The Fort Cady Project. Source: American Pacific Borates
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  • American Pacific Borate (ABR) appoints a new non-executive director to its board as it gears up to list on the US Nasdaq exchange and rebrand as 5E Advanced Materials
  • Ms Palvi Mehta will join the 5E board as a director and will also be the chair of the company’s audit committee
  • She brings to the company over two decades of global financial experience and board and management positions for some major tech groups
  • Alongside Ms Mehta’s appointment to the 5E board, ABR is also shuffling around some other board positions as it gets ready for its new listing, currently slated for mid-February
  • Shares in American Pacific Borates are up 1.82 per cent at 3:23 pm AEDT to $2.8 each

American Pacific Borate (ABR) has appointed a new non-executive director to its board as it gears up to list on the US Nasdaq exchange and rebrand as 5E Advanced Materials.

Ms Palvi Mehta will join the 5E board as a director and will also be the chair of the company’s audit committee

The company this morning told investors it had received comments from the US Securities and Exchange Commission (SEC) and was busy reviewing these comments to submit amendments to its previous filing documents as it irons out the listing process.

As such, provided the timing of further SEC comments and the receipt of court approval for the listing goes according to plan, ABR will shift its primary listing to the Nasdaq on February 15, 2022.

The company will maintain a secondary listing on the ASX, meaning Australian investors can continue to trade the company’s shares on-market in the form of Chess Depositary Interests (CDIs).

Ms Mehta has over two decades of global finance experience, according to ABR, including capital funding, business strategy, mergers and acquisitions, and tax matters.

She has a mixture of Chief Financial Officer (CFO) and board experience in major tech groups including Aeluma, Pioneer Square Labs, and ExtraHop Networks.

Alongside Ms Mehta’s appointment to the 5E board, ABR is also shuffling around some other board positions as it gets ready for its new listing.

Anthony Hall, who is currently an executive director at ABR, will transition to the 5E advisory council, though he will continue to focus on Australian and Asian capital markets and investor relations.

Stephen Hunt will continue in his role as a non-executive director of ABR but will also be appointed to the 5E board as the chair of the compensation committee.

Meanwhile, Aaron Bertolatti, ABR’s existing company secretary who was initially slated to become a director of 5E, will no longer be made a member of the 5E board.

Once listed on the Nasdaq, 5E Advanced Materials will trade under the ticker code “FEAM”.

Shares in American Pacific Borates were up 1.82 per cent at 3:22 pm AEDT to $2.80 each. The company has a $1.17 billion market cap.

ABR by the numbers
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