REG - Kore Potash PLC - Management Change

Kore PotashAnnouncement

31/10/2023 08:45

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RNS Number : 8508R  Kore Potash PLC  31 October 2023

31 October 2023

 

Kore Potash Plc

("Kore Potash" or "the Company")

 

Management Change

 

Kore Potash (AIM: KP2, ASX: KP2, JSE:KP2), the potash development company with
97% ownership of the Kola and DX Potash Projects in the Sintoukola Basin,
located in the Republic of Congo, announces the resignation of Mr Brad
Sampson, the Company's Chief Executive Officer ("CEO").

 

Mr Sampson, who joined the Company as CEO in May 2018, has resigned as a
Director of the Company with immediate effect, and will continue as CEO until
the end of November 2023. He is leaving the Company in order to pursue his
other business interests.

 

The Company does not intend to appoint a new CEO until after the receipt of
the financing proposal for the construction of the Kola Potash Project. The
Chairman will assume the role of CEO in the interim.

 

Mr David Hathorn, the Chairman of Kore Potash said:

 

"The Board and Management team of Kore Potash would like to thank Brad for his
leadership and valuable contribution to the Company over the last 5 years. We
wish Brad every success in the future."

 

The process to reach agreement on Engineering, Procurement and Construction
contract terms, and to receive a financing proposal for the full construction
cost of the Kola Potash Project, is now near completion and is expected to be
finalised during the first quarter of 2024 with construction contractors
scheduled to be mobilised during the first half of 2024.

 

This announcement has been approved for release by the Board of Kore Potash.

 

Market Abuse Regulation

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, please visit www.korepotash.com
(http://www.korepotash.com) or contact:

 

 Kore Potash                                    Tel: +27 84 603 6238

 Brad Sampson - CEO
 Tavistock Communications                       Tel: +44 (0) 20 7920 3150

 Nick Elwes

 Adam Baynes
 SP Angel Corporate Finance - Nomad and Broker  Tel: +44 (0) 20 7470 0470

 Ewan Leggat

 Charlie Bouverat
 Shore Capital - Joint Broker                   Tel: +44 (0) 20 7408 4050

 Toby Gibbs

 James Thomas
 Questco Corporate Advisor - JSE Sponsor        Tel: +27 (11) 011 9205

 Doné Hattingh

 

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