MC MINING LIMITED - Appointment of Interim Managing Director & Chief Executive Officer

Appointment of Interim Managing Director & Chief Executive Officer

MC Mining Limited
Previously Coal of Africa Limited
(Incorporated and registered in Australia)
Registration number ABN 008 905 388
ISIN AU000000MCM9
JSE share code: MCZ
ASX/AIM code: MCM

ANNOUNCEMENT                                                                           

26 June 2024

APPOINTMENT OF INTERIM MANAGING DIRECTOR & CHIEF EXECUTIVE OFFICER

MC Mining Limited (MC Mining or the Company) previously announced the appointment of Yi (Christine) He as
interim Managing Director & Chief Executive Officer (MD & CEO) from 1 July 2024. This follows the resignation
of Godfrey Gomwe as MD & CEO, effective 30 June 2024. The material terms agreed with regards to Mr Gomwe's
resignation as well as Ms He's employment agreement are noted in Annexure A.


Authorised by
Bill Pavlovski
Company Secretary

This announcement has been approved by the Company's Disclosure Committee.

 For more information contact:
 Bill Pavlovski         Company                Vision Corporate (Pty)         bill.pavlovski@mcmining.co.za
                        Secretary              Ltd
 Company advisers:
 Marion Brower          Financial PR           R&A Strategic                  +27 11 880 3924
                        (South Africa)         Communications

 BSM Sponsors Proprietary Limited is the nominated JSE Sponsor

About MC Mining Limited:
MC Mining is an ASX/JSE-listed coal exploration, development and mining company operating in South Africa.
MC Mining's key projects include the Uitkomst Colliery (metallurgical and thermal coal), Makhado Project (hard
coking coal), Vele Colliery (semi-soft coking and thermal coal), and the Greater Soutpansberg Projects (coking
and thermal coal).
Annexure A

All amounts are in South African Rand (ZAR) unless otherwise stated.


Godfrey Gomwe: Resignation Agreement

•   30 June 2024 resignation date
•   Mr Gomwe will be paid his six months' notice period plus an additional four months, totaling ZAR4,213,617
    less any tax owing to the Company, including tax on the previous exercise of the first tranche of Mr Gomwe's
    engagement options
•   No bonus is payable following Mr Gomwe's resignation
•   Performance Rights: Mr Gomwe does not own any Performance Rights.




Yi (Christine) He: Appointment Agreement

•   MD & CEO commencement date of 1 July 2024
•   Annual gross base remuneration of ZAR3,500,000
•   Annual bonus which is an amount of up to 200% of base remuneration, dependent on business performance
    and MC Mining board approval
•   The employment contract is open-ended but includes a notice period of six months
•   Performance Rights:
    Ms He is eligible to be issued performance rights under the Company's Performance Rights Plan. Any such
    issue would be subject to ongoing employment as MD & CEO as well as shareholder approval.

Date: 26-06-2024 09:00:00
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