8 Sep 2020 07:15
8 September 2020
Kore Potash Plc
("Kore Potash" or the "Company")
Confirmation of participation in Proposed Fundraise
Kore Potash, the potash exploration and development company, is pleased to report that as a result of its close period ending, the Company's significant shareholders, Sociedad Quimica y Minera de Chile S.A. ("SQM"), Princess Aurora Company Pte Ltd ("OIA") and Chairman, David Hathorn, have confirmed their participation in the proposed fundraise announced on 26 August 2020 (the "Proposed Fundraise"). Their participation in the Proposed Fundraise is set out below and is subject to the passing of the shareholder resolutions at the General Meeting of the Company to be held on 18 September 2020:
Shareholder | Number of existing Ordinary Shares | Number of New Ordinary Shares |
OIA | 304,223,209 | 265,435,349
|
SQM1 | 296,896,737 | 260,598,591
|
David Hathorn | 54,457,146 | 58,719,906
|
Note: 1) SQM's total number of ordinary shares upon completion of the Proposed Fundraise includes the Deferred Technical Services Agreement Shares. The full allotment of the Deferred Technical Services Agreement Shares is conditional on the completion of works pursuant to the Technical Services Agreement.
In addition, the Company has entered into the Technical Services Agreement with SQM for SQM to provide certain services to the Company (as described in the announcement on 25 August 2020).
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 4050 |
**END**
Kore Potash (KP2)