Kore Potash PLC Trading Halt, Amended Admission,Fundraising Update

RNS Number : 7526L

Kore Potash PLC

11 November 2024

 

11 November 2024

 

KORE POTASH PLC

("Kore Potash" or "the Company")

Trading Halt, Amended Admission Date & Fundraising Update

 

Kore Potash plc, the potash development company with 97% ownership of the Kola and DX Potash Projects in the Sintoukola Basin, located in the Republic of Congo, announces that the Company has requested a voluntary suspension ("Suspension") to the Company's quoted shares on the Australian Securities Exchange ("ASX") in accordance with their rules. Trading in the shares of the Company will continue to be halted ("Trading Halt") on the JSE Limited ("JSE").

 

The movement to a suspension on the ASX and continued trading halt on the JSE were requested by the Company pending an announcement in relation to the Engineering, Procurement and Construction ("EPC") contract. The Company's securities will accordingly not be traded on the ASX and JSE whilst the Suspension on the ASX and Trading Halt on the JSE remain in place.

 

Trading in the Company's ordinary securities will continue to trade as normal on AIM, a market operated by the London Stock Exchange during this period.

 

The full version of the ASX announcement can be seen here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02879034-6A1236940 

 

 

Application for admission of Subscription Shares

 

Further to the Company's announcement of 5 November 2024 regarding a share subscription (the "Fundraise"), which has raised approximately US$900,000 through the issue of 25,441,268 new ordinary shares of US$0.001 each in the Company ("Subscription Shares"), as a result of the Suspension and Trading Halt, Kore Potash advises that application will be made for the admission of 25,441,268 Subscription Shares to trading on AIM, the JSE and the Australian Securities Exchange with admission expected to take place on or around 26 November 2024 rather than 18 November 2024 as stated in the announcement of 7 November 2024.

 

The Subscription Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing issued ordinary shares of the Company. This includes the right to receive all dividends and other distributions declared or paid in respect of such ordinary shares after the date of issue of the Subscription Shares.

 

Total voting rights

Following the admission to trading of the Subscription Shares, the Company's total issued share capital will consist of 4,377,869,961 ordinary shares of US$0.001 each. No shares are held in treasury. Accordingly, the total number of voting rights in the Company will be 4,377,869,961.

 

The above figure 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 in their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

 

The Subscription Shares will be issued within the Company's existing ASX Listing Rule 7.1 capacity. The Company can confirm that none of the Subscription Shares are being issued to a party noted in ASX Listing Rule 10.11.

 

Market Abuse Regulation

Market Abuse Regulation (MAR) Disclosure - The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

 

The Company will also lodge an updated Appendix 3B Proposed issue of securities with the ASX notifying of the proposed new issue date.

 

This announcement has been approved for release by the Board.

 

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

 

Kore Potash Andre Baya, CEO
Andrey Maruta, CFO	Tel: [phone]
Tavistock Communications Nick Elwes Josephine Clerkin	Tel: [phone]
SP Angel Corporate Finance - Nomad and Broker Ewan Leggat Charlie Bouverat Grant Barker	Tel: [phone]
Shore Capital - Joint Broker Toby Gibbs James Thomas	Tel: [phone]
Questco Corporate Advisory - JSE Sponsor Doné Hattingh	Tel: [phone]

 

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