Avenira Limited

Key Leadership Appointments

Avenira Limited (ASX: AEV) is pleased to announce a restructure of its leadership team in line with previous announcements regarding investment by Hebang Biotechnology1, marking a pivotal step in the company's strategic direction and project development growth. Avenira is a pivotal project developer with a Yellow Phosphorous project at Wonarah and a Lithium Iron Phosphate project in Darwin, Northern Territory.


Appointment of Mr. Mo Yang as Chairman and CEO

Avenira is pleased to announce the appointment of Mr. Mo Yang as Chairman and Chief Executive Officer (CEO). Mr. Yang brings extensive experience in strategy, business performance and funding that aligns with Avenira’s objectives in developing the Yellow Phosphorous project at Wonarah. Mr. Yang holds a Master’s Degree in Accounting and is a Certified Practicing Accountant (CPA) with CPA Australia.

A summary of the material terms of Mr. Yang’s appointment are as follows:

  • Role: Mr. Yang will undertake the role of Chairman and Chief Executive Officer providing strategic funding, managerial operation and technical expertise and knowhow to the company including performing all duties from time to time vested in or assigned to him by the Board.
  • Remuneration:
    • Annual Salary: $250,000 AUD
    • Short-term Incentives:
      • Annual Performance Bonus: Up to 50% of the annual salary, contingent on achieving pre-defined company objectives and individual performance metrics.
    • Long-term Incentives:
      • Share Options: A grant of 24 million share options, subject to shareholder approval
        • Strike price of $0.02 for 12 million options
        • Strike price of $0.03 for 12 million options
        • Exercisable over a period of 3 years
  • Termination: The company may terminate Mr. Yang’s employment on six months’ notice and Mr. Yang may terminate his employment on three months’ notice.

Leadership Transition: Mr. Brett Clark

In conjunction with Mr. Mo Yang’s appointment, Mr. Brett Clark, who has successfully led the company as Chairman and CEO, will transition to the role of Deputy Executive Chairman. With Brett’s background of project development including Project Owner’s key representative for Marandoo (Rio Tinto) development, construction and operations of first mine; Board Director (Oakajee) and Project Director (Murchison) for multi $billion Oakajee Port and Rail project, a Mitsubishi/ Murchison JV; and CFO / Financial Controller Tethyan Copper Company, Reko Diq Project Development (Barrick Gold/ Antofagasta Limited), the worlds 4th largest Copper/ Gold discovery2 places Avenira in good stead with respect to project development.


Click here for the full ASX Release

This article includes content from Avenira Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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