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

 

By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>

ALSO:

Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>

ALSO:

Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>

ALSO:

Divesting: NZ Super Fund Shifts Passive Equities To Low-Carbon

The NZ$35 billion NZ Super Fund’s NZ$14 billion global passive equity portfolio, 40% of the overall Fund, is now low-carbon, the Guardians of New Zealand Superannuation announced today. More>>

ALSO:

Split Decision - Appeal Planned: EPA Allows Taranaki Bight Seabed Mine

The Decision-making Committee, appointed by the Board of the Environmental Protection Authority to decide a marine consent application by Trans-Tasman Resources Ltd, has granted consent, subject to conditions, for the company to mine iron sands off the South Taranaki Bight. More>>

ALSO: