BIND.zw | Board Changes Announcement

Published: 05 July 2017

Due to changes to the Board of Directors and Executive Management structures of Asa Resource Group Plc ("Asa"), the main shareholder of Bindura Nickel Corporation Limited ("BNC" or "the Company"), the following changes to the Board of Directors of the Company are hereby announced, taking effect from 28 April 2017:

Mr Yim Chiu Kwan is removed as Chairman of the BNC Board of Directors.

Mr Muchadeyi ("Much") Ashton Masunda (65), a long serving member of the BNC Board, is appointed Non-Executive Chairman

Mr David Edgar Hoover Murangari steps down as Deputy Chairman and Non-Executive Director of BNC, to allow him to focus on his new appointment as Non-Executive Chairman of Asa.

Mr Batirai Manhando (48) continues as Managing Director.

Mr Johannes Hendrikus Lambertus ("Jan") Lampen (54) continues in the position of Finance Director

AUDIT COMMITTEE CHANGES
Mr Olivier Alain Barbeau (43) who is a Non-Executive Director, will continue to serve in his additional role as Chairman of the Audit Committee. Mr Masunda relinquishes his role as a member of the Audit Committee. An appointment to replace him will be announced in due course. Mr Yim Kwan is removed as a member of the Audit Committee. An appointment to replace him will be announced in due course.

REMUNERATION COMMITTEE CHANGES
Mr Masunda will continue to serve as Chairman of the Remuneration Committee. Mr Yim Kwan is removed as a member of the Remuneration Committee. An appointment to replace him will be announced in due course.

SAFETY, HEALTH, ENVIRONMENT, QUALITY AND CORPORATE SOCIAL RESPONSIBILITY ("SHEQ & CSR") COMMITTEE CHANGES
Mr Oliver Mandishona Chidawu (63) Non-Executive Director, will continue to serve as Chairman of the SHEQ & CSR Committee. Upon his resignation from the Board as Non-Executive Director and Deputy Chairman, Mr David Murangari steps down from his role as a member of the SHEQ & CSR Committee. An appointment to replace him will be announced in due course.

COMPANY SECRETARY
Mr Conrad Fungai Mukanganga (58) who until his retrenchment in January 2017 was the Company Secretary, is reinstated in the same position. He also now assumes additional responsibilities at the Asa Resource Group Plc level as Assistant Group Company Secretary.

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