Last checked at 21 Oct 2021 16:45
PRESS RELEASE
21 October 2021
KAVANGO RESOURCES PLC
("Kavango" or "the Company")
Issue of Shares, Total Voting Rights, PDMR Dealing
Issue of Shares and PDMR Dealing
On 11 August 2021 Kavango announced its agreement with Michael Moles, a non-executive director, to settle his directors' fees (net of statutory deductions) in shares. Accordingly, Kavango announces it is now issuing 111,803 new ordinary shares of £0.001 each in the Company to Michael Moles ("Director Shares").
This issue of shares relates to the period 1 July 2021 to 30 September 2021. The number of shares due has been calculated at an issue price equal to the average of the closing mid-price of the Company's shares over that quarter. During that period the average closing mid-price of the Company's shares was 5.27 pence per share.
Admission and Total Voting Rights
Application will be made for the Director Shares to be admitted to the Standard List segment of the Official List and to trading on the main market of the London Stock Exchange plc ("Admission"). It is expected that Admission will become effective and dealings in the Director Shares will commence at 8.00am on or around 28 October 2021.
Following Admission, the total issued share capital of the Company will consist of 406,470,762 Ordinary Shares. The Company does not hold any shares in treasury. Therefore, the total number of voting rights in the Company is 406,470,762 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.
An updated Total Voting Rights announcement will be made by the Company following admission, in accordance with the requirements of DTR 5.6.
PDMR Dealing - Issue of Director Shares
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Charles Michael Moles | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Non-Executive Director | |||
b)
| Initial notification /Amendment
| Initial Notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Kavango Resources plc | |||
b)
| LEI
| 2138007PZJFATXWUTS29 | |||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| ||||
a)
| Description of the financial instrument, type of instrument | Ordinary shares of £0.001 each
| |||
Identification code | ISIN: GB00BF0VMV24 | ||||
b)
| Nature of the transaction
| Issue of ordinary shares of £0.001 each | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
£0.0527 | 111,803 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | N/A | ||||
- Price | |||||
e)
| Date of the transaction
| 2021-10-20 | |||
f)
| Place of the transaction
| Outside a Trading Venue | |||
Further information in respect of the Company and its business interests is provided on the Company's website at www.kavangoresources.com and on Twitter at #KAV.
For further information please contact:
Kavango Resources plc
Ben Turney
bturney@kavangoresources.com
First Equity (Joint Broker)
+44 207 374 2212
Jason Robertson
SI Capital Limited (Joint Broker)
+44 1483 413500
Nick Emerson