7 Aug 2018 09:30
Kore Potash Plc
("Kore Potash" or the "Company")
DIRECTOR/PDMR SHAREHOLDING
Kore Potash, the potash exploration and development company whose flagship asset is the Kola Project ("Kola" or the "Project"), located within the Company's 97%-owned Sintoukola Potash Project in the Republic of Congo, has received notice of the below.
Following shareholder approval at the AGM held on 27 June 2018, the US$250,000 convertible loan note agreement dated 26 March 2018 between Theseus (Guernsey) Limited as trustee of the Barland Trust (the "Trust") (of which David Hathorn is a beneficiary) ("Convertible Loan Note") has converted to 1,618,250 new ordinary shares. In accordance with the Convertible Loan Note agreement, the Trust will also receive 250,000 equity warrants on the basis of one equity warrant for each US$1 of principal amount converted.
Application has been made for the 1,618,250 new ordinary shares to be admitted to trading on AIM at 8 a.m. on 10 August 2018 ("Admission"). The new ordinary shares will rank pari passu with the existing ordinary shares in issue.
From Admission, the Company's issued ordinary shares will comprise 860,852,693 ordinary shares of US$0.001 each. No ordinary shares are held in treasury. The figure of 860,852,693 may be used by the Company's 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.
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 | PDMR |
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 convertible loan note |
c) | Price(s) and volume(s)
| Price: A$0.20 Volume: 1,618,250 |
d) | Aggregated information
| Aggregated volume: 1,618,250 Price: A$0.20 |
e) | Date of the transaction | 27 June 2018 |
f) | Place of the transaction | Outside of a trading venue |
1 | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name | David Hathorn |
2 | Reason for the notification | |
a) | Position/status | PDMR |
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
| Equity warrants to subscribe for new ordinary shares of US$0.001 each |
Identification code | GB00BYP2QJ94 | |
b) | Nature of the transaction | Issue of equity warrants |
c) | Price(s) and volume(s)
| Price: A$0.30 Volume: 250,000 |
d) | Aggregated information
| Aggregated volume: 250,000 Price: A$0.30 |
e) | Date of the transaction | 27 June 2018 |
f) | Place of the transaction | Outside of a trading venue |
Kore Potash (KP2)