BRISBANE, Australia, Oct. 03, 2022 (GLOBE NEWSWIRE) -- Allkem Limited (ASX|TSX: “Allkem,” the “Company”) advises Deputy Chair, Mr Rob Hubbard will retire from the Board effective 3 October 2022.

Mr Hubbard was appointed as a Director of Allkem Limited (“formerly Orocobre”) in November 2012 and was appointed as Chair in July 2016. Following the merger with Galaxy Resources Limited (“Galaxy”) in 2021, Mr Hubbard assumed the role of Deputy Chair.

Mr Hubbard has been a key member of the Board and has provided invaluable stability, guidance and leadership over his tenure. Since his appointment as a director of the Company the market capitalisation of Allkem has increased from ~A$180 million to over A$10 billion recently. Together with Martin Rowley, as Chairman of Galaxy, Rob was pivotal to the transformational merger which created Allkem, a business which now has an envied global portfolio of production and development assets.

“I am proud to have been involved in the Allkem journey over my ten years on the Board. The last decade has seen many years of growth and wealth creation for our shareholders. It has given me great pleasure to be involved in a company that has not only provided a material increase in shareholder value but also embraced sustainability as a keystone of its strategy and shared value for all stakeholders. Building a company with the global ambitions of Allkem is a relay not a marathon and I am confident we are in the best of hands with my Board colleagues and Martin Perez de Solay’s leadership,” Mr Hubbard said.

Allkem Chairman Martin Rowley commented, “I would like to personally thank Rob for his contribution to the success of the Company over the decade he has been involved. When we first spoke in early 2021 both of us saw the huge potential of a merger of Orocobre and Galaxy but it took Rob’s guidance and diplomacy as Chair of Orocobre to ensure the successful outcome. Sitting on the Board of Allkem together we have developed a very strong relationship with Rob providing invaluable support to me and the Board in his role as Deputy Chair. I am proud to call him a friend and I wish him and his family the very best in his life after Allkem.”

CEO and Managing Director, Martin Perez de Solay said, “It has been a pleasure to work with Rob who has made a significant contribution to the Company across many areas of the Company.

“Rob has been a driving force in the development of sustainability practices and reporting and has been instrumental in the improvement of governance systems throughout the business. He leaves the company in a very strong position and well placed for the planned development and growth of its world class asset portfolio. I sincerely thank Rob for his astute guidance and enduring support and wish him well in his future endeavours.”

This release was authorised by Mr Martin Perez de Solay, CEO and Managing Director of Allkem Limited.

IMPORTANT NOTICES

This investor ASX/TSX release (Release) has been prepared by Allkem Limited (ACN 112 589 910) (the Company or Allkem). It contains general information about the Company as at the date of this Release. The information in this Release should not be considered to be comprehensive or to comprise all of the material which a shareholder or potential investor in the Company may require in order to determine whether to deal in Shares of Allkem. The information in this Release is of a general nature only and does not purport to be complete. It should be read in conjunction with the Company’s periodic and continuous disclosure announcements which are available at allkem.co and with the Australian Securities Exchange (ASX) announcements, which are available at www.asx.com.au.

This Release does not take into account the financial situation, investment objectives, tax situation or particular needs of any person and nothing contained in this Release constitutes investment, legal, tax, accounting or other advice, nor does it contain all the information which would be required in a disclosure document or prospectus prepared in accordance with the requirements of the Corporations Act 2001 (Cth) (Corporations Act). Readers or recipients of this Release should, before making any decisions in relation to their investment or potential investment in the Company, consider the appropriateness of the information having regard to their own individual investment objectives and financial situation and seek their own professional investment, legal, taxation and accounting advice appropriate to their particular circumstances.

This Release does not constitute or form part of any offer, invitation, solicitation or recommendation to acquire, purchase, subscribe for, sell or otherwise dispose of, or issue, any Shares or any other financial product. Further, this Release does not constitute financial product, investment advice (nor tax, accounting or legal advice) or recommendation, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision.

The distribution of this Release in other jurisdictions outside Australia may also be restricted by law and any restrictions should be observed. Any failure to comply with such restrictions may constitute a violation of applicable securities laws.

Past performance information given in this Release is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance.

Not for release or distribution in the United States

This announcement has been prepared for publication in Australia and may not be released to U.S. wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction, and neither this announcement or anything attached to this announcement shall form the basis of any contract or commitment. Any securities described in this announcement have not been, and will not be, registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States except in transactions registered under the U.S. Securities Act of 1933 or exempt from, or not subject to, the registration of the U.S. Securities Act of 1933 and applicable U.S. state securities laws.