Kenmare Resources — Capital/Financing Update 2019

Feb 5, 2019

National Storage Mechanism | Additional information

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Kenmare Resources plc (“Kenmare” or “the Company”)

5 February 2019

Confirmation of Capital Reduction

Kenmare Resources plc (LSE:KMR, ISE:KMR), one of the leading global producers of titanium minerals and zircon, announces that, further to its regulatory news releases on 6 November 2018 and 5 December 2018, the High Court of Ireland has made an order confirming a capital reduction of the Company's share premium account (the "Capital Reduction").

The Capital Reduction, as described in the circular that was sent to shareholders on 6 November 2018 and which is available at the Company's website (www.kenmareresources.com), was approved by shareholders at the extraordinary general meeting held on 5 December 2018. The order of the High Court has been registered with the Registrar of Companies in Ireland and, accordingly, the Capital Reduction has now become effective.

The purpose of the Capital Reduction is to eliminate the deficit on the Company's profit and loss account as at 30 June 2018 by the partial cancellation of the share premium account.

Capitalised terms used herein but not defined have the same meanings as set out in the Circular.

For further information, please contact:

Kenmare Resources plc

Michael Carvill, Managing Director                                    

Tel: +353 1 671 0411                                                             

Tony McCluskey, Financial Director

Tel: +353 1 671 0411                                                             

Jeremy Dibb, Corporate Development and Investor Relations Manager

Tel: +353 1 671 0411

Mob: + 353 87 943 0367

Murray                                                                                     

Joe Heron                                                                                 

Tel: +353 1 498 0300                                                             

Mob: +353 87 690 9735                                                       

Buchanan

Bobby Morse / Chris Judd

Tel: +44 207 466 5000