Kodal Minerals PLC Board Appointment (9055W)

TIDMKOD

RNS Number : 9055W

Kodal Minerals PLC

20 November 2017

Kodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining

20 November 2017

Kodal Minerals plc ('Kodal Minerals' or 'the Company')

Board Appointment

Kodal Minerals plc, the AIM quoted mineral exploration and development company, is pleased to announce the appointment of Dr Qingtao Zeng to the Kodal Board as a non-executive Director with immediate effect. Dr Zeng is the appointed representative of Suay Chin International Pte ("Suay Chin") which recently completed its subscription to take a 20 per cent shareholding in the Company.

Dr Zeng completed a PhD in geology at the University of Western Australia in 2013. Dr Zeng has been engaged as a consulting geologist, principally working with CSA Global based in Perth, Australia, and has a range of geological and commercial specialities. Since 2015, Dr Zeng has been extensively involved in the lithium exploration and development sector and through his strong network of contacts throughout China has helped clients complete a range of contracts relating to the supply or purchase of lithium in the form of concentrate or direct shipping ores.

Commenting on the appointment, Robert Wooldridge, Chairman, said "We are delighted to welcome Qingtao to our Board as further demonstration of the support and cooperation from Suay Chin. Qingtao is an experienced mining consultant and his knowledge and advice will be of great benefit to the Company as we continue to explore and develop our Bougouni lithium project in Mali."

Under the Relationship Agreement between the Company and Suay Chin, Suay Chin has the right to Board representation for as long as it holds not less than 12 per cent of the issued share capital of the Company. In addition, Dr Zeng has been granted options over 10 million ordinary shares of the Company. These options are exercisable at a price of 0.38 pence per share, being the same price as the recent subscription to shares by Suay Chin, and have a life of 5 years from grant. 50 per cent. of the options are exercisable immediately, with a further 25 per cent. becoming exercisable after one year and the remaining 25 per cent. becoming exercisable in two years' time.

AIM rules disclosures

Dr Qingtao Zeng, aged 34, is, or has during the last five years been, a director or partner of the following companies and partnerships:

 
 Current directorships/partnerships   Past directorships/partnerships 
 GeoSmart Consulting Pty                Prosper Minerals Pty Ltd 
  Ltd                                    (deregistered) 
  Ruiyuan Australia Pty Ltd 
  Kalgoorlie Treasure Resources 
  Pty Ltd 
  Mining Value Fund Pty Ltd 
 

**ENDS**

For further information, please visit www.kodalminerals.com or contact the following:

 
 Kodal Minerals plc                        Tel: +61 418 
  Bernard Aylward, CEO                      943 345 
 Allenby Capital Limited, AIM Nominated    Tel: [phone] 
  Adviser                                   5656 
  Jeremy Porter/Nick Harriss 
 SP Angel Corporate Finance LLP,           Tel: [phone] 
  Financial Adviser & Broker                0470 
  John Mackay 
 St Brides Partners Ltd, Financial         Tel: [phone] 
  PR                                        1177 
  Susie Geliher/Megan Dennison/Lottie 
  Wadham 
 

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                             Qingtao Zeng 
---  -------------------------------  ------------------------------- 
 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                             Kodal Minerals plc 
---  -------------------------------  ------------------------------- 
 b)   LEI                              213800VKFS7TS32EGI81 
---  -------------------------------  ------------------------------- 
 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                        Options over 
       of the Financial                    ordinary shares 
       instrument,                         of 0.03125p 
       type of instrument 
--- 
      Identification                   GB00BH3X7Y70 
       code 
---  -------------------------------  ------------------------------- 
 b)   Nature of the                      Grant of Options 
       transaction 
---  -------------------------------  ------------------------------- 
 c)   Price(s) and                      Price(s)          Volume(s) 
       volume(s)                        ----------------  ----------- 
                                         Exercise price 
                                          0.38 pence 
                                          per share        10,000,000 
                                        ----------------  ----------- 
---  -------------------------------  ------------------------------- 
 d)   Aggregated information:           n/a 
       Aggregated 
       volume 
       Price 
---  -------------------------------  ------------------------------- 
 e)   Date of the                      18 November 2017 
       transaction 
---  -------------------------------  ------------------------------- 
 f)   Place of the                     London Stock Exchange, AIM 
       transaction                      Market (XLON) 
---  -------------------------------  ------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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November 20, 2017 02:00 ET (07:00 GMT)