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(Registration Number: 9306219)
Share code on AIM: KAT
ISIN: GB00BSNBL022
("Katoro" or "the Company")
15 March 2023
Katoro Gold plc ('Katoro' or the 'Company')
Result of General Meeting
Katoro Gold PLC (AIM: KAT), the AIM listed gold and nickel exploration and development company, is pleased to announce that it held its general meeting (the "General Meeting" or "GM") today and all resolutions were duly passed by the required majority by means of a poll vote.
The results of the poll votes on the resolutions are shown in the table below:
| Resolution | For | Against | Withheld | Total votes cast | ||
| | No. of votes | % | No. of votes | % |
|
|
| 1. Ordinary Resolution - to approve subdivision of share capital | 100,315,096 | 79.30 | 26,181,205 | 20.70 | 157,040 | 126,496,301 |
| 2. Special Resolution - to amend Articles of Association | 100,337,865 | 79.32 | 26,166,205 | 20.68 | 149,271 | 126,504,070 |
| 3. Ordinary Resolution - to authorise the Directors to allot shares | 124,696,926 | 98.57 | 1,807,144 | 1.43 | 149,271 | 126,504,070 |
| 4. Special Resolution - to authorise the Directors to disapply pre-emption rights | 124,696,926 | 98.57 | 1,807,144 | 1.43 | 149,271 | 126,504,070 |
Notes:
1. A 'Vote withheld' is not a vote in law and is not counted in the calculation of the proportion of the votes 'For' and 'Against' any resolution.
2. The Company's total ordinary shares in issue (total voting rights) as at the date of the GM was 460,412,593 ordinary shares of £0.01 each. Ordinary shareholders are entitled to one vote per ordinary share held.
3. Resolutions 2 and 4 were passed as special resolutions.
Statement regarding GM voting results
The Board notes that both Resolution 1 and 2 received more than 20% of votes against each resolution.
The Board believes that the proposed subdivision of share capital will provide the Company with more flexibility regarding its future funding options and improve trading liquidity in a very challenging market. Nonetheless, the Board notes the concerns raised by some shareholders and will reflect on feedback received, whilst maintaining focus on alignment with the best interests of shareholders and also with the Company's growth ambitions and strategy to capture market share over the long term.
Admission to AIM
Application has been made for the Admission of the Ordinary Shares of £0.001 each resulting from the subdivision (the "New Ordinary Shares"), with such Admission expected to become effective on or around 16 March 2023. Following Admission, the share capital of the Company will comprise 460,412,593 New Ordinary Shares of £0.001 each.
Each New Ordinary Share has one voting right. No New Ordinary Shares are held in treasury. Accordingly, the total number of voting rights will be 460,412,593 and this figure may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, Katoro under the FCA's Disclosure Guidance and Transparency Rules.
**ENDS**
For further information please visit www.katorogold.com or contact:
| Louis Coetzee
| Katoro Gold plc | Executive Chairman | |
| James Biddle Felicity Geidt | +44 (0)207 628 3396 | Beaumont Cornish Limited | NOMAD on AIM |
| Nick Emmerson Sam Lomanto
| +44 (0) 1483 413 500
| SI Capital Ltd
| Broker
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| Zainab Slemang van Rijmenant | Lifa Communications | Investor and Media Relations Adviser |
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