26 June 2024
Kazera
Global plc
("Kazera" or "the Company")
Board
Changes
Kazera Global plc (AIM: KZG), the
AIM-quoted investment company, announces that Gerard Kisbey-Green
is stepping down from his role as Non-Executive Chairman of the
Company to pursue other interests. His resignation becomes
effective on 25 September 2024 when it is intended that Dennis
Edmonds, Chief Executive Officer of Kazera, will assume the role of
Chairman alongside his current role.
Dennis Edmonds, CEO of Kazera Global
plc, said: "On behalf of the Kazera
board, I extend our thanks to Gerard for his dedication to the
Company since his appointment as Non-Executive Chairman in 2022;
his leadership and expertise have been invaluable during his
tenure, guiding us through significant milestones and challenges.
As Gerard embarks on his new venture, we wish him every
success."
Gerard Kisbey-Green commented: "With Kazera's Diamond and
Heavy Mineral Sands operations on the verge of generating
cashflows, I had hoped to continue in this role for some time
longer. Sadly, other personal interests have become increasingly
time consuming, and I feel that it is right that I now step aside
as Chairman of Kazera. I would like to thank the Kazera team for
its help and support over the past two years and look forward to
following the Company's success going
forward."
**ENDS**
|
Kazera
Global plc
Dennis Edmonds, CEO
|
kazera@stbridespartners.co.uk
|
|
Cavendish Capital Markets
Ltd (Nominated Adviser and Broker)
Derrick Lee / Pearl
Kellie (Corporate Finance)
|
Tel: +44 (0)207
220 0500
|
|
St Brides Partners (Financial
PR)
Paul Dulieu / Isabel de Salis
|
kazera@stbridespartners.co.uk
|
About Kazera Global plc
Kazera is a global investment
company focused on leveraging the skills and expertise of its Board
of Directors to develop early-stage mineral exploration and
development assets towards meaningful cashflow and production. Its
three principal investments are as follows:
Alluvial diamond mining through Deep
Blue Minerals (Pty) Ltd, Alexander Bay, South Africa
Kazera currently has a 90% direct
interest in Deep Blue Minerals, of which 64% is held beneficially
by Kazera and 26% is held on behalf of Black Economic Empowerment
partners.
Heavy Mineral Sands mining
(including ilmenite, monazite, rutile, and zircon) through
Whale Head Minerals (Pty) Ltd, Alexander Bay, South
Africa.
Kazera currently has a 60% direct
beneficial interest in Whale Head Minerals.
Tantalite mining in South-East
Namibia (divestment in progress)
As announced on 20 December 2022,
Kazera has agreed to dispose of African Tantalum (Pty) Ltd
("Aftan") for a cash
consideration of US$13 million plus a debenture payment of 2.5% of
the gross sales of produced lithium and tantalum for life-of-mine.
Completion of the sale is subject to receipt of full consideration
proceeds. Aftan has been deconsolidated from the Company's
financial statements with effect from 4 January 2023 because in
accordance with the terms of the sale agreement, it has
relinquished control of the Aftan in favour of the purchaser, Hebei
Xinjian Construction Close Corp ("Hebei Xinjian") with effect from that
date. Kazera retains the right to cancel the transaction and retain
all amounts paid to date in the event of default by Hebei
Xinjian.
The Company will consider additional
investment opportunities as appropriate, having regard to the
Group's future cash flow requirements.