Last checked at 23 Jul 2018 07:29
Harvest Minerals Limited / Index: LSE / Epic: HMI / Sector: Mining
23 July 2018
Harvest Minerals Limited
('Harvest' or the 'Company')
Issue of Performance Shares
As announced on 5 February 2018, the Company has put in place an incentive scheme for Executive Directors and Senior Management (together, "Management"). The Tranche 2 performance condition has now been achieved, being receipt of MAPA certification. As such, the Company has issued, in aggregate, 1.5 million new Ordinary Shares to Management (the "Tranche 2 Performance Shares") as follows:
Name | Number of Tranche 3 Performance Shares issued | Resultant Ordinary Share holding in the Company |
Brian McMaster | 500,000 | 7,242,996 |
Luiz Azevedo | 500,000 | 1,645,135 |
Mark Heyhoe | 250,000 | 750,000 |
Luis Clerot | 250,000 | 750,000 |
Admission to Trading and Total Voting Rights
The above shares rank pari passu with the Company's existing Ordinary Shares. Application has been made for these new Ordinary Shares to be admitted to trading on AIM ('Admission'). It is expected that Admission will become effective and dealings in these new Ordinary Shares will commence on or around 25 July 2018.
Following the issue of the Tranche 2 Performance Shares, the total issued share capital of the Company consists of 185,835,884 Ordinary Shares with voting rights. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company is 185,835,884 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
ENDS
For further information please visit www.harvestminerals.net or contact:
Harvest Minerals Limited | Brian McMaster (Chairman) | Tel: +44 (0) 20 7317 6629 |
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Strand Hanson Limited (Nominated & Financial Adviser) | James Spinney Ritchie Balmer | Tel: +44 (0)20 7409 3494 |
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Arden Partners plc (Joint Broker) | Tim Dainton Paul Brotherhood Paul Shackleton | Tel: +44 (0) 20 7614 5900 |
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Shard Capital Partners (Joint Broker) | Damon Heath | Tel: +44 (0) 20 7186 9900 |
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St Brides Partners Ltd (Financial PR) | Isabel de Salis Gaby Jenner | Tel: +44 (0)20 7236 1177 |
Notes:
Harvest Minerals (HMI.L) is a Brazilian focused fertiliser producer advancing the 100% owned Arapua Fertiliser Project, which produces KPfértil, a proven, multi-nutrient, slow release, organic fertiliser and remineraliser. KPfértil offers many economic and agronomic benefits and addresses the significant demand for locally produced fertiliser in Brazil, with its abundant agricultural land; currently, the country imports 90% of the potash it uses but has a target to be self-sufficient in fertilisers by 2020. Covering 14,946 hectares and located in the heart of the Brazilian agriculture belt in Minas Gerais, Arapua is a shallow, low cost mine with an indicated and inferred resource of 13.07Mt at 3.1% K2O and 2.49% P2O5. This is based on drilling just 6.7% of the known mineralisation, leaving significant upside potential. This resource is equivalent to over 29 years' production and the known mineralisation expected to support 100+ years' production at 450,000 tonnes per annum.