REG - Kavango Resources - Board and Management Changes

Kavango ResourcesAnnouncement

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RNS Number : 1344G  Kavango Resources PLC  29 May 2026

PRESS RELEASE

29 May 2026

KAVANGO RESOURCES PLC

("Kavango" or "the Company")

Board and Management Changes

Kavango Resources plc (LSE:KAV, VFEX:KAV.VX), the Southern Africa-focused
metals exploration and gold production company, announces a planned transition
of its Board of Directors (the "Board") and senior management team, as the
Company continues to strengthen its leadership structure ahead of its next
phase of development.

Mr. Peter Wynter Bee, currently Interim Chief Executive Officer and
Non-Executive Chairman, has indicated his intention to step down from the
Board with effect from 1 July 2026. Donald McAlister, currently Executive
Interim Finance Director, will assume the role of Non-Executive Chairman and
Interim Chief Executive Officer from the same date, providing continuity while
the Company continues its search for a permanent Chief Executive Officer.

The Board is also pleased to announce the appointment of Mr. Thamsanqa Mpofu
("Tham") as Non-Executive Director, with effect from 1 July 2026. Tham is
currently Chairman of Kavango Zimbabwe Holdings (Private) Limited and Kavango
Mining (Private) Limited.

Additionally, the Company is pleased to announce the appointment of Mr. Lorenz
Werndle as Chief Financial Officer and Executive Director, with effect from 20
July 2026.

The Company's search for a permanent Chief Executive Officer is ongoing, and
the Board will provide further updates as appropriate.

Peter Wynter Bee, Interim Chief Executive Officer and Non-Executive Chairman
of Kavango, commented:

"It has been a privilege to serve as Chairman of Kavango during a period in
which the Company has made considerable progress. Kavango is now a more mature
business, with active operations in Zimbabwe and a growing platform from which
to pursue its development strategy.

"I believe this is the right time for the Company to move forward with a
strengthened leadership structure. Donald brings extensive mining and finance
experience, as well as a strong understanding of Zimbabwe, and I am confident
he will provide continuity and senior oversight as Chairman, while also
supporting the business as Interim Chief Executive Officer during this
transition.

"I am also pleased to welcome Tham and Lorenz to the Board. Their combined
experience in Zimbabwe, finance, and corporate development will be highly
relevant as Kavango continues to develop and unlock the full value of its
asset portfolio."

 

Donald McAlister, Executive Interim Finance Director of Kavango, commented:

"On behalf of the Board, I would like to thank Peter for his leadership and
commitment to Kavango. He has made a significant contribution to the Company
during an important period of development, particularly as we have expanded
our activities in Zimbabwe and advanced our gold production strategy. Kavango
is entering an important phase, and the planned changes announced today are
designed to strengthen the Company's leadership structure as we continue to
build the business.

"I am pleased to welcome Tham to the Board. His deep knowledge of Zimbabwe and
extensive commercial experience will be invaluable as we continue to advance
our operations in the country.

"We also look forward to welcoming Lorenz as Chief Financial Officer. His
experience across capital markets, corporate development, M&A, and
listed-company finance will be highly relevant as Kavango continues to develop
its asset base.

"Alongside the ongoing CEO search, these appointments reflect our focus on
building a strong, experienced and capable team to support Kavango's next
phase of growth."

 

About Thamsanqa Mpofu

Thamsanqa Mpofu is currently Chairman of Kavango Zimbabwe Holdings (Private)
Limited and Kavango Mining (Private) Limited.

During his extensive commercial and executive career spanning 38 years, Tham
has held senior positions in various local and international companies,
including the 3M Company in Zimbabwe, BHP Minerals Zimbabwe Limited, Meikles
Hospitality, and ZB Financial Holdings Limited, where he served as Chairman.

A graduate of Teesside and Manchester Universities in the UK, brings
considerable local and international commercial experience, as well as
in-depth knowledge of Zimbabwe's business and economic environment.

 

About Lorenz Werndle

Lorenz Werndle is a seasoned finance executive with experience spanning
mining, strategy, corporate development, and M&A across Africa and
international capital markets. Lorenz brings deep experience across
listed-company finance, fundraising, balance sheet restructuring, treasury
management, financial planning and analysis, and regulatory compliance across
AIM and Nasdaq environments.

His most recent experience includes serving as Chief Financial Officer of Blue
Gold, a Nasdaq-listed company, where he helped lead Blue Gold's reverse
takeover, Nasdaq listing and initial funding platform.

Lorenz was previously Head of Corporate Development at Mwana Africa Plc, where
he supported funding, restructuring, and turnaround initiatives across the
group's African subsidiaries. He also served as Head of Business Development
at Lonrho Plc.

Earlier in his career, Lorenz advised mining companies on IPOs, fundraisings,
and M&A transactions as a corporate finance professional at Ambrian Plc,
and on corporate expansion strategies while at Accenture.

Ends

 

Further information in respect of the Company and its business interests is
provided on the Company's website at www.kavangoresources.com
(http://www.kavangoresources.com/)  and on X at @KavangoRes.

For further information, please contact:

Kavango
Resources plc

Peter Wynter Bee

+44 (0) 797 381 8125

Shard Capital (Broker)

Damon Heath/Isabella Pierre

+44 204 530 6926

Inter-Horizon Group

(Sponsoring  Broker - Zimbabwe)

Lloyd Mlotshwa

lmlotshwa@ih-group.com

BlytheRay (Financial PR)

Megan Ray/Said Izagaren

kavango@blytheray.com (mailto:kavango@blytheray.com)

Tel: +44 207 138 3204

 

 

 

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