Last checked at 1 Jun 2021 07:00
1 June 2021
Kore Potash Plc
("Kore Potash" or the "Company")
Issue of Equity and Cancellation of Certain Performance Rights and Options
Kore Potash plc advises that a total of 716,667 ordinary shares of US$0.001 each in the Company ("New Ordinary Shares") have today been issued to certain employees and ex-employees following the vesting of Performance Rights awarded under the Company's Employee Performance Incentive Plans ("Performance Shares"), of which 516,667 ordinary shares have been issued to Gavin Chamberlain, Chief Operating Officer.
Application has been made for the admission of 716,667 New Ordinary Shares on AIM, the Johannesburg Stock Exchange and the Australian Securities Exchange with admission expected to take place on 4 June 2021.
Following this issue, the Company's issued share capital consists of 3,407,357,237 ordinary shares. No shares are held in treasury. Accordingly, the total number of voting rights in the Company is 3,407,357,237.
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.
For ASX's purposes, these securities are issued under exception 9 of ASX Listing Rule 7.2.
Cancellation of certain Performance Rights and Options
Following the determination by the Company that the applicable vesting conditions within each category would not be achieved, a total of 4,199,999 Performance Rights and Unlisted Options previously issued have been cancelled as follows:
Number of Securities | |
Performance Rights expiring 17 March 2025 (Directors) (KP2AC) | 199,999 |
Unlisted Options exercisable at £0.022 each, expiring on 1 January 2024 (KP2AB) | 4,000,000 |
Total | 4,199,999 |
This announcement has been approved for release by the Board.
For further information, please visit www.korepotash.com or contact:
Kore Potash Brad Sampson - CEO
| Tel: +27 11 469 9140 | |
Canaccord Genuity - Nomad and Joint Broker Henry Fitzgerald-O'Connor James Asensio Angelos Vlatakis | Tel:+44 (0) 20 7523 4600 | |
Tavistock Communications Jos Simson Edward Lee
| Tel: +44 (0) 20 7920 3150 | |
Shore Capital - Joint Broker Jerry Keen Toby Gibbs James Thomas
| Tel: +44 (0) 20 7408 4050 | |
Questco Corporate Advisory - JSE Sponsor Mandy Ramsden | Tel: +27 (11) 011 9208 |
Notification of transaction by Person Discharging Managerial Responsibilities ("PDMR")
1 | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name | Gavin Chamberlain |
2 | Reason for the notification | |
a) | Position/status | COO |
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 | Conversion of Performance Rights |
c) | Price(s) and volume(s)
| Price: US$0.001 Volume: 516,667 |
d) | Aggregated information
| Aggregated volume: N/A Price: N/A |
e) | Date of the transaction | 1 June 2021 |
f) | Place of the transaction | Outside a trading venue |