Katoro Gold plc (Incorporated in England and Wales)
(Registration Number:
9306219)
Share code on AIM: KAT
ISIN: GB00BSNBL022
('Katoro' or 'the Company')
Dated: 4 July 2024
Katoro Gold
PLC ('Katoro' or the 'Company')
Interim Chief Executive
Officer Appointment Confirmed
Katoro Gold plc (AIM:KAT), the
strategic and precious minerals exploration and development
company, announces, following completion of due diligence, the
confirmation of Mr Patrick Cullen as Interim Chief Executive
Officer on the Company's Board.
Mr Cullen is charged with
guiding and managing the Company through the next phase in its
development including:
§ To drive
forward the technical review as announced of the Haneti Project in
Tanzania and advancement of that project, held in joint venture
with Power Metal Resources plc (AIM:POW)
§ To extract
value from the Company's business interests and AIM listing for the
benefit of all shareholders
§ To rapidly
advance the review and potential acquisition, subject to AIM rules
and requirements, of new opportunities deemed potentially
transformational in the critical and precious metals exploration
and/or project development environment.
As outlined in the Company's
announcement on 28 June 2024, Mr Cullen has extensive geological,
geophysical and mining experience gained while working in the
junior resource exploration and major mining sectors. This
includes board and senior managerial experience at AIM, TSX and ASX
listed junior explorers.
Since the Company's financing
announced in February 2024, work has been undertaken to advance
existing interests including principally the Haneti project in
Tanzania, where a detailed technical review is underway. In
addition the Company has been working actively on a review of
additional new project opportunities. Mr Cullen will continue
to progress this work.
Sean Wade, Non-executive
Chairman of Katoro Gold plc commented:
"I
am pleased to confirm Patrick's appointment to the role of Interim
Chief Executive Officer. With this appointment we are now
able to push ahead at some pace with our plans for the business and
we are excited by the potential opportunities available at this
time."
Patrick Cullen, Interim Chief
Executive Officer of Katoro Gold plc commented:
"I
am excited to come on board at Katoro as part of the strategy to
revitalise the Company and I'm looking forward to working together
with Sean and the Board to accelerate the initiatives already
underway.
I
will be driving the Haneti technical review and optimising next
steps as well as advancing activities around new project
opportunities. I look forward to communicating updates to the
market at the earliest opportunity."
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 Patrick Brendan Cullen, aged
53:
|
Current directorships and/or
partnerships:
|
Former directorships and/or partnerships (within the last five
years):
|
|
None
|
Tertiary Minerals plc
Tertiary Gold Limited
Tertiary Minerals US Inc
Arkle Resources plc (prev. Connemara
Mining Company plc)
Oldcastle Zinc Limited
Arke Resources Ltd
|
Mr Cullen does not hold any shares
in Katoro Gold plc.
Mr Cullen 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 Cullen's employment
contract as Interim Chief Executive Officer he has been 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 six months.
PDMR Disclosure
The notifications below, made in
accordance with the requirements of the EU Market Abuse Regulation,
provide further detail on the director's share dealing.
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Patrick Cullen
|
|
2
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Reason for the notification
|
|
a)
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Position/status
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Interim Chief Executive
Officer
|
|
b)
|
Initial notification
/Amendment
|
Initial Notification
|
|
3
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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 0.1p
each
|
|
|
|
|
Identification code
|
ISIN: GB00BSNBL022
|
|
|
|
|
b)
|
Nature of the transaction
|
Issue of Share Options
|
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
|
|
|
0.2p
|
25,000,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
d)
|
Aggregated information
|
|
|
|
|
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- Aggregated volume
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25,000,000
|
|
|
|
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- Price
|
0.2 pence
|
|
|
|
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e)
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Date of the transaction
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2 July 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:
|
Patrick Cullen
|
Info@katorogold.com
|
Katoro Gold PLC
|
Interim Chief Executive
Officer
|
|
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.