REG - Kazera Global PLC - Board Changes

Kazera GlobalAnnouncement

26/06/2024 07:00

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RNS Number : 8605T  Kazera Global PLC  26 June 2024

26 June 2024

Kazera Global plc

("Kazera" or "the Company")

 

Board Changes

 

Kazera Global plc (AIM: KZG), the AIM-quoted investment company, announces
that Gerard Kisbey-Green is stepping down from his role as Non-Executive
Chairman of the Company to pursue other interests. His resignation becomes
effective on 25 September 2024 when it is intended that Dennis Edmonds, Chief
Executive Officer of Kazera, will assume the role of Chairman alongside his
current role.

 

Dennis Edmonds, CEO of Kazera Global plc, said: "On behalf of the Kazera
board, I extend our thanks to Gerard for his dedication to the Company since
his appointment as Non-Executive Chairman in 2022; his leadership and
expertise have been invaluable during his tenure, guiding us through
significant milestones and challenges. As Gerard embarks on his new venture,
we wish him every success."

 

Gerard Kisbey-Green commented: "With Kazera's Diamond and Heavy Mineral Sands
operations on the verge of generating cashflows, I had hoped to continue in
this role for some time longer. Sadly, other personal interests have become
increasingly time consuming, and I feel that it is right that I now step aside
as Chairman of Kazera. I would like to thank the Kazera team for its help and
support over the past two years and look forward to following the Company's
success going forward."

 

**ENDS**

 

 Kazera Global plc                                                 kazera@stbridespartners.co.uk (mailto:kazera@stbridespartners.co.uk)   

 Dennis Edmonds, CEO                                                 
 Cavendish Capital Markets Ltd (Nominated Adviser and Broker)      Tel: +44 (0)207 220 0500  

 Derrick Lee / Pearl Kellie (Corporate Finance)

   
 St Brides Partners (Financial PR)                                 kazera@stbridespartners.co.uk (mailto:kazera@stbridespartners.co.uk)   

 Paul Dulieu / Isabel de Salis                                       

 

About Kazera Global plc

Kazera is a global investment company focused on leveraging the skills and
expertise of its Board of Directors to develop early-stage mineral exploration
and development assets towards meaningful cashflow and production. Its three
principal investments are as follows:

 

Alluvial diamond mining through Deep Blue Minerals (Pty) Ltd, Alexander Bay,
South Africa

Kazera currently has a 90% direct interest in Deep Blue Minerals, of which 64%
is held beneficially by Kazera and 26% is held on behalf of Black Economic
Empowerment partners.

 

Heavy Mineral Sands mining (including ilmenite, monazite, rutile, and
zircon)  through Whale Head Minerals (Pty) Ltd, Alexander Bay, South Africa.

Kazera currently has a 60% direct beneficial interest in Whale Head Minerals.

 

Tantalite mining in South-East Namibia (divestment in progress)

As announced on 20 December 2022, Kazera has agreed to dispose of African
Tantalum (Pty) Ltd ("Aftan") for a cash consideration of US$13 million plus a
debenture payment of 2.5% of the gross sales of produced lithium and tantalum
for life-of-mine. Completion of the sale is subject to receipt of full
consideration proceeds. Aftan has been deconsolidated from the Company's
financial statements with effect from 4 January 2023 because in accordance
with the terms of the sale agreement, it has relinquished control of the Aftan
in favour of the purchaser, Hebei Xinjian Construction Close Corp ("Hebei
Xinjian") with effect from that date. Kazera retains the right to cancel the
transaction and retain all amounts paid to date in the event of default by
Hebei Xinjian.

 

The Company will consider additional investment opportunities as appropriate,
having regard to the Group's future cash flow requirements.

 

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