Board changes and issue of equity

RNS Number : 8759P

Kazera Global PLC

22 October 2021

 

22 October 2021

Kazera Global Plc

("Kazera" or the "Company" )

Board changes and issue of equity

Kazera Global Plc ("Kazera Global", "Kazera" or "the Company"), the AIM quoted investment company, announces that Larry Johnson, Co-Chief Executive Officer has, following five years of dedicated service to the Company, elected to retire from his role with the Company and the Board, effective immediately.

During a transformational period for the Company, Larry's primary responsibility has been driving operations at the Company's Tantalite Mine in Namibia, where he has been based for over two years. Now, with the mine progressed through extremely encouraging exploration drilling, DJ Drilling, who have been operating at the Mine over the past six months, will take over day to day operations to progress the Mine through to cash flow. With DJ Drilling assuming operatorship, Larry, who originally instructed DJ Drilling to operate the Mine, has elected to retire from his role and return to the US, where he will focus on other ventures. 

Dennis Edmonds, Co-Chief Executive Officer of Kazera, will take over Larry's remaining responsibilities and become Chief Executive Officer.

Issuance of Equity

Further to the Company's announcement on 29 June 2020, regarding the issuance of 4,000,000 Ordinary Shares to Larry in lieu of compensation, 500,000 shares have, to date, been issued to him. The balance of 3,500,000 Ordinary Shares will now be issued.

Application has been made to the London Stock Exchange to admit 3,500,000 new Ordinary Shares to trading on AIM, Admission of the New Ordinary Shares is expected to occur on or around 27 October 2021 ("Admission"). The New Ordinary Shares will rank pari passu with the existing Ordinary Shares.

Following Admission, the issued share capital of the Company will be 754,453,942 Ordinary Shares and this figure may be used by shareholders as a denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in the Company under the Disclosure Guidance and Transparency Rules published by the UK Financial Conduct Authority. There are no Ordinary Shares held in treasury and each Ordinary Share entitled the holder to a single vote at general meetings of the Company. Therefore, the total number of voting rights in the Company will be 754,453,942.

Giles Clarke, Chairman, commented:

"I would like to thank Larry for all his hard work and dedication over the years in developing Kazera. During his tenure, Kazera has unearthed vast potential at our mine in Namibia; such that we are now close to starting production and realising the value of this highly significant tantalum and lithium mine.

"The Board wish Larry well with his future endeavours."

For further information on the Company, visit:  www. kazeraglobal .com

Kazera Global plc (c/o Camarco) Dennis Edmonds (CEO)	Tel: [phone]
finnCap (Nominated Adviser and Joint Broker) Christopher Raggett / Tim Harper (corporate finance)	Tel: [phone]
Camarco (PR) Gordon Poole / James Crothers / Hugo Liddy	Tel: [phone]

**ENDS**

About Kazera Global

Kazera Global is an investment company focused on opportunities principally, but not exclusively in the resources and energy sectors. The Company's first investment was in African Tantalum, a Namibian based operation of which it now owns 100%, followed in June 2020 by the acquisition of its South African diamond and mineral sands assets.

 

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