Kore Potash PLC Appointment of CEO (5754P)
May 30 2018 - 2:01AM
UK Regulatory
TIDMKP2
RNS Number : 5754P
Kore Potash PLC
30 May 2018
30 May 2018
Kore Potash plc
("Kore Potash" or the "Company")
Appointment of CEO
Kore Potash plc, the potash development company whose flagship
asset is the 97%-owned Sintoukola Potash Project ("Kola" or the
"Project"), is pleased to announce the appointment of Mr Stuart
Bradley ("Brad") Sampson, aged 52, as Chief Executive Officer
("CEO") and director, effective from 4 June 2018.
Brad, a mining engineer, has more than 25 years' resources
industry experience across numerous locations including West and
Southern Africa. In addition to significant mine development and
operating experience, Brad has held leadership positions at several
publicly listed companies.
Brad was most recently CEO of Australian Securities Exchange
("ASX") listed Tiger Resources Limited, a copper producer in the
Democratic Republic of the Congo which in January 2018 entered into
a binding agreement to sell its assets to a Chinese group for
US$250m. Prior to this, Brad held senior positions at Newcrest
Mining Ltd, one of the world's largest gold mining companies,
including General Manager of Newcrest's West African operations.
From 2008 to 2013, Brad was the CEO of AIM/ASX listed Discovery
Metals Ltd, where he was hired to lead the project financing,
construction and subsequent production of the Company's flagship
copper asset in Botswana. Other notable positions include General
Manager at Goldfields' operations in South Africa and
Australia.
The outgoing CEO, Sean Bennett, will step down on 4 June 2018.
As disclosed in the Company's recent AIM admission document, Sean
will remain available to the Company to support the financing
developments.
David Hathorn, Non-executive Chairman, said: "I am very pleased
to announce the appointment of Brad Sampson as the new CEO. He is a
highly experienced mining engineer and CEO who has spent over a
decade of his career building and managing projects on the African
continent. His appointment reflects the next chapter for Kore
Potash as we approach the financing and project construction
stages.
On behalf of the board, I would like to thank Sean for his
significant contribution and, in particular, for his role in
raising the capital required for the Definitive Feasibility Study,
and in leading the Company in its redomicile and listings on AIM
and the JSE. Sean joined in 2015 and leaves the business in a very
strong position to deliver the Sintoukola Potash Project."
There is no other information that is required to be disclosed
pursuant to paragraph (g) of Schedule Two to the AIM Rules for
Companies.
Stuart Bradley Sampson
Current Directorships Previous Directorships
Chairman - Agrimin Ltd (AMN:ASX) Managing Director - Tiger
Resources (TGS:ASX)
Managing Director - Discovery Metals (DML: AIM/ASX)
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
ENDS
For further information, please visit www.korepotash.com or
contact:
Kore Potash Tel: +27 11 469
David Hathorn 9140
Tavistock Communications Tel: +44 (0) 20
Jos Simson 7920 3150
Edward Lee
Canaccord Genuity - Nomad Tel: +44 (0) 20
and Broker 7523 4600
Martin Davison
James Asensio
Mr Bradley Sampson
Key Terms and Conditions of Employment
Commencement Date Effective from 4 June
2018
Term Appointment on an on-going
basis subject to termination
by either party (see termination
and notice below)
Fixed remuneration US$550,000 inclusive of
any director fees and
compulsory contributions,
subject to annual review
by the Remuneration Committee,
the first such review
to take place in the first
calendar quarter of each
year
Incentive Arrangements
Project Financing Completion Eligible to receive a
bonus cash bonus of US$550,000
upon securing project
financing for the Kola
Project ("Project Financing
Completion")
Annual Bonus Following Project Financing
Completion, eligible to
receive an annual bonus
of up to 100% of salary
as determined by the Board
Long Term Bonus Eligible to receive 17,200,000
Options under the Directors
and Executives 2018 Share
Option Plan which will
vest upon certain milestones
being achieved in relation
to the Kola Project
Termination and Notice Termination by either
party can be made with
6 months' notice (or payment
in lieu), other than where
employment is terminated
for gross misconduct or
other material breach,
in which case the Company
may terminate with no
notice period.
Post-employment Restrictions Restricted from competing
with the business for
a period of six months
and soliciting personnel,
customers, prospective
customers and suppliers
for a period of 12 months
post-termination (less
any period of garden leave)
============================= ==================================
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END
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