Hmmmmmmmmmmmmmmmm.......................
MANAGING DIRECTOR RESIGNS Legacy Iron Ore Limited (Legacy Iron or the Company) advises that Sharon Heng has resigned as Managing Director and has stepped down from the Board with effect on 31 October 2014. Having been one of the founding directors of the Company upon listing on 8 July 2008 with heavy involvement in the Company’s Mt Bevan project, Ms Heng has indicated that she will now pursue other opportunities and interests.
The resignation of Ms Heng follows a review and analysis by the Board of financial transactions for the period June 2011 to present within the Company, which has culminated in an agreement by Ms Heng to pay approximately $868,000 to the Company with payments scheduled to occur over the next 5 years on an interest bearing basis, and the Company being entitled to immediately request appropriate security on normal commercial terms to secure performance of the agreement to repay this sum.
The Board acknowledges Ms Heng’s services to the Company.
Hmmmmmmmmmmmmmmmm....................... MANAGING DIRECTOR...
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