Chesterfield Resources PLC has announced changes to its management and Board. Kashif Afzal has become the new Executive Chairman, replacing Paul Ensor, who will now serve as a non-executive Director. Ajay Kejriwal will also transition from an executive position to a non-executive Director and continue as a non-executive CFO. David Cliff has resigned from his position as non-executive Director with immediate effect. These changes are aimed at preparing the company to exploit its existing assets and review additional opportunities as they arise.

Kashif Afzal, the new Executive Chairman, is a British businessman based in the UAE and a graduate of Oxford University and the professional program at the Camborne School of Mines. The company anticipates that his experience and network in the UAE will assist in the identification and financing of additional opportunities for the company.

The Board has also agreed to issue certain directors with options over a total of 4,000,000 Ordinary Shares of 0.1p each in the capital of the Company. These options will vest immediately and will expire five years from the date of issue with an exercise price of 2p, a multiple of the recent share price. The options will be granted to Paul Ensor and Ajay Kejriwal, with 2,000,000 options each.

Chesterfield Executive Chairman Kashif Afzal expressed gratitude to David Cliff for his support and stated that the Board changes are intended to enhance the strategic decision-making at the Company and continue efforts to conserve assets and avoid unnecessary dilution.

The announcement contains information that would have been deemed inside information until the release of this announcement. For further information, visit the company's website or contact Chesterfield Resources plc directly.