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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Kore Potash Plc | LSE:KP2 | London | Ordinary Share | GB00BYP2QJ94 | ORD USD0.001 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.52 | 0.50 | 0.54 | 0.00 | 07:31:43 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMKP2
RNS Number : 8991U
Kore Potash PLC
09 April 2021
9 April 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 1,103,296 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 March 2021, as approved at the General Meeting of the Company held on 18 September 2020 ("Remuneration Shares").
Additionally, the Company also confirms the issue of 1,250,000 ordinary shares due under the third and final tranche of the Company's performance rights plan (the "Performance Rights") for Non-Executive Directors.
Non-Executive Director shares in lieu of cash fees
The number of New Ordinary Shares issued to each Non-Executive Director in lieu of remuneration for the quarter ended 31 March 2021 was calculated as follows:
Annual fee Quarterly Percentage GBP/USD 7 day Number fee of Remuneration VWAP of shares David Hathorn US$100,000.00 US$8,333.33* 55% 1.3779 1.5994 207,973 --------------- -------------- ----------------- -------- ------- ----------- David Netherway US$80,500.00 US$20,125.00 55% 1.3779 1.5994 502,254 --------------- -------------- ----------------- -------- ------- ----------- Jonathan Trollip US$63,000.00 US$15,750.00 55% 1.3779 1.5994 393,069 --------------- -------------- ----------------- -------- ------- ----------- Total 1,103,296 ----------------- -------- ------- -----------
* As part of the Company's on-going cost saving exercise David Hathorn waived his remuneration for the months of February and March 2021.
Performance rights
The Company also confirms it has issued 1,250,000 ordinary shares to satisfy the unconditional vesting of the third and final tranche of the Performance Rights issued to certain Non-Executive Directors on 29 March 2021, being the third anniversary of admission to trading on AIM. The previous two tranches were announced on 15 April 2019 and 7 April 2020.
Consistent with the previous two tranches, the following is the breakdown of the ordinary shares issued under the Performance Rights:
Number of Shares Amount to be paid David Hathorn 500,000 US$500.00 ----------------- ------------------ David Netherway 250,000 US$250.00 ----------------- ------------------ Jonathan Trollip 250,000 US$250.00 ----------------- ------------------ Timothy Keating 250,000 US$250.00 ----------------- ------------------ Total 1,250,000 US$1,250.00 ----------------- ------------------
Accordingly, a total of 2,353,296 ordinary shares of US$0.001 each (being 1,103,296 ordinary shares in respect of Directors Remuneration Shares and 1,250,000 ordinary shares in respect of Performance Rights as detailed above) have today been issued. Application has been made for the admission of 2,353,296 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 Wednesday 14 April 2021.
For ASX's purposes, and having previously obtained shareholder approvals for the issues, the shares are issued under ASX Listing Rule 10.11 (Remuneration Shares) and 10.14 (Performance Rights) respectively.
Following this issue, the Company's issued share capital consists of 2,454,121,469 ordinary shares. No shares are held in treasury. Accordingly, the total number of voting rights in the Company is 2,454,121,469.
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.
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 7,500,000 Performance Rights and Unlisted Options previously issued have been cancelled as follows:
Number of Securities Performance Rights expiring 1 March 2021 (Directors) (KP2AC) 4,500,000 ------------ Unlisted Options exercisable at GBP0.022 each, expiring on 1 January 2024 (KP2AB) 3,000,000 ------------ Total 7,500,000 ------------
This announcement has been approved for release by the Board.
SFor further information, please visit www.korepotash.com or contact:
Kore Potash Tel: +27 11 469 9140 Brad Sampson - CEO Tavistock Communications Tel: +44 (0) 20 7920 Jos Simson 3150 Edward Lee Canaccord Genuity - Nomad and Tel: +44 (0) 20 7523 Broker 4600 James Asensio Henry Fitzgerald-O'Connor Shore Capital - Joint Broker Tel: +44 (0) 20 7408 Jerry Keen 4050 Toby Gibbs James Thomas Questco Corporate Advisory - JSE Tel: +27 (11) 011 Sponsor 9208 Mandy Ramsden
Notification of transaction by Person Discharging Managerial Responsibilities ("PDMR") in relation to issue of Renumeration Shares. For the avoidance of doubt the ordinary shares being issued under the Performance Rights was reported on 15 April 2019.
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 Ordinary Shares of US$0.001 instrument, type of instrument each Identification code GB00BYP2QJ94 b) Nature of the transaction Issue of shares c) Price(s) and volume(s) Price: 1.5994p Volume: 207,973 d) Aggregated information Aggregated volume: N/A Price: N/A e) Date of the transaction 9 April 2021 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 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 Ordinary Shares of US$0.001 instrument, type of instrument each Identification code GB00BYP2QJ94 b) Nature of the transaction Issue of shares c) Price(s) and volume(s) Price: 1.5994p Volume: 502,254 d) Aggregated information Aggregated volume: N/A Price: N/A e) Date of the transaction 9 April 2021 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 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 Ordinary Shares of US$0.001 each instrument, type of instrument Identification code GB00BYP2QJ94 b) Nature of the transaction Issue of shares c) Price(s) and volume(s) Price:1.5994p Volume: 393,069 d) Aggregated information Aggregated volume: N/A Price: N/A e) Date of the transaction 9 April 2021 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 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 Ordinary Shares of US$0.001 instrument, type of instrument each Identification code B00BYP2QJ94 b) Nature of the transaction Conversion of Performance Rights c) Price(s) and volume(s) Price: US$0.001 Volume: 500,000 d) Aggregated information Aggregated volume: N/A Price: N/A e) Date of the transaction 9 April 2021 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 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 Ordinary Shares of US$0.001 each instrument, type of instrument Identification code GB00BYP2QJ94 b) Nature of the transaction Conversion of Performance Rights c) Price(s) and volume(s) Price: US$0.001 Volume: 250,000 d) Aggregated information Aggregated volume: N/A Price: N/A e) Date of the transaction 9 April 2021 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 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, Ordinary Shares of US$0.001 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: 250,000 d) Aggregated information Aggregated volume: N/A Price: N/A e) Date of the transaction 9 April 2021 f) Place of the transaction Outside a trading venue
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April 09, 2021 02:00 ET (06:00 GMT)
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