Caracal Gold plc, announced that Mr. Simon Grant Rennick has been formally confirmed as Executive Chairman of the Company, and that since the announcement on 23 January 2023 appointing him 'Chairman Designate', substantial progress has been made on the review of the Company's corporate governance policies and procedures, with an update expected to be announced shortly. Following the completion of certain commercial and legal formalities, Simon Grant Rennick has been confirmed as Executive Chairman of Caracal Gold plc. Mr. Grant Rennick is a graduate of the Cambourne School of Mines.

His expertise encompasses not only mining and minerals but also metals, agriculture, and property. He has managed mining companies, both public and private, in Uganda, Malawi, Kenya, Mexico and Botswana; metal trading businesses in Bermuda and in the UK; was a co-founder of Industrial Mineral Finance House which provides consultancy services covering all aspects of the industrial minerals' sector; and established a property development business (since sold). The comprehensive review of the Company's corporate governance, regulatory compliance, and communications policies will be released shortly.

The review is considering the structure of the board, including the mix of executives and non-executives, as well as all corporate-governance related matters, practices, and policies with the objective of improving internal procedures.