KR1 plc Issue of Equity under Performance Incentive Scheme

 
TIDMKR1 
 
14 July 2022 
 
                                    KR1 plc 
 
                           ("KR1" or the "Company") 
 
              Issue of Equity under Performance Incentive Scheme 
 
KR1 plc (KR1:AQSE), a leading digital asset investment company, announces that, 
following the publication of the Company's audited Financial Statements for the 
year ended 31 December 2021, the performance fee payable to Reflexivity 
Research Limited ("Reflexivity") under the terms of the Company's Performance 
Incentive Scheme (the "Scheme") has been settled. 
 
The performance fee due to Reflexivity amounts to £30,144,241 and has been 
satisfied by the allotment of 24,571,438 ordinary shares of 0.19p each in the 
Company ("Ordinary Shares"). In accordance with the terms of the Scheme, the 
Ordinary Shares were allotted at a price equivalent to the Company's audited 
net asset value per share as at 31 December 2021, the end of the period to 
which the performance fee related. 
 
Following this allotment, Reflexivity is interested in 36,038,014 Ordinary 
Shares, representing 20.3% of the Company's enlarged issued share capital. 
Reflexivity is owned by George McDonaugh and Keld van Schreven, Managing 
Directors of KR1, and Janos Berghorn, the Company's Head of Research. In 
addition to their indirect interest in the Company through Reflexivity, George 
McDonaugh and Keld van Schreven also have the following interests in Ordinary 
Shares: 
 
Executive                 Number of Ordinary Shares             % 
 
George McDonaugh¹                 3,226,315                    1.8 
 
Keld van Schreven²                2,714,484                    1.5 
 
¹including 200,000 Ordinary Shares held by his spouse 
 
²including 200,000 Ordinary Shares held by his spouse 
 
Application will be made for the Ordinary Shares to be admitted to trading on 
the Apex segment of the AQSE Growth Market and admission is expected to become 
effective on Wednesday, 20 July 2022. 
 
In accordance with the Financial Conduct Authority's Disclosure and 
Transparency Rules, KR1 announces that, following the issue of Ordinary Shares 
referred to above, the Company now has 177,369,520 Ordinary Shares in issue, 
each share carrying the right to one vote. 
 
This figure of 177,369,520 Ordinary Shares may be used by shareholders in the 
Company 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 share capital of the Company under the FCA's Disclosure and 
Transparency Rules. 
 
The Directors of KR1 plc accept responsibility for this announcement. 
 
                                   --ENDS-- 
 
For further information please contact: 
 
KR1 PLC                                                 [phone] 
George McDonaugh 
Keld van Schreven 
 
Peterhouse Capital Limited (AQSE Corporate              [phone] 
Adviser) 
Mark Anwyl 
 
FTI Consulting LLP (PR Adviser)                         [phone] 
Laura Ewart                                           [e-mail] 
Gina Magnin 
 
About KR1 plc 
 
KR1 plc is a leading digital asset investment company supporting early-stage 
decentralised and open source blockchain projects. Founded in 2016 and publicly 
traded in London on the AQSE Growth Market (KR1:AQSE), KR1 has one of the 
longest and most successful track records of investment in the digital assets 
space by investing in decentralised platforms and protocols that are emerging 
to form new financial and internet infrastructures. 
 
www.KR1.io 
 
Market Abuse Regulation (MAR) Disclosure 
 
This announcement contains inside information for the purposes of Article 7 of 
the Market Abuse Regulation EU 596/2014 as it forms part of retained EU law (as 
defined in the European Union (Withdrawal) Act 2018). 
 
  Notification and public disclosure of transactions by persons discharging 
    managerial responsibilities and persons closely associated with them. 
 
1   Details of the person discharging managerial responsibilities / person 
    closely associated 
 
a)  Name           Reflexivity Research Limited 
 
2   Reason for the notification 
 
a)  Position/      PCA of PDMRs 
    status 
 
b)  Initial        Initial 
    notification / 
    Amendment 
 
3   Details of the issuer, emission allowance market participant, auction 
    platform, auctioneer or auction monitor 
 
a)  Name           KR1 Plc 
 
b)  LEI            213800WFTIIBY5SBCL19 
 
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  Ordinary shares of 0.19 pence each 
    instrument, 
    type of 
    instrument 
    Identification ISIN: IM00BYYPQX37 
    code 
 
b)  Nature of the  Performance award 
    transaction 
 
c)  Price(s) and   24,571,438 Ordinary Shares at 122.68p per share 
    volume(s) 
 
d)  Aggregated 
    information 
    - Aggregated   N/A 
    volume 
    - Price 
 
e)  Date of the    13 July 2022 
    transaction 
 
f)  Place of the   Not a market transaction 
    transaction 
 
 
 
END 
 
 

(END) Dow Jones Newswires

July 14, 2022 09:11 ET (13:11 GMT)