Last checked at 17 Jul 2019 11:00
17 July 2019
Kore Potash Plc
("Kore Potash" or the "Company")
Results of General Meeting ("GM") and Issue of Shares
Kore Potash plc, the potash development company whose flagship asset is the 97%-owned Sintoukola Potash Project ("Kola" or the "Project"), is pleased to announce that the resolutions put to its GM held earlier today, were duly passed. The resolutions were all passed on a show of hands.
The GM was held, inter alia, to approve the issue of 646,914,254 new ordinary shares ("Ordinary Shares") in the Company at £0.016 per share in line with the Company's announcements of 13 June and 14 June 2019. Accordingly, application has been made for the Ordinary Shares to be admitted to trading on AIM and the JSE Securities Exchange on 19 July 2019. These shares will rank pari passu with the existing ordinary shares currently in issue.
Following this issue, the Company's issues share capital will consist of 1,509,653,943 ordinary shares of US$0.001. Accordingly, the total number of voting rights in the Company is 1,509,653,943. This 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 in their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
The following statistics, as detailed in the attached Annexure A, are provided in respect of each motion on the Agenda of Kore Potash plc's GM.
ENDS
For further information, please visit www.korepotash.com or contact:
Kore Potash Brad Sampson - CEO
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| Tel: +27 11 469 9140 |
Tavistock Communications Jos Simson Edward Lee
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| Tel: +44 (0) 20 7920 3150 |
Canaccord Genuity - Nomad and Broker James Asensio Henry Fitzgerald-O'Connor
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| Tel: +44 (0) 20 7523 4600 |
Shore Capital - Joint Broker Jerry Keen Toby Gibbs Mark Percy |
| Tel: +44 (0) 20 7408 4050 |
ANNEXURE A:
In respect to each resolution the total number of votes exercisable by all validly appointed proxies was as follows:
RESOLUTION | TOTAL VOTES VALIDLY CAST | FOR |
DISCRETION - CHAIRMAN
| DISCRETION - OTHER | AGAINST | VOTES WITHHELD |
Resolution 1 - Authority to allot shares in connection with the fundraise | 512,082,606
| 488,308,615
| 28,384
| 23,186,355
| 559,252
| 1,335,589
|
Resolution 2 - Authority to allot shares | 511,075,696
| 486,871,705
| 28,384
| 23,186,355
| 989,252
| 2,342,499
|
Resolution 3 - Approval of securities issue to non-affiliated investors in connection with the fundraise | 175,631,382
| 151,420,381
| 28,384
| 23,186,355
| 996,262
| 166,072,289
|
Resolution 4 - Approval of securities issue to SQM under the placing | 176,931,730
| 152,491,131
| 28,384
| 23,186,355
| 1,225,860
| 164,841,941
|
Resolution 5 - Approval of securities issue to SGRF under the placing | 176,931,730
| 152,491,131
| 28,384
| 23,186,355
| 1,225,860
| 164,841,941
|
Resolution 6 - Approval of securities issue to director under the subscriptions - Mr David Hathorn | 513,246,964
| 487,746,915
| 28,384
| 23,186,355
| 2,285,310
| 101,231
|
Resolution 7 - Approval of securities issue to director under the subscriptions - Mr Brad Sampson | 513,316,964
| 487,816,915
| 28,384
| 23,186,355
| 2,285,310
| 101,231
|
Resolution 8 - Approval to issue options to Brad Sampson | 513,316,964
| 487,821,915
| 28,384
| 23,186,355
| 2,280,310
| 101,231
|
Resolution 9 - Approval to issue shares to employees | 491,441,740
| 466,039,718
| 33,384
| 23,186,355
| 2,182,283
| 21,976,455
|
Resolution 10 - Approval to issue shares to Mr David Hathorn in lieu of cash payments for director fees | 491,461,040
| 467,456,618
| 33,384
| 23,186,355
| 784,683
| 21,957,155
|
Resolution 11 - Approval to issue shares to Mr Jonathan Trollip in lieu of cash payments for director fees | 491,461,040
| 467,456,618
| 33,384
| 23,186,355
| 784,683
| 21,957,155
|
Resolution 12 - Approval to issue shares to Mr Timothy Keating in lieu of cash payments for director fees | 327,726,040
| 303,721,618
| 33,384 | 23,186,355
| 784,683
| 185,692,155
|
Resolution 13 - Approval to issue shares to Mr David Netherway in lieu of cash payments for director fees | 512,082,606
| 488,308,615
| 28,384
| 23,186,355
| 559,252
| 1,335,589
|
Resolution 14 - Approval to issue shares to Mr José Antonio Merino in lieu of cash payments for director fees | 511,075,696
| 486,871,705
| 28,384 | 23,186,355
| 989,252
| 2,342,499
|
Resolution 15 - Disapplication of pre-emption rights in connection with the fundraise | 175,631,382
| 151,420,381
| 28,384 | 23,186,355
| 996,262
| 166,072,289
|
Resolution 16 - Disapplication of pre-emption rights | 176,931,730
| 152,491,131
| 28,384 | 23,186,355
| 1,225,860
| 164,841,941
|