Board Update

Kenmare Resources plc (“Kenmare” or “the Company”)

17 March 2021

Board Update

Kenmare Resources plc (LSE:KMR, ISE:KMR), one of the leading global producers of titanium minerals and zircon, which operates the Moma Titanium Minerals Mine in northern Mozambique, announces the following update regarding the Group's Board.

Gabriel Smith has decided not to stand for re-election as a Non-Executive Director at this year's AGM, following eight years of service on the Board. Gabriel joined the Board in March 2013 and has served as Chairman of the Audit & Risk Committee and as a member of the Remuneration and Nomination Committees.

Deirdre Somers will replace Gabriel Smith as the Chair of the Audit & Risk Committee and become a member of the Remuneration Committee with effect from the conclusion of the AGM. The other members of the Audit & Risk Committee remain Peter Bacchus and Clever Fonseca. There are no other changes to the Board’s Committees.

Separately, Tim Keating, a Non-Executive Director of Kenmare Resources plc, has informed the Company that he will step down from the Company’s Board of Directors effective immediately. Tim was appointed as a Non-Executive Director of the Company on 14 October 2016, having been nominated by African Acquisition Sarl, Kenmare's largest shareholder and a company controlled by Oman Investment Authority (OIA). Tim has stepped down from his role at the OIA and therefore is stepping down from the Board.

Sameer Oundhakar has been nominated by African Acquisition Sarl and joins the Board immediately as a Non-Executive Director. Mr. Oundhakar joined OIA in 2018 and is a Senior Manager in the Diversified Private Equity Investments department of OIA. He has extensive Private Equity experience across industry sectors and geographies. Mr. Oundhakar has a Bachelor’s degree with distinction in Mechanical Engineering from VJTI Mumbai, a Post Graduate Diploma in Management from the Indian Institute of Management Lucknow and an MBA from INSEAD.

There are no other matters in respect of Mr. Oundhakar requiring disclosure under UK Listing Rules 9.6.13(1) to 9.6.13(6) inclusive.

Statement from Steven McTiernan, Chairman of Kenmare:

“I would like to sincerely thank Tim and Gabriel for their invaluable contributions to the Board during their respective tenures.

Gabriel’s significant industrial and financial experience, and effective stewardship as Chair of the Audit & Risk Committee, has been of huge importance to the progress and success of the Company.

Tim has had a critical impact on the success of Kenmare over the last four and a half years, beginning with his visionary support for the Company following the investment by the OIA in 2016. Subsequently, as a Non-Executive Director, Tim’s mining and corporate finance wisdom has been of immense importance in guiding the Company forward to its current level of success.

We wish them both well in their future endeavours.

We are delighted to welcome Sameer Oundhakar to the Board and we look forward to working with him and benefitting from his expertise and diverse experience.”

For further information, please contact:
    
Kenmare Resources plc
Jeremy Dibb
Investor Relations
[e-mail]
Tel: [phone]
Mob: + 353 87 943 0367

Murray (PR advisor)
Joe Heron
Tel: [phone]
Mob: [phone]

About Kenmare Resources

Kenmare Resources plc is one of the world’s largest producers of mineral sands products. Listed on the London Stock Exchange and the Euronext Dublin, Kenmare operates the Moma Titanium Minerals Mine in Mozambique. Moma’s production accounts for approximately 7% of global titanium feedstocks and the Company supplies to customers operating in more than 15 countries. Kenmare produces raw materials that are ultimately consumed in everyday “quality-of life” items such as paints, plastics and ceramic tiles.