Wrap Text
Appointment of CEO
Kore Potash plc
(Incorporated in England and Wales)
Registration number 10933682
ASX share code: KP2
AIM share code: KP2
JSE share code:KP2
ISIN: GB00BYP2QJ94
(“Kore Potash” or the “Company”)
Appointment of CEO
Kore Potash, 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
30 May 2018
JSE Sponsor: Renaissance Capital
For further information, please visit www.korepotash.com or contact:
Kore Potash Tel: +27 11 469 9140
David Hathorn
Tavistock Communications Tel: +44 (0) 20 7920 3150
Jos Simson
Edward Lee
Canaccord Genuity – Nomad and Broker Tel: +44 (0) 20 7523 4600
Martin Davison
James Asensio
Renaissance Capital – JSE Sponsor Tel: +27 (11) 750 1448
Yvette Labuschagne
LON 577997520v2
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 bonus Eligible to receive a 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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