ASX Cleansing Announcement

RNS Number : 4353V

Kore Potash PLC

14 April 2021

 

14 April 2021

Kore Potash Plc

("Kore Potash" or the "Company")

ASX Cleansing Announcement

This announcement has been lodged in accordance with Australian law.

Kore Potash plc, the potash development company whose flagship asset is the 97%-owned Sintoukola Potash Project, (Company) refers to its ASX announcement dated 9 April 2021 titled "Results of Proposed Fundraise" in relation to the issue of 363,165,226 new ordinary shares (Shares) in the capital of the Company (equivalent to 363,165,226 CHESS Depositary Interests (CDIs)) to certain eligible existing and new investors at £0.011 (equivalent to A$0.02) per Share to raise approximately US$5.5 million under the first tranche of the placement announced to ASX on 8 April 2021 (Placement Shares).  The Placement Shares were admitted to trading on 14 April 2021.

The Company also issued 2,353,296 Shares (equivalent to 2,353,296 CDIs), comprising 1,103,296 Shares issued to certain Non-Executive Directors in lieu of cash fees (Director Remuneration Shares) and 1,250,000 Shares following unconditional vesting on 29 March 2021 of certain performance rights (Performance Rights Shares). The Director Remuneration Shares and Performance Rights Shares were issued on 9 April 2021.

The Placement Shares, as well as the Director Remuneration Shares and the Performance Rights Shares, rank equally with the Company's existing ordinary shares on issue.  On conversion of any of these Shares to CDIs, those CDIs will rank equally with all other CDIs on issue.

The Company gives notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) as modified by ASIC Class Order 14/827 (Corporations Act) that:

· the Placement Shares, the Director Remuneration Shares and the Performance Right Shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act;

· as at the date of this notice, the Company has complied with:

-  section 601CK of the Corporations Act, as it applies to the Company; and

-  section 674 of the Corporations Act; and

· as at the date of this notice, there is no "excluded information" within the meaning of sections 708A(7) and 708A(8) of the Corporations Act which is required to be disclosed under section 708A(6)(e) of the Corporations Act.

Authorised for release by the Board of Directors.

ENDS

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

Kore Potash Brad Sampson - CEO		Tel: [phone]
Canaccord Genuity - Nomad and Joint Broker Henry Fitzgerald-O'Connor James Asensio Angelos Vlatakis		Tel:[phone]
Tavistock Communications Jos Simson Edward Lee		Tel: [phone]
Shore Capital  - Joint Broker Jerry Keen Toby Gibbs James Thomas		Tel: [phone]
Questco Corporate Advisory - JSE Sponsor Mandy Ramsden		Tel: [phone]

 

END

 

 

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