REG - Caracal Gold PLC - Appointment of Financial Controller

Caracal GoldAnnouncement

28/07/2025 12:00

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RNS Number : 8281S  Caracal Gold PLC  28 July 2025

Caracal Gold plc / LSE: GCAT / Market: Main Market of the London Stock
Exchange

 

Caracal Gold Plc

('Caracal' or the 'Company')

Appointment of Financial Controller

Caracal, the East African focused gold company, is pleased to announce the
appointment of Ms. Esther Ndeto as Financial Controller, effective
immediately.

Ms Ndeto is based in Kenya and brings over 15 years of regional financial
leadership experience across East and Southern Africa. She has a strong track
record in International Financial Reporting Standards ("IFRS") reporting,
financial planning and analysis, regulatory compliance, capital optimisation,
and stakeholder engagement. She is a Certified Public Accountant (CPA-K) and
holds an MBA in Fintech and Blockchain, positioning her at the aligned
intersection of finance and business growth.

Ms Ndeto's experience spans financial services, infrastructure, and capital
markets, where she has successfully led multi-market teams, managed complex
budgets, driven performance improvement, and implemented financial systems
aligned with international standards. She has also overseen strategic capital
raising and deployment, shaped and executed dynamic financial frameworks,
secured multi-million-dollar funding instruments and strengthened risk and
treasury controls.

She has previously served at Imfact Working Capital Solutions, the Kenya
Pooled Water Fund, Alios Finance, and Grain Bulk Handlers Ltd., demonstrating
deep sectoral versatility and governance acumen.

Her appointment significantly strengthens Caracal's financial management
capabilities as the Company continues to scale operations at the Kilimapesa
Gold Mine and pursue regional expansion.

As Financial Controller, Esther will report directly to the Board of Directors
and will oversee the Group's financial operations across corporate and
operational entities. Her core responsibilities include:

·      Leading long-term financial strategy and performance planning in
alignment with corporate objectives

·      Overseeing financial reporting, budgeting, compliance, and
internal audits

·      Ensuring regulatory compliance with IFRS, tax laws, and statutory
obligations

·      Driving financial systems improvement and reporting automation

·      Managing treasury functions, liquidity, and funding strategies

·      Supporting the Company's annual audit and internal control
framework

·      Developing the finance team's capacity through leadership and
training initiatives

Esther's appointment comes at a critical time as Caracal continues to enhance
its financial structure, systems, and audit readiness in preparation for
further operational growth and stakeholder reporting in 2025 and beyond.

Jason Brewer, Executive Director, Caracal Gold Plc said:

"Esther's appointment is an important addition to our leadership team and
underscores our commitment to strong financial governance. Her wide-ranging
experience and proven leadership in finance will support our efforts to build
a scalable finance function that aligns with our operational and strategic
goals.

 She has consistently delivered enhanced financial transparency, strengthened
internal controls, and enabled robust capital allocation strategies for
sustainable business growth, and we are confident that she will bring the same
level of focus and expertise to Caracal as we continue with operations and
expand across the region."

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and is disclosed
in accordance with the Company's obligations under Article 17 of MAR.

* * ENDS * *

For further information visit www.caracalgold.com or contact the following:

 Caracal Gold plc

 Jason Brewer            jason@gathonimuchaiinvestments.com

 Shareholder Enquiries   info@gathonimuchaiinvestments.com

 

Notes:

Caracal Gold plc is an expanding East African focused gold company with a
clear strategy to grow production and resources both organically and through
strategic acquisitions. Its immediate aim is to recommence and rapidly
increase production to +50,000ozs p.a. and build a JORC compliant resource
base of +3Moz. The Company is progressing a well-defined mine optimisation
strategy at its 100% owned Kilimapesa Gold Mine in Kenya, where there is
significant mid-term expansion potential and the ability to increase gold
production to 24,000oz p.a. and the resource to +2Moz (current JORC compliant
resources of approx. 706,000oz). Alongside this, Caracal is undertaking a
targeted exploration programme at the Nyakafuru Project in Tanzania, which has
an established high-grade shallow gold resource of 658,751oz at 2.08g/t
contained within four deposits over 280 km2 and appears amenable to
development as a large scale conventional open pit operation.

Caracal's experienced team has a proven track record in successfully
developing and operating mining projects throughout Africa.

The Company is a responsible mining and exploration company and supports the
positive social and economic change that it contributes to the communities in
the regions that it operates. It is a proudly East African-focused company: it
buys locally, employs locally, and protects the environment and its employees
and their families' health, safety, and wellbeing.

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