CEO Resignation

RNS Number : 1218E

Kropz PLC

26 February 2020

 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

26 February 2020

Kropz Plc

("Kropz" or the "Company")

CEO Resignation

Kropz Plc (AIM: KRPZ), an emerging African phosphate explorer and developer, announces that Mr Ian Harebottle has resigned as its Chief Executive Officer ("CEO") and director, with effect from 29 February 2020.

As a result of Mr Ian Harebottle's resignation, the Board has appointed Mr Mark Summers, currently the Company's Chief Financial Officer, as its interim CEO.

Mr Harebottle's contract of employment with the Company allows for a three-month notice period, which will be used to ensure a smooth transition period. The Company intends to initiate a review of its senior management requirements in due course.

Lord Robin Renwick, Chairman, commented:  

"I and the Board have been extremely grateful for the contribution Ian has made as CEO of Kropz Plc. He kindly undertook not to leave until the Company had made progress towards a solution for Elandsfontein which, with thanks to the support of African Rainbow Capital, is now the case. We wish him well in his future endeavours."

Ian Harebottle commented:

"It has been a privilege to lead Kropz since its IPO, during what has been a challenging period for our industry and the Company. Importantly at Elandsfontein we now have a clear pathway to production, supported by a comprehensive funding solution that is at an advanced stage of negotiation. Significant progress has also been achieved at Hinda and for these reasons I believe it is the right time for me to hand over the reins and pursue other challenges. I would like to thank the Board, management team and shareholders for all their support and I wish them every success for the future. "

For further information visit www.kropz.com or contact:

Kropz Plc
Mark Summers (interim-CEO)	[phone]
Grant Thornton UK LLP	Nominated Adviser
Richard Tonthat Samantha Harrison Niall McDonald	[phone]
Hannam & Partners	Joint Broker
Andrew Chubb Ernest Bell	[phone]
Mirabaud Securities Ltd	Joint Broker
Rory Scott Edward Haig-Thomas	[phone] [phone]
Tavistock	Financial PR & IR (UK)
Emily Moss Jos Simson Oliver Lamb	[phone] [e-mail]
R&A Strategic Communications	PR (South Africa)
James Duncan	[phone] [e-mail]

About Kropz Plc

Kropz is an emerging African phosphate explorer and developer, with an advanced stage phosphate mining project in South Africa and a phosphate project in the Republic of Congo. The vision of the Group is to become a leading independent phosphate rock producer and to develop into an integrated, mine-to-market plant nutrient company focusing on sub-Saharan Africa.

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