Kore Potash PLC Results of General Meeting and Issue of Shares (8431F)

TIDMKP2

RNS Number : 8431F

Kore Potash PLC

17 July 2019

17 July 2019

Kore Potash Plc

("Kore Potash" or the "Company")

Results of General Meeting ("GM") and Issue of Shares

Kore Potash plc, the potash development company whose flagship asset is the 97%-owned Sintoukola Potash Project ("Kola" or the "Project"), is pleased to announce that the resolutions put to its GM held earlier today, were duly passed. The resolutions were all passed on a show of hands.

The GM was held, inter alia, to approve the issue of 646,914,254 new ordinary shares ("Ordinary Shares") in the Company at GBP0.016 per share in line with the Company's announcements of 13 June and 14 June 2019. Accordingly, application has been made for the Ordinary Shares to be admitted to trading on AIM and the JSE Securities Exchange on 19 July 2019. These shares will rank pari passu with the existing ordinary shares currently in issue.

Following this issue, the Company's issues share capital will consist of 1,509,653,943 ordinary shares of US$0.001. Accordingly, the total number of voting rights in the Company is 1,509,653,943. This 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 in their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

The following statistics, as detailed in the attached Annexure A, are provided in respect of each motion on the Agenda of Kore Potash plc's GM.

ENDS

For further information, please visit www.korepotash.com or contact:

 
 Kore Potash                        Tel: [phone] 
  Brad Sampson - CEO 
 Tavistock Communications           Tel: [phone] 
  Jos Simson 
  Edward Lee 
 Canaccord Genuity - Nomad and      Tel: [phone] 
  Broker 
  James Asensio 
  Henry Fitzgerald-O'Connor 
 Shore Capital - Joint Broker       Tel: [phone] 
  Jerry Keen 
  Toby Gibbs 
  Mark Percy 
 

ANNEXURE A:

In respect to each resolution the total number of votes exercisable by all validly appointed proxies was as follows:

 
            RESOLUTION              TOTAL VOTES       FOR                      DISCRETION    AGAINST    VOTES WITHHELD 
                                      VALIDLY                     DISCRETION     - OTHER 
                                        CAST                      - CHAIRMAN 
 Resolution 1 - Authority to 
  allot shares 
  in connection with the 
  fundraise                         512,082,606   488,308,615         28,384   23,186,355     559,252        1,335,589 
                                   ------------  ------------  -------------  -----------  ----------  --------------- 
 Resolution 2 - Authority to 
  allot shares                      511,075,696   486,871,705         28,384   23,186,355     989,252        2,342,499 
                                   ------------  ------------  -------------  -----------  ----------  --------------- 
 Resolution 3 - Approval of 
  securities 
  issue to non-affiliated 
  investors in 
  connection with the fundraise     175,631,382   151,420,381         28,384   23,186,355     996,262      166,072,289 
                                   ------------  ------------  -------------  -----------  ----------  --------------- 
 Resolution 4 - Approval of 
  securities 
  issue to SQM under the placing    176,931,730   152,491,131         28,384   23,186,355   1,225,860      164,841,941 
                                   ------------  ------------  -------------  -----------  ----------  --------------- 
 Resolution 5 - Approval of 
  securities 
  issue to SGRF under the placing   176,931,730   152,491,131         28,384   23,186,355   1,225,860      164,841,941 
                                   ------------  ------------  -------------  -----------  ----------  --------------- 
 Resolution 6 - Approval of 
  securities 
  issue to director under the 
  subscriptions 
  - Mr David Hathorn                513,246,964   487,746,915         28,384   23,186,355   2,285,310          101,231 
                                   ------------  ------------  -------------  -----------  ----------  --------------- 
 Resolution 7 - Approval of 
  securities 
  issue to director under the 
  subscriptions 
  - Mr Brad Sampson                 513,316,964   487,816,915         28,384   23,186,355   2,285,310          101,231 
                                   ------------  ------------  -------------  -----------  ----------  --------------- 
 Resolution 8 - Approval to issue 
  options 
  to Brad Sampson                   513,316,964   487,821,915         28,384   23,186,355   2,280,310          101,231 
                                   ------------  ------------  -------------  -----------  ----------  --------------- 
 Resolution 9 - Approval to issue 
  shares 
  to employees                      491,441,740   466,039,718         33,384   23,186,355   2,182,283       21,976,455 
                                   ------------  ------------  -------------  -----------  ----------  --------------- 
 Resolution 10 - Approval to 
  issue shares 
  to Mr David Hathorn in lieu of 
  cash 
  payments for director fees        491,461,040   467,456,618         33,384   23,186,355     784,683       21,957,155 
                                   ------------  ------------  -------------  -----------  ----------  --------------- 
 Resolution 11 - Approval to 
  issue shares 
  to Mr Jonathan Trollip in lieu 
  of cash 
  payments for director fees        491,461,040   467,456,618         33,384   23,186,355     784,683       21,957,155 
                                   ------------  ------------  -------------  -----------  ----------  --------------- 
 Resolution 12 - Approval to 
  issue shares 
  to Mr Timothy Keating in lieu 
  of cash 
  payments for director fees        327,726,040   303,721,618         33,384   23,186,355     784,683      185,692,155 
                                   ------------  ------------  -------------  -----------  ----------  --------------- 
 Resolution 13 - Approval to 
  issue shares 
  to Mr David Netherway in lieu 
  of cash 
  payments for director fees        512,082,606   488,308,615         28,384   23,186,355     559,252        1,335,589 
                                   ------------  ------------  -------------  -----------  ----------  --------------- 
 Resolution 14 - Approval to 
  issue shares 
  to Mr José Antonio Merino 
  in lieu 
  of cash payments for director 
  fees                              511,075,696   486,871,705         28,384   23,186,355     989,252        2,342,499 
                                   ------------  ------------  -------------  -----------  ----------  --------------- 
 Resolution 15 - Disapplication 
  of pre-emption 
  rights in connection with the 
  fundraise                         175,631,382   151,420,381         28,384   23,186,355     996,262      166,072,289 
                                   ------------  ------------  -------------  -----------  ----------  --------------- 
 Resolution 16 - Disapplication 
  of pre-emption 
  rights                            176,931,730   152,491,131         28,384   23,186,355   1,225,860      164,841,941 
                                   ------------  ------------  -------------  -----------  ----------  --------------- 
 

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 [e-mail] or visit www.rns.com.

END

MSCUBVKRKRABARR

(END) Dow Jones Newswires

July 17, 2019 06:00 ET (10:00 GMT)