Director/PDMR Shareholding

RNS Number : 9825X

Kavango Resources PLC

10 January 2022

 

PRESS RELEASE

10 January 2022

KAVANGO RESOURCES PLC

("Kavango" or "the Company")

Purchase and Issue of Shares

Total Voting Rights

PDMR Dealing

Purchase of Shares and PDMR Dealing

Kavango, the exploration company targeting the discovery of world-class mineral deposits in Botswana, has been notified that on Thursday, 6 January 2022, Michael Moles, who is a non-executive director of the Company, acquired 9,169,169 ordinary shares of £0.001 each in the Company ("Ordinary Shares") at a price of £0.045 per share.

Michael Moles is a Person Discharging Managerial Responsibilities ("PDMR") for the purposes of the Market Abuse Regulation ("MAR"). The Notification of Transaction Form provided in accordance with the requirements of the MAR in relation to the transaction listed above is set out below.

Issue of Shares and PDMR Dealing

On 11 August 2021 Kavango announced its agreement with Michael Moles to settle his directors' fees (net of statutory deductions) in shares. Accordingly Kavango announces it is now issuing 99,771 new ordinary shares of 0.001 each in the Company to Michael Moles. ("Director Shares").

This issue of shares relates to the period 1 October to 31 December 2021. The number of shares due has been calculated at an issue price equal to the average of the closing mid-price of the Company's shares over that quarter. During that period the average closing mid-price of the Company's shares was 5.25 pence per share.

Admission and Total Voting Rights

Application will be made for the Director Shares to be admitted to the Standard List segment of the Official List and to trading on the main market of the London Stock Exchange plc ("Admission"). It is expected that Admission will become effective and dealings in the Director Shares will commence at 8.00am on or around 17 January 2022.

Following Admission, the total issued share capital of the Company will consist of 406,570,533 Ordinary Shares. The Company does not hold any shares in treasury. Therefore, the total number of voting rights in the Company is 406,570,533 and this 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. 

An updated Total Voting Rights announcement will be made by the Company following admission, in accordance with the requirements of DTR 5.6.

PDMR Dealing - Purchase of Shares

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Charles Michael Edward Moles
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	Kavango Resources plc
b)	LEI	2138007PZJFATXWUTS29
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, type of instrument	Ordinary shares of 0.001 each
	Identification code	ISIN:  GB00BF0VMV24
b)	Nature of the transaction	Purchase of ordinary shares of 0.001 each
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			£0.045	9,169,169
d)	Aggregated information
	- Aggregated volume	Single transaction
	- Price	As mentioned above
e)	Date of the transaction	2022-01-06
f)	Place of the transaction	Outside a Trading Venue

PDMR Dealing - Issue of Director Shares

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Charles Michael Edward Moles
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	Kavango Resources plc
b)	LEI	2138007PZJFATXWUTS29
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, type of instrument	Ordinary shares of 0.001 each
	Identification code	ISIN:  GB00BF0VMV24
b)	Nature of the transaction	Issue of ordinary shares of 0.001 each
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			£0.0525	99,771
d)	Aggregated information
	- Aggregated volume	N/A
	- Price
e)	Date of the transaction	2022-01-10
f)	Place of the transaction	Outside a Trading Venue

Further information in respect of the Company and its business interests is provided on the Company's website at  www.kavangoresources.com  and on Twitter at #KAV.

For further information please contact:

Kavango Resources plc   

Ben Turney

[e-mail]

First Equity (Joint Broker)

[phone]

Jason Robertson 

SI Capital Limited (Joint Broker) 

[phone]

Nick Emerson

 

END

 

 

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