Appointment of Director

ID: 1559657
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(businesspress24) - Jadar Resources Limited (ASX:JDR) (Jadar, the Company) is pleased to announce the appointment of Mr Navinderjeet Singh (Navin Sidhu) as an Executive Director of the Company, effective immediately.

Mr Navin Sidhu has extensive experience in senior management positions. He has worked in a number of roles and sectors, giving him a firm grasp of managing businesses as a whole and from a creative point of view. He has held roles such as Head of Corporate and Commercial Sales, worked in one of the oldest money market brokers at the Interest Rate Swaps and Bonds desk and has been an Investment Analyst and Head of Business Development for investment funds. His senior management roles include Group CEO of a listed UK Company and he has held a number of Executive Director roles. Mr Sidhus experience extends over 20 years in equity and derivatives, with over 10 years in the mining and resource industry, including dealing in physical commodities such as gold, silver and zinc.

Mr Sidhu has set up listed, and run multiple, successful companies in the UK, Malaysia, Singapore, Hong Kong and Europe. His forte is successfully turning companies around and building shareholder value. With a firm grasp and understanding of bonds, swaps and financial instruments, he has written articles for finance and investment magazines, newspapers and has appeared on financial TV programs.

He has a history of growing the value of multiple companies and enhancing shareholder value. In his previous role as Group CEO, Mr Sidhu significantly grew the value of the UK listed company within a two-year period.

Mr Sidhu is also a sophisticated investor himself and has been involved in many commercial ventures such as capital raisings, convertible notes and underwriting.

Commenting on the addition to the Jadar Board of Directors, Non-Executive Chairman Luke Martino said, The appointment of Navin is very strategic for the Company and adds immense value to all shareholders. He joins Adrian Paul as an Executive Director. With Adrian and Navin, the Company has exceptional and experienced corporate management as a proven team. Navin joins the Board to contribute his knowledge and expertise in funding and financial instruments, opening up a number of new opportunities for the Company and its projects. We look forward to Navins valuable contribution as the Company becomes a major resource player.



The key terms and conditions of Mr Sidhus appointment are formalized in a contract and include the agreement to pay Mr Sidhu $10,000 per month (excl. GST). The term of his contract is 36 months and either party may elect to terminate with three months notice.

Mr Sidhu and Mr Paul will each receive 10,000,000 Performance Rights (20,000,000 in total), subject to shareholder approval. The issue of the Performance Rights is to appropriately incentivise the Directors and to assist the Company in retaining their services and expertise in a manner which does not unduly impact on cash reserves. Each Director Performance Right will vest into one Share subject to the achievement of a 5 day Volume Weighted Average Price (VWAP) of Shares on ASX being equal to or exceeding $0.10 per share within a period of 1 year from issue of the securities. The securities will be issued under the Companys Performance Rights and Option Plan.

ENDS

For further information, please contact:

Luke Martino
Non-Executive Chairman
Tel: +61 8 6489 0600
E: luke(at)jadar.com.au

Jadar Resources Limited
311-313 Hay Street Subiaco, Western Australia 6008
T:+61 (0) 8 6489 0600
F: +61 (0) 8 9388 3701
www.jadar.com.au

This ASX announcement was authorised for release by the Board of Jadar Resources Limited.






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Date: 07/23/2020 - 04:41
Language: English
News-ID 1559657
Character count: 7332
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