REG - Katoro Gold PLC - New Chairman Appointment Confirmed

Katoro GoldAnnouncement

29/02/2024 07:15

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RNS Number : 8711E  Katoro Gold PLC  29 February 2024

Katoro Gold plc (Incorporated in England and Wales)

(Registration Number: 9306219)

Share code on AIM: KAT

ISIN: GB00BSNBL022

('Katoro' or 'the Company')

 

 

Dated: 29 February 2024

 

 

 

Katoro Gold PLC ('Katoro' or the 'Company')

 

New Chairman Appointment Confirmed

 

Katoro Gold PLC (AIM:KAT), the strategic and precious minerals exploration
and development company, announces the formal appointment of Sean Wade as
Non-executive Chairman of the Company with immediate effect.

This follows the Company's previous announcement proposing Mr Wade's
appointment on 15 February 2024 and the satisfactory completion of stock
market (including Nominated Adviser) due diligence.

FURTHER INFORMATION

As outlined in the Company's "Financing, Business Developments and Director
Changes" announcement of 12 February 2024, two new directors are to be
appointed to the Board of the Company.  Mr Wade is the first as Non-executive
Chairman and a second director is expected to be follow in the role of Chief
Executive Officer.

With the appointment of Mr Wade as Non-executive Chairman, Louis Coetzee,
former Chairman, will remain as Executive Director and will then step down
from the Board and employment with the Company simultaneously with the
appointment of the second director.  Mr Coetzee will then become a consultant
to Katoro until 31 July 2024 to assist with the transition of
responsibilities.

 

Sean Wade, Non-executive Chairman of Katoro Gold plc commented:

"I am very pleased to be formally appointed as Non-executive Chairman and will
work hard with the Katoro team and our advisers to move the Company forward at
some pace.

The significant financing announced earlier this month raising £825,000
before expenses has provided the Company with a robust financial position to
move the business forward and I look forward to Katoro announcing further
developments as soon as possible."

 

REGULATORY DISCLOSURES

The following information is disclosed pursuant to Rule 17 and Schedule Two
paragraph (g) of the AIM Rules for Companies in relation to Sean Edward Wade,
aged 53:

 

 

 

 

  Current directorships and/or partnerships:                         Former directorships and/or partnerships (within the last five years):

 Power Metal Resources PLC                                           Scout IR Limited

 Teathers Financial PLC                                              Scout Advisory Limited

 Uranium Energy Exploration Limited

 102156730 Saskatchewan Limited

 Red Rock Australasia Pty Limited

 Power Arabia Limited (formerly Power Capital Investments Limited)

 Ion Battery Resources Limited

 African Battery Metals Limited

 Keysford Limited

 S&K Wade Properties Limited

 

Mr Wade does not hold any shares in Katoro Gold plc.

Mr Wade has confirmed there is no further information to be disclosed pursuant
to paragraph (g) of Schedule 2 of the AIM rules.

As part of Mr Wade's employment contract as Non-executive Chairman, he is to
be issued with Katoro Gold share options, namely, 25 million options to
subscribe for new Katoro Gold ordinary shares of 0.1p each at an exercise
price of 0.2p pence with a life to expiry of 3 years from today's date (the
"Director Options").

The Director Options are subject to a minimum service period of 6 months.

PDMR DISCLOSURE

The notification below, made in accordance with the requirements of the EU
Market Abuse Regulation, provide further detail on the director's option
award.

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name

                                                                   Sean Edward Wade

 2    Reason for the notification

 a)   Position/status

                                                                   Non-executive Chairman

 b)   Initial notification /Amendment

                                                                   Initial Notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name

                                                                   Katoro Gold Plc

 b)   LEI

                                                                   213800Q9L29ZXI53T558

 4    Details of the transaction(s): section to be repeated for (i) each type of

    instrument; (ii) each type of transaction; (iii) each date; and (iv) each
      place where transactions have been conducted

 a)   Description of the financial instrument, type of instrument  ordinary shares of 1p each

      Identification code                                          ISIN: GB00BSNBL022

 b)   Nature of the transaction

                                                                   Issue of Options

 c)   Price(s) and volume(s)

                                                                                     Price(s)             Volume(s)
                                                                                     0.2p Exercise Price  25,000,000

 d)   Aggregated information

      - Aggregated volume                                          25,000,000

      - Price                                                      0.2p

 e)   Date of the transaction                                      29 February 2024

 f)   Place of the transaction                                     Off Market

 

 

 

 

This announcement contains inside information as stipulated under the Market
Abuse Regulations (EU) no. 596/2014.

**ENDS**

 

 

For further information please visit www.katorogold.com
(http://www.katorogold.com) or contact:

 

 Louis Coetzee    Info@katorogold.com (mailto:Info@katorogold.com)  Katoro Gold PLC           Executive Chairman
 James Biddle     +44 207 628 3396                                  Beaumont Cornish Limited  Nominated Adviser

 Roland Cornish
 Nick Emmerson    +44 148 341 3500                                  SI Capital Ltd            Broker

 Sam Lomanto

 

Beaumont Cornish Limited ('Beaumont Cornish') is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

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