Kore Potash PLC Issue of Equity, Performance Rights and Options (2531A)

TIDMKP2

RNS Number : 2531A

Kore Potash PLC

01 June 2021

1 June 2021

Kore Potash Plc

("Kore Potash" or the "Company")

Issue of Equity and Cancellation of Certain Performance Rights and Options

Kore Potash plc advises that a total of 716,667 ordinary shares of US$0.001 each in the Company ("New Ordinary Shares") have today been issued to certain employees and ex-employees following the vesting of Performance Rights awarded under the Company's Employee Performance Incentive Plans ("Performance Shares"), of which 516,667 ordinary shares have been issued to Gavin Chamberlain, Chief Operating Officer.

Application has been made for the admission of 716,667 New Ordinary Shares on AIM, the Johannesburg Stock Exchange and the Australian Securities Exchange with admission expected to take place on 4 June 2021.

Following this issue, the Company's issued share capital consists of 3,407,357,237 ordinary shares. No shares are held in treasury. Accordingly, the total number of voting rights in the Company is 3,407,357,237.

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.

For ASX's purposes, these securities are issued under exception 9 of ASX Listing Rule 7.2.

Cancellation of certain Performance Rights and Options

Following the determination by the Company that the applicable vesting conditions within each category would not be achieved, a total of 4,199,999 Performance Rights and Unlisted Options previously issued have been cancelled as follows:

 
                                                             Number of 
                                                             Securities 
 Performance Rights expiring 17 March 2025 (Directors) 
  (KP2AC)                                                     199,999 
                                                           ------------ 
 Unlisted Options exercisable at GBP0.022 each, expiring 
  on 1 January 2024 (KP2AB)                                  4,000,000 
                                                           ------------ 
 Total                                                       4,199,999 
                                                           ------------ 
 

This announcement has been approved for release by the Board.

   For further information, please visit  www.korepotash.com   or contact: 
 
    Kore Potash                         Tel: [phone] 
     Brad Sampson - CEO                  9140 
   Canaccord Genuity - Nomad and        Tel:+44 (0) 20 
    Joint Broker                         7523 4600 
    Henry Fitzgerald-O'Connor 
    James Asensio 
    Angelos Vlatakis 
 
    Tavistock Communications            Tel: +44 (0) 20 
     Jos Simson                          7920 3150 
     Edward Lee 
    Shore Capital - Joint Broker        Tel: +44 (0) 20 
     Jerry Keen                          7408 4050 
     Toby Gibbs 
     James Thomas 
    Questco Corporate Advisory -        Tel: +27 (11) 
     JSE Sponsor                         011 9208 
     Mandy Ramsden 
 

Notification of transaction by Person Discharging Managerial Responsibilities ("PDMR")

 
1   Details of the person discharging managerial responsibilities/person 
     closely associated 
a)  Name                                Gavin Chamberlain 
2   Reason for the notification 
a)  Position/status                     COO 
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        Ordinary Shares of US$0.001 
     instrument, type of instrument      each 
    Identification code                  GB00BYP2QJ94 
b)  Nature of the transaction           Conversion of Performance Rights 
c)  Price(s) and volume(s)              Price: US$0.001 
                                         Volume: 516,667 
d)  Aggregated information              Aggregated volume: N/A 
                                         Price: N/A 
e)  Date of the transaction             1 June 2021 
f)  Place of the transaction            Outside a trading venue 
 

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June 01, 2021 02:00 ET (06:00 GMT)