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
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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)
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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
|
Info@katorogold.com
|
Katoro Gold PLC
|
Executive Chairman
|
|
James Biddle
Roland Cornish
|
+44 207 628 3396
|
Beaumont Cornish Limited
|
Nominated Adviser
|
|
Nick Emmerson
Sam Lomanto
|
+44 148 341 3500
|
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.