Appointment of CEO

Kingsgate Consolidated Limited (ASX: KCN) wishes to advise of the appointment of Geoff Day as Chief Executive Officer (CEO). Mr Day was previously EGM Sustainability and External Affairs for Newcrest Mining Ltd. His role covered operational governance and corporate functions including external communications, government relations, health, safety, environment, risk, security, Corporate Social Responsibility and executive accountability for Newcrest’s joint venture businesses in Fiji and Papua New Guinea.

Mr Day will commence duties following completion of his contractual obligations at Newcrest during the current quarter.

Mr Day has a Masters degree in Applied Science (Chemistry) from Monash University and has spent the past 29 years involved in the mining industry working with various mining companies including Ok Tedi Mining Limited, Lihir Management Company, Rio Tinto, Kagara and Newcrest in a number of technical, managerial, operational leadership and executive positions.

Kingsgate Chairman, Ross Smyth-Kirk welcomed the appointment and said, “we are very pleased that Geoff is joining Kingsgate and bringing the requisite skills and background to assist Kingsgate to deliver the high performance outcomes we expect from our existing operations and progress the strong development opportunities in our asset portfolio.”

Mr Day said, “I am delighted to be joining the business and I look forward to working with the Kingsgate team to realise the full potential of the company’s asset base.”

A summary of the material terms of Geoff Day’s employment contract are included in Appendix 1.

Ross Smyth-Kirk
Chairman
Kingsgate Consolidated Limited

Appendix 1

A summary of the material terms of Geoff Day’s Employment Contract:

Commencement date

[To be confirmed]

Salary package

Total Fixed Remuneration (TFR)	$675,000 per annum
Short Term Incentive (See Note 1)	Maximum of 50% of TFR
Long Term Incentive (Performance Rights) (See Note 2)	50% of TFR

Termination Clauses

Notice by Company – period (See Note 3)	12 months
Notice by Executive – period (See Note 3)	3 months
Maximum Termination payment (See Note 4)	12 months of average annual base salary

Term

Not specified. On-going appointment.

Notes

1. Normally paid in cash following the achievement of performance targets set by the Board each year.
2. The granting of Performance Rights is subject to shareholder approval. The vesting of Performance Rights is subject to achieving performance targets set out in the notice of general meeting approving the Performance Rights.
3. The Company may pay the Executive in lieu of notice.
4. Any payments or benefits to be provided to the Executive under the termination clauses or any other clause of the Employment Contract will be reduced to a level which does not require shareholder approval under Part 2D.2, Division 2 of the Corporations Act 2001 (Cth) and which does not infringe the ASX Listing Rules.