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SolGold plc announced on February 21, 2025, that litigation proceedings (QUD112/2023) between ex-CEO Darryl Cuzzubbo and SolGold and its current and former directors have been resolved by way of settlement. As part of the settlement, SolGold made a payment to Mr. Cuzzubbo and no longer contends he engaged in any serious misconduct; the specific terms of settlement are confidential.
| Date | 21 Feb 2025 |
| Time | 10:15:01 |
| Category | Miscellaneous |
| ID | 0468Y |
21 February 2025
SolGold plc
(05449516)
("SolGold" or the "Company")
Litigation with Ex-CEO
The Board of Directors of SolGold (LSE & TSX: SOLG) makes the following statement in relation to the litigation proceedings between Darryl Cuzzubbo v SolGold plc and Ors. (QUD112/2023):
(i) the proceedings between Mr Cuzzubbo and SolGold and its current and former directors have been resolved by way of settlement;
(ii) SolGold no longer contends that Mr Cuzzubbo engaged in any serious misconduct during his employment;
(iii) the parties agree that, at the time of Mr Cuzzubbo's termination, his view as to the company's operation differed to that of the Board of SolGold; and
(iv) a payment was made by SolGold to Mr Cuzzubbo in respect of the settlement and the terms of settlement are otherwise confidential.
CONTACT:
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Ryan Wilson General Counsel SolGold plc
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Tel: +44 (0) 20 3807 6996 |