AI assistant
HAZER GROUP LIMITED — Board/Management Information 2017
Feb 6, 2017
65086_rns_2017-02-06_678d208e-6be1-4415-bf49-d7d0fbc4850d.pdf
Board/Management Information
Open in viewerOpens in your device viewer
Hazer Group Ltd Suite 7, 29 The Avenue, Nedlands, WA 6009 PO Box 1458, West Perth WA 6872
==> picture [237 x 61] intentionally omitted <==
BOARD APPOINTMENT & RESIGNATION
PERTH, AUSTRALIA; 7[th] FEBRUARY 2017: Hazer Group Ltd (“Hazer” or “the Company”) (ASX:HZR, HZRO) today announces the appointment of Terry Walsh, Hazer’s Chief Development Officer, as a Non-Executive Director, following the resignation of Non-Executive Director Bryant McLarty.
Mr McLarty was appointed to the Board of Hazer in April 2015 to lead the Company’s capital raising strategy and transition to an ASX listed company. A year on from the Company’s successful listing on the ASX, Hazer is now evolving towards commercialisation with the construction and commissioning of the Company's pre-pilot plant facility.
In light of this, the Board welcomes new Non-Executive Director Terry Walsh, who will add commercial and development experience to the Board.
Mr Walsh is a senior commercial lawyer and manager with more than 20 years’ experience in project development and general commercial law, including roles as a Corporate Counsel with Rio Tinto Ltd and as General Counsel of Hancock Prospecting Pty Ltd. In these roles he was involved with the legal and commercial aspects associated with the development, funding and operation of major mining and engineering projects.
Mr Walsh joined Hazer in March 2016 as the Company’s Chief Development Officer and has been instrumental in driving Hazer’s business development roadmap since listing, and played a leading role in the previously announced Memorandum of Understanding with Pan American Hydrogen Inc.
As Hazer enters this new phase of commercialisation and development, Mr Walsh will continue to provide business advisory services to the Company and lead the effort to prioritise and convert numerous opportunities being presented to the Company.
Hazer Managing Director, Geoff Pocock said “I wish to thank Bryant for his efforts and leadership in establishing Hazer as an ASX listed company. Bryant is a strong supporter of Hazer and has continued to be an on market purchaser of shares since Hazer listed on the ASX. As the scale-up of the Hazer Process continues I look forward to drawing on Terry’s extensive commercial experience.”
With Mr Walsh joining the board, and the recently bolstered Science Advisory Committee, the Company will continue to work closely with these advisors to increase the commercial and technical capability and to assist with the on-going scale up of the Hazer Process.
The key terms of Mr Walsh’s consultancy agreement and director’s remuneration are set out in the attached schedule.
WWW.HAZERGROUP.COM.AU
KEY TERMS OF CONSULTING AGREEMENT ;
Parties: Hazer Group Ltd and Walsh Consulting (WA) Pty Ltd
Term: Commencing 14 March 2016 and to continue until terminated by Walsh Consulting (WA) Pty Ltd on 28 days written notice or on 56 days written notice by Hazer Group Limited.
Compensation:
-
A A monthly retainer of $8,500 plus GST as at 14 March 2016 (reduced to $6,500 plus GST as at 1 January 2017);
-
B 100,000 shares in Hazer Group Ltd issued upon appointment for no consideration;
-
C 250,000 Series E Options (30c options expiring 31 December 2018).
Working hours: The Consultant to provide the services of Terry Walsh for 18 working hours per week, plus excess travel commitments when required.
KEY TERMS OF ENGAGEMENT AS A NON-EXECUTIVE DIRECTOR;
Term: Commencing 7 February 2017
Compensation:
-
A A director’s fee of $25,000 per annum, plus superannuation calculated as per the legislative minimum;
-
B Subject to shareholder approval, 450,000 options over ordinary shares with an exercise price of $0.75 and expiry date of 30 June 2020 and vesting 6 months after appointment (Series G) and 450,000 options over ordinary shares with an exercise price of $0.90, expiry date of 31 December 2020 and vesting 18 months after appointment (Series H).
Working hours: As much time as is necessary to perform the role as non executive director.
[ENDS]
WWW.HAZERGROUP.COM.AU
ABOUT HAZER GROUP LTD
Hazer Group Limited (“Hazer” or “The Company”) is am ASX-listed technology development company undertaking the commercialisation of the Hazer Process, a low-emission hydrogen and graphite production process. The Hazer Process enables the effective conversion of natural gas and similar feedstocks, into hydrogen and high quality graphite, using iron ore as a process catalyst.
For further information, investor or media enquires, please contact:
Michael Wills – Hazer Group
Email: [email protected] Phone: 0468 385 208
Hazer Group Limited - Social Media Policy
Hazer Group Limited is committed to communicating with the investment community through all available channels. Whilst ASX remains the prime channel for market sensitive news, investors and other interested parties are encouraged to follow Hazer on Twitter (@hazergroupltd), LinkedIn, Google+ and Youtube.
WWW.HAZERGROUP.COM.AU