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MarketScreener Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Magnis Energy Technologies Ltd    MNS   AU000000MNS3

MAGNIS ENERGY TECHNOLOGIES LTD

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Magnis Energy Technologies : appoints Managing Director

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11/08/2018 | 10:02am EDT

Magnis Energy Technologies Ltd ('Magnis' or the 'Company') is pleased to announce the appointment of Non-Executive Director Marc Vogts as Managing Director.

Marc will oversee the major growth of the Company.

The appointment will take effect on 15 November 2018.

Marc, a project executive has an experienced and illustrious career spanning over four decades with an extensive track record in running multi-billion-dollar projects. He was previously Project Director for the QMM Project in Madagascar for Rio Tinto, Vice President for Project Management for BHP Billiton and Vice President for all Uranium Projects including Olympic Dam for BHP Billiton.

Many of the complex projects that Marc has led include significant research and development scopes and the successful commercialisation of these ventures.

Marc was the founding CEO and is currently the Executive Director of Energy and Resources at the John Grill Centre for Project Leadership at the University of Sydney, a world leading project leadership executive education for value creation and realisation in large-scale projects.

Magnis Chairman, Frank Poullas said: 'Magnis is entering into an extensive growth phase and it's great to have Marc as Managing Director. His experience in running complex projects with thousands of employees in some of the most difficult jurisdictions, for some of the largest companies, will be critical and of significant importance to the Company moving forward.'

'The name change to Magnis Energy Technologies better reflects Magnis' business activities and the great progress being made on our projects. As a Company, I believe we should be very excited for the future as we work towards becoming one of the largest players in the lithium-ion battery sector.'

Incoming Managing Director, Marc Vogts said: 'There is something really special building at Magnis, and we can play a major role in making a difference in the world. I believe I can leverage off my project experience, to set up New York and Townsville for success and to provide input into the investment decisions around Nachu. I'm very excited to be taking on a more active role in the Company.'

A summary of the key terms of the Managing Directors engagement are attached.

Name Change and Logo

The change of the Company's name was recently approved by shareholders at the Annual General Meeting to reflect the operations and value that Magnis is creating now and in the future. While Magnis is focused on bringing the Nachu project into development, the Company is vertically integrated in the production of lithium- ion batteries and not just a mining company.

After consulting with stakeholders, a new logo has been selected to reflect the name change and business activities going forward.

Battery Plants and Financing

Recent discussions with governments for potentially new battery plants have progressed, with agreements expected in the coming quarter. Any future battery plants are expected to come with some initial funding.

Talks with three groups is in progress for the financing of the Nachu Graphite Project and are expected to continue over the coming months with all parties going through due diligence on the project.

Contact:

Tel: +61 2 8397 9888

(C) 2018 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP LTD 0.43% 37.13 End-of-day quote.8.00%
MAGNIS ENERGY TECHNOLOGIES LTD 0.00% 0.165 End-of-day quote.-44.07%
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NameTitle
Marc Vogts Managing Director & Non-Executive Director
Frank Poullas Non-Executive Chairman
Rodney J. Chittenden Head-Operations
Megan McPherson Chief Financial Officer
Johann Christiaan Jooste-Jacobs Independent Non-Executive Director
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