 2018, holding various business development, planning and executive roles in China and Australia.
Mme Kang Rong, who has been serving as Managing Director since December 2019, will remain as an Executive Director and Chief Marketing Officer of Astron, focused on global sales and marketing, the delivery of off-takes for the Donald project and the company’s Chinese operations. Mme Rong is thanked for her contribution.
Tiger Brown commented:
“It is an honour to lead Astron through its next stage, the principal focus of which is progressing a body of work to a Definitive Feasibility Study stage and associated detailed projects economics, sufficient to support development of the Donald Mineral sands project. Donald will represent an important, globally significant new source of mineral sands including rare earth production.
As a major shareholder in Astron, I can convey that my interests are aligned with all other shareholders – existing and future – in establishing the company as a reputable and recognised Australian mining and processing company.”
A summary of Tiger Brown’s terms as Managing Director are as follows:
| Remuneration: | $100,000per annum |
|---|---|
| Incentive payments: | The company currently does not operate a short or long-termincentive plan. As such, there is no separate entitlement to shortor long-term incentivepayments,at this stage. |
| Term of employment: | No fixed term, and not subject to any probation period given priorservice |
| Termination: | Either party can terminate without cause at any time with 6 months’notice.The Company may terminate withoutnotice in certaincircumstances including ill-health, serious misconduct or othercircumstances thatjustifyimmediate termination |
| Registered Office: 31/F., 148 Electric Road North Point, Hong Kong |
This announcement is authorised by the Board of Directors of Astron Corporation Limited.
About Astron Corporation Limited
Astron Corporation Limited (ATR: ASX) is an ASX listed mining and processing company, with extensive (30 years+) experience in mineral sands processing, technology and downstream product development, as well the marketing and sale of zircon and titania (titanium dioxide) products, most notably in China. Astron conducts a mineral sands trading operation based in Shenyang, China and operates a zircon and titanium chemicals and metals research and development facility in Yingkou, China. The company’s prime focus is upon the development of the large, long-life and attractive zircon and rare earth assemblages Donald Mineral Sands deposit in the Murray Basin, Victoria. Donald has the ability to represent a new major source of global supply in mineral sands. Astron is also the owner of the Niafarang mineral sands project in Senegal, West Africa. Niafarang is a high-grade coastal mineral sands deposit, planned to be developed using simple dredge mining and processing methodology.
For further information, please contact:
Gerard King, Chairman +61 3 5385 7088 Joshua Theunissen, Australian Company Secretary +61 3 5385 7088