Result of General Meeting

RNS Number : 2879G

Kennedy Ventures PLC

04 August 2016

 

4 August 2016

Kennedy Ventures plc

Result of General Meeting

Kennedy Ventures plc ("Kennedy Ventures" or the "Company"),  the AIM listed investing company, which is focussed on tantalite production through its stake in African Tantalum (Pty) Limited ("Aftan"), which owns and manages the Tantalite Valley Mine ("TVM") in Namibia, announces that at the General Meeting of the Company held earlier today, all resolutions were duly passed.

As a result, the Company will proceed to issue 48,833,332 ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") at a price of 3 pence per share, pursuant to the conditional placing announced on 20 July 2016.

As previously announced, Giles Clarke, Chairman of the Company, Nick Harrison, Director of the Company and Westleigh Investments Holdings Limited ("WIHL"), a company wholly owned and controlled by Giles Clarke and Nick Harrison, are all participating in the conditional placing. As a result of their participation in the placing, they will hold the following interests in the Company:

	Number of Ordinary Shares	Percentage of enlarged issued share capital
Giles Clarke	8,066,372	4.6%
Nick Harrison	7,233,038	4.1%
WIHL	10,338,095	5.9%

Settlement and dealings

Application has been made to the AIM market of the London Stock Exchange ("AIM") for a total of 48,833,332 Ordinary Shares, which rank pari passu with the Company's existing issued Ordinary Shares, to be admitted to trading on AIM. Dealings on AIM are expected to commence at 8:00 a.m. on 5 August 2016 ("Admission").

Total Voting Rights

For the purposes of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules ("DTRs"), following Admission the issued ordinary share capital of Kennedy Ventures will consist of 175,128,204 Ordinary Shares with voting rights attached. The Company does not hold any shares in treasury.  This figure of 175,128,204 may be used by the Company's shareholders as the denominator for the calculation by which they will determine whether they are required to notify their interest in, or a change to their interest in the share capital of Kennedy Ventures under the DTRs.

For further information on the Company, visit: www.kvplc.com, or contact:

Kennedy Ventures plc
Peter Hibberd (CEO), c/o Gordon Poole	Tel: [phone]
Grant Thornton UK LLP (Nominated Adviser) Colin Aaronson / Richard Tonthat / Daniel Bush	Tel: [phone]
Shore Capital (Broker) Mark Percy / Toby Gibbs (corporate finance) Jerry Keen (corporate broking)	Tel: [phone]
Camarco (PR) Gordon Poole / Billy Clegg / Sean Blundell	Tel: [phone]

The information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulation (EU) No 596/2014.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	1.    Giles Clarke 2.    Nick Harrison 3.    Westleigh Investments Holdings Limited
2	Reason for the notification
a)	Position/status	1.    Chairman 2.    Director 3.    Entity wholly owned and controlled by Giles Clarke and Nick Harrison
b)	Initial notification /Amendment	1.    Initial notification 2.    Initial notification 3.    Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Kennedy Ventures Plc
b)	LEI	N/A
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 Identification code	Ordinary shares of 1 pence each ISIN: GB00B830HW33
b)	Nature of the transaction	Subscription for ordinary shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 1.    3p 1,666,667 2.    3p 833,333 3.    3p 833,333
d)	Aggregated information - Aggregated volume - Price	1.    Aggregated Volume: 1,666,667 ordinary shares Aggregated Price: £50,000 2.    Aggregated Volume: 833,333 ordinary shares Aggregated Price: £25,000 3.    Aggregated Volume: 833,333 ordinary shares Aggregated Price: £25,000
e)	Date of the transaction	1.    4 August 2016 2.    4 August 2016 3.    4 August 2016
f)	Place of the transaction	N/A

 

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