Legacy Iron Ore announced that Mr Rana Som and Mr Narendra Kumar Nanda have joined Legacy as Non Executive Directors, following shareholder approval at the recent Extraordinary General Meeting.

Mr Som is the current CMD of National Mineral Development Corporation Ltd, who will become Legacy’s largest shareholder following approval for a placement to NMDC at the Extraordinary General Meeting.

Mr Nanda is the Director (Technical) for NMDC.

In addition, Legacy is also please to announce the appointment of Mr
Swaminathan Thiagarajan, NMDC’s Director (Finance) as a nonexecutive director.

Ms Sharon Heng MD of Legacy believes that the appointments will represent a significant turning point in Legacy’s growth, and an ability to take the Company to the next level of the global resources industry.

She said “Legacy will be unique among Australian public companies in having this level of Indian representation on our board. Mr Som, Mr Nanda and Mr Thiagarajan will bring in excess of 75 years worth of managerial and mining experience to Legacy at a time when the company is seeking to develop its current assets and secure additional resource projects. This experience and their networks throughout India and Asia will be invaluable as we transition from a junior explorer into a diversified resources company.”

Legacy also announced the resignation of Mr Tim Turner and Mr John Hebenton as non-executive directors as part of the terms of the Share Subscription agreement, whereby NMDC would appoint 3 directors to the board as a majority.