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Kore Potash PLC - Issue of Equity

RNS Number : 2978A
Kore Potash PLC
21 January 2020
 

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

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Kore Potash

Price: 1.2

Market: LSE
Market Cap: £18.5 m
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