Chesterfield Resources plc is considering new openings in the United Arab Emirates following the board resignation of 17.9% shareholder Polymetal International’s representative.
JUNIPER INTERNATIONAL
The move follows the pending sale of Chesterfield shares by Polymetal, represented by non-executive director (NED) Evgeny Vrublevskiy, to private investment holding and advisory company Juniper International FZ LLC.
Chesterfield, which has copper exploration assets in Canada and Cyprus, said that sale completion of Polymetal’s passive stake remained subject to final regulatory considerations.
Newly appointed NED is the owner of Juniper International FZ LLC, Kashif Afzal.
The UAE-based businessman is also an advisor to “a number of institutional and family office investors” and a director of Blockbase Asia and Bosonic Energy.
Mr Afzal is a graduate of Oxford University and the professional programme at the Camborne School of Mines.
Chesterfield said that his experience and network in the UAE would help in the “identification and financing of additional opportunities for the company”.
Interim chief executive officer and chief financial officer Ajay Kejriwal has for “some time” been a consultant to Juniper Capital Partners Ltd.
Chesterfield executive chairman Paul Ensor added: “We are grateful for the support that Chesterfield has received from Polymetal since it became a shareholder in 2020 and to Mr Vrublevskiy’s contribution to the board and we wish him well for the future
“We are very pleased to welcome Mr Afzal to the board at an important time for the company as it contemplates additional initiatives.”