Board Changes
13 Septembre 2010 - 3:16PM
UK Regulatory
TIDMGPN
RNS Number : 5859S
Gladstone Pacific Nickel Limited
13 September 2010
13 September 2010
GLADSTONE PACIFIC NICKEL LIMITED
(ACN 104 261 887)
Board Changes
Gladstone Pacific Nickel Limited ("GPNL" or the "Company") announces that Mr
Neil Eugene Meadows has resigned as Acting Managing Director of the Company
effective 13 September 2010. Neil has resigned from the Board as he does not
consider himself independent in relation to the current offer being made for the
Company by QNI Resources Pty Ltd ("QNR").
Under the requirements of the Australian Corporations Act, the Company is
required to have a minimum of three directors. In order to comply with these
requirements, the Company has appointed Mr Clive Frederick Palmer to the Board
effective immediately.
A further announcement in relation to the appointment of Mr Palmer, including
the information required under Schedule 2(g) of the AIM Rules for Companies,
will be made as soon as possible.
Mr Palmer has an interest of 50.04% of the issued share capital of GPNL through
his wholly owned subsidiary QNR. QNR is currently undertaking a takeover offer
for GPNL.
ENDS
For more information or comment
Julien McInally - Gladstone Pacific Nickel Ltd
Tel:+61(0)7 3231 7100
Fiona Owen / Robert Beenstock - Grant Thornton Corporate Finance
Tel:+44 20 7383 5100
Richard Johnson - Arbuthnot Securities
Tel: +44 20 7012 2000
Email: info@gladstonepacific.com.au
Gladstone Pacific Nickel Limited is an Australian mining development company
presently undertaking an Integrated Definitive Feasibility Study for the
Gladstone Nickel Project. The Company's vision is to build a major long-life
nickel cobalt refinery at the deepwater Port of Gladstone, in Central
Queensland, Australia, treating abundant high grade nickel laterite ores from
New Caledonia and other south-west Pacific islands, underpinned by beneficiated
ores from its own Marlborough deposits. The Project has the potential to be one
of the largest of its type in the world producing some 126,000 tpa nickel (8 -
10% of global nickel demand) and 10,400 tpa of cobalt metal from its first two
stages.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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