In an interesting and surprising announcement, on the 1st of July, 2025 Japaul Gold and Ventures PLC appointed new board members at their 20th Annual General Meeting, and named one of them as Chairman to take over the reigns from the pioneer Chairman, now outgoing, Paul Jegede.
The newly appointed Board members are Mr David Dawson, Engineer Francis Ekeng, and Mr Segun Oloketuyi, of which the latter was named as the new Chairman of the board. According to the announcement, " Japaul Gold & Ventures PLC is proud to announce a transformative phase in its corporate governance and strategic direction with the appointment of Mr Segun Oloketuyi as the new Chairman of the Board of Directors, alongside the onboarding of Mr Francis Ekeng as Non-Executive Director and the confirmation of Mr David Dawson as the new Managing Director. This development marks a pivotal moment in the Company's evolution, as it positions itself to capitalize on emerging opportunities in gold exploration, mining technology, and sustainable resource development across Africa and beyond".
According to the publication, Mr Segun Oloketuyi is a seasoned financial expert with decades of experience in banking, governance, and business transformation, having previously worked as Managing Director of Wema bank PLC. Francis Ekeng is an entrepreneur and CEO of Breeztek Limited, with influence across Telecommunications, Real estate, Technology, and notably, Heavy Metal Mining and trade, particularly in Eastern Africa. While Mr David Dawson, a Canadian, is a seasoned geophysical and mining expert with over 40 years of hands-on experience in contracting, consulting, and project leadership.
Speaking on the board changes, the outgoing Chairman, Paul Jegede noted: "These appointments represent the company's strategic leap into the future. We are combining deep technical expertise, strong governance, and innovative entrepreneurship to reposition Japaul Gold for accelerated growth, regional expansion, and operational excellence." The new board promises a new dawn.
In reaction to the announcement, Japaul shares gained over 9% on the NGX board today.
What does this signify for Shareholders, and what should Investors expect? Is it really a new dawn for the company? Only time will unravel. But it appears like Investors are quite optimistic about the development.
Meanwhile, in another news, at the AGM the shareholders approved an increase of the Share capital of the company from 14 billion ordinary shares to 100 billion ordinary and/or preference shares, and authorized the company to raise additional Equity Capital up to ₦500 billion for the development of Gold mines and acquisitions. They also authorized Share reconstruction after the capital raising exercise.
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