New Chairman Appointment Confirmed

Katoro Gold PLC

29 February 2024

 

Katoro Gold plc (Incorporated in England and Wales)

(Registration Number: 9306219)

Share code on AIM: KAT

ISIN: GB00BSNBL022

('Katoro' or 'the Company')

Dated: 29 February 2024

Katoro Gold PLC ('Katoro' or the 'Company')

New Chairman Appointment Confirmed

Katoro Gold PLC (AIM:KAT), the strategic and precious minerals exploration and development company, announces the formal appointment of Sean Wade as Non-executive Chairman of the Company with immediate effect.

This follows the Company's previous announcement proposing Mr Wade's appointment on 15 February 2024 and the satisfactory completion of stock market (including Nominated Adviser) due diligence.

FURTHER INFORMATION

As outlined in the Company's "Financing, Business Developments and Director Changes" announcement of 12 February 2024, two new directors are to be appointed to the Board of the Company.  Mr Wade is the first as Non-executive Chairman and a second director is expected to be follow in the role of Chief Executive Officer.

With the appointment of Mr Wade as Non-executive Chairman, Louis Coetzee, former Chairman, will remain as Executive Director and will then step down from the Board and employment with the Company simultaneously with the appointment of the second director.  Mr Coetzee will then become a consultant to Katoro until 31 July 2024 to assist with the transition of responsibilities.

Sean Wade, Non-executive Chairman of Katoro Gold plc commented:

"I am very pleased to be formally appointed as Non-executive Chairman and will work hard with the Katoro team and our advisers to move the Company forward at some pace.

The significant financing announced earlier this month raising £825,000 before expenses has provided the Company with a robust financial position to move the business forward and I look forward to Katoro announcing further developments as soon as possible."

REGULATORY DISCLOSURES

The following information is disclosed pursuant to Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies in relation to Sean Edward Wade, aged 53:

Current directorships and/or partnerships:	Former directorships and/or partnerships (within the last five years):
Power Metal Resources PLC Teathers Financial PLC        Uranium Energy Exploration Limited 102156730 Saskatchewan Limited Red Rock Australasia Pty Limited Power Arabia Limited (formerly Power Capital Investments Limited) Ion Battery Resources Limited African Battery Metals Limited Keysford Limited S&K Wade Properties Limited	Scout IR Limited Scout Advisory Limited

Mr Wade does not hold any shares in Katoro Gold plc.

Mr Wade has confirmed there is no further information to be disclosed pursuant to paragraph (g) of Schedule 2 of the AIM rules.

As part of Mr Wade's employment contract as Non-executive Chairman, he is to be issued with Katoro Gold share options, namely, 25 million options to subscribe for new Katoro Gold ordinary shares of 0.1p each at an exercise price of 0.2p pence with a life to expiry of 3 years from today's date (the "Director Options").

The Director Options are subject to a minimum service period of 6 months.

PDMR DISCLOSURE

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail on the director's option award.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Sean Edward Wade
2	Reason for the notification
a)	Position/status	Non-executive Chairman
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Katoro Gold Plc
b)	LEI	213800Q9L29ZXI53T558
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	ordinary shares of 1p each
	Identification code	ISIN: GB00BSNBL022
b)	Nature of the transaction	Issue of Options
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			0.2p Exercise Price	25,000,000
d)	Aggregated information
	- Aggregated volume	25,000,000
	- Price	0.2p
e)	Date of the transaction	29 February 2024
f)	Place of the transaction	Off Market

This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014.

**ENDS**

For further information please visit www.katorogold.com or contact:

Louis Coetzee	[e-mail]	Katoro Gold PLC	Executive Chairman
James Biddle Roland Cornish	[phone]	Beaumont Cornish Limited	Nominated Adviser
Nick Emmerson Sam Lomanto	[phone]	SI Capital Ltd	Broker

Beaumont Cornish Limited ('Beaumont Cornish') is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

 

END