Last checked at 21 Jan 2020 07:00
21 January 2020
Kore Potash Plc
("Kore Potash" or the "Company")
Issue of Equity
Kore Potash plc advises that a total of 3,811,398 ordinary shares of US$0.001 each in the Company ("New Ordinary Shares") have today been issued to certain Non-Executive Directors of the Company in lieu of cash fees for the quarter ended 31 December 2019. This is in line with the cost reduction strategy announced on 27 June 2019 and approved at the 2019 General Meeting of the Company held on 17 July 2019.
The number of New Ordinary Shares issued to each Non-Executive Director in lieu of remuneration for the quarter ended 31 December 2019 was calculated as follows:
| Annual fee | Quarterly fee | Percentage of Remuneration | GBP/USD | 7 day VWAP | Number of shares |
David Hathorn | US$156,000.00 | US$39,000.00 | 100% | 1.3263 | 1.1556 | 2,544,575 |
David Netherway | US$80,500.00 | US$20,125.00 | 55% | 1.3263 | 1.1556 | 722,186 |
Jonathan Trollip | US$63,000.00 | US$15,750.00 | 53% | 1.3263 | 1.1556 | 544,637 |
Total |
|
|
|
|
| 3,811,398 |
Application has been made for the admission of 3,811,398 ordinary shares of US$0.001 each on AIM, the Johannesburg Stock Exchange and the Australian Securities Exchange with admission expected to take place on 27 January 2020.
Following this issue, the Company's issued share capital consists of 1,541,252,564 ordinary shares. No shares are held in treasury. Accordingly, the total number of voting rights in the Company is 1,541,252,564.
The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
ENDS
For further information, please visit www.korepotash.com or contact:
Kore Potash Brad Sampson - CEO
| Tel: +27 11 469 9140 |
Tavistock Communications Jos Simson Edward Lee
| Tel: +44 (0) 20 7920 3150 |
Canaccord Genuity - Nomad and Broker James Asensio Henry Fitzgerald-O'Connor
| Tel: +44 (0) 20 7523 4600 |
Shore Capital - Joint Broker Jerry Keen Toby Gibbs James Thomas | Tel: +44 (0) 20 7408 4090 |
Notification of transaction by Person Discharging Managerial Responsibilities ("PDMR")
1 | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name | David Hathorn |
2 | Reason for the notification | |
a) | Position/status | Chairman |
b) | Initial notification/Amendment | Initial notification |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Kore Potash Plc |
b) | LEI | 213800NWX7EHG4UVC107 |
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 US$0.001 each |
| Identification code | GB00BYP2QJ94 |
b) | Nature of the transaction | Issue of new shares |
c) | Price(s) and volume(s)
| Price: 1.1556p Volume: 2,544,575 |
d) | Aggregated information
| Aggregated volume: N/A Price: N/A |
e) | Date of the transaction | 21 January 2020 |
f) | Place of the transaction | Outside a trading venue |
Notification of transaction by Person Discharging Managerial Responsibilities ("PDMR")
1 | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name | David Netherway |
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 | Kore Potash Plc |
b) | LEI | 213800NWX7EHG4UVC107 |
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 US$0.001 each |
| Identification code | GB00BYP2QJ94 |
b) | Nature of the transaction | Issue of new shares |
c) | Price(s) and volume(s)
| Price: 1.1556p Volume: 722,186 |
d) | Aggregated information
| Aggregated volume: N/A Price: N/A |
e) | Date of the transaction | 21 January 2020 |
f) | Place of the transaction | Outside a trading venue |
Notification of transaction by Person Discharging Managerial Responsibilities ("PDMR")
1 | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name | Jonathan Trollip |
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 | Kore Potash Plc |
b) | LEI | 213800NWX7EHG4UVC107 |
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 US$0.001 each |
| Identification code | GB00BYP2QJ94 |
b) | Nature of the transaction | Issue of new shares |
c) | Price(s) and volume(s)
| Price: 1.1556p Volume: 544,637 |
d) | Aggregated information
| Aggregated volume: N/A Price: N/A |
e) | Date of the transaction | 21 January 2020 |
f) | Place of the transaction | Outside a trading venue |