Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Revised Services Agreement and Board Changes

Revised Services Agreement and Board Changes

June 11 2014

Following recent meetings between CRP and Boskalis, the two parties have agreed a variation to the services agreement that the parties entered into July 2012 (the “Variation Agreement”).

Under the Variation Agreement, Boskalis will assist CRP with the marine consent application; including providing technical advice and making available personnel with relevant technical expertise to attend the anticipated application hearings. The granting of marine consent is the next key step in the Company’s development and the Board welcomes the continuing involvement of Boskalis in this process.

Consideration for the services to be performed under the Variation Agreement is expected to be satisfied by the shares issued to Boskalis in 2012, which formed a prepayment for services to be provided by Boskalis.

Further to the Variation Agreement, and in anticipation of CRP’s Admission to AIM, Mr. Jacobus (Ko) de Blaeij, the Boskalis representative on CRP’s board, has stepped down as a director of CRP. It has been agreed in principle that CRP will formalise an expert advisory panel to assist the CRP Board on technical matters and it is intended that Mr De Blaeij will chair that panel.

The Board would like to thank Ko for his support to the Company over the last few years and looks forward to accessing his extensive experience through his new role as the chairman of the new technical advisory panel.

CRP is also making significant progress with its AIM listing and capital-raising. CRP has carried out a review of the Board structure and the company’s governance in preparation of Admission to AIM. As a result, Linda Sanders has stepped down as Executive Chairman and Robert Goodden has been appointed as the new Non-Executive Chairman of the Board. Robert is based in the United Kingdom and has extensive marine mining experience and industry links.

The Board thanks Linda for her tremendous contribution as Chairman. She will continue her critical executive director role of Corporate Affairs Director.

Focus is now on the AIM listing and capital-raising.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Must Sell 20 Petrol Stations: Z Cleared To Buy Caltex Assets

Z Energy is allowed to buy the Caltex and Challenge! petrol station chains but must sell 19 of its retail sites and one truck-stop, the Commerce Commission has ruled in a split decision that acknowledges possible retail price coordination between fuel retailers occurs in some regions. More>>

ALSO:

Huntly: Genesis Extends Life Of Coal-Fuelled Power Station To 2022

Genesis Energy will keep its two coal and gas-fired units at Huntly Power Station operating until 2022, having previously said they'd be closed by 2018, after wringing a high price from other electricity generators who wanted to keep them as back-up. More>>

ALSO:

Dammed If You Do: Ruataniwha Irrigation Scheme Hits Farmer Uptake Targets

Enough Hawke's Bay farmers have signed up for water from the proposed Ruataniwha Water Storage Scheme for it to go ahead as long as a cornerstone institutional capital investor can be found to back it, its regional council promoter announced. More>>

ALSO:

Reserve Bank: OCR Stays At 2.25%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.25 percent, in a decision traders had said could go either way, while predicting inflation will pick up as the slump in oil prices washes out of the data and capacity pressures start to build in the economy. More>>

ALSO:

Export Values Down: NZ Posts Biggest Annual Trade Deficit In 7 Years

New Zealand has recorded its biggest annual trade deficit since April 2009, reflecting weaker prices of agricultural commodities such as dairy products, beef and lamb, and increased imports of vehicles and machinery. More>>

ALSO:

Currency Events: NZ's New $5 Note Wins International Banknote Award

New Zealand’s new Brighter Money $5 note has been named Banknote of the Year in a prestigious international competition. The $5 note was awarded the IBNS Banknote of the Year title at the International Bank Note Society’s annual meeting. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news