Director / PDMR Shareholdings

RNS Number : 0389X

Kore Potash PLC

07 August 2018

 

Kore Potash Plc

("Kore Potash" or the "Company")

DIRECTOR/PDMR SHAREHOLDING

Kore Potash announces that following shareholder approval at the AGM held on 27 June 2018, the Company has cancelled existing non-executive director performance rights ("Existing NED Performance Rights") and granted new non-executive director performance rights ("New NED Performance Rights") to David Hathorn, Jonathan Trollip, Leonard Math, David Netherway and Timothy Keating per the table below.

The New NED performance rights are a one-off award and will unconditionally vest in three equal tranches on the first, second and third anniversary of the Company's admission to AIM.  The New NED Performance Rights will expire on 22 May 2022.  The New NED Performance Rights will be issued under the Company's current Performance Rights Plan (refer to the AGM Notice of Meeting dated 1 June 2018)

Director	Number of Existing NED Performance Rights to be cancelled	Number of New NED Performance Rights to be granted
David Hathorn	11,000,000	1,500,000
Jonathan Trollip	2,000,000	750,000
Leonard Math	1,000,000	750,000
David Netherway	Nil	750,000
Timothy Keating	Nil	750,000

In addition, shareholders approved the grant of 4,000,000 options to David Hathorn and 17,200,000 options to Brad Sampson at the AGM on 27 June 2018.  The Options will have an exercise price of £0.11 per Option and each Option will entitle the holder, on exercise, to one Share.

The Options issued to Mr Sampson will expire on the tenth anniversary of the date of grant.  The Options issued to Mr Hathorn will expire on the second anniversary of the date of grant (unless extended at the discretion of the Board by no more than 12 months).  The vesting conditions for the Options will include milestones being achieved in relation to the Kola Project.

Shares issued on exercise of any Options will rank pari passu with the other Shares.  An Option may only be exercised after that Option has vested, after any conditions associated with the exercise of the Option are satisfied and before its expiry date.  The Options will be issued under the Company's current Directors 2018 Share Option Plan (refer to the AGM Notice of Meeting dated 1 June 2018).

Notification of transaction by Person Discharging Managerial Responsibilities ("PDMR")

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	David Hathorn
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Kore Potash Plc
b)	LEI	213800NWX7EHG4UVC107
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 share of US$0.001 each
	Identification code	GB00BYP2QJ94
b)	Nature of the transaction	Grant of Performance Rights
c)	Price(s) and volume(s)	Price: US$0.001 Volume:  1,500,000
d)	Aggregated information	Aggregated volume: N/A Price: N/A
e)	Date of the transaction	27 June 2018
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Jonathan Trollip
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Kore Potash Plc
b)	LEI	213800NWX7EHG4UVC107
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 share of US$0.001 each
	Identification code	GB00BYP2QJ94
b)	Nature of the transaction	Grant of Performance Rights
c)	Price(s) and volume(s)	Price: US$0.001 Volume:  750,000
d)	Aggregated information	Aggregated volume: N/A Price: N/A
e)	Date of the transaction	27 June 2018
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Leonard Math
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Kore Potash Plc
b)	LEI	213800NWX7EHG4UVC107
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 share of US$0.001 each
	Identification code	GB00BYP2QJ94
b)	Nature of the transaction	Grant of Performance Rights
c)	Price(s) and volume(s)	Price: US$0.001 Volume:  750,000
d)	Aggregated information	Aggregated volume: N/A Price: N/A
e)	Date of the transaction	27 June 2018
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	David Netherway
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Kore Potash Plc
b)	LEI	213800NWX7EHG4UVC107
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 share of US$0.001 each
	Identification code	GB00BYP2QJ94
b)	Nature of the transaction	Grant of Performance Rights
c)	Price(s) and volume(s)	Price: US$0.001 Volume:  750,000
d)	Aggregated information	Aggregated volume: N/A Price: N/A
e)	Date of the transaction	27 June 2018
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Timothy Keating
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Kore Potash Plc
b)	LEI	213800NWX7EHG4UVC107
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 share of US$0.001 each
	Identification code	GB00BYP2QJ94
b)	Nature of the transaction	Grant of Performance Rights
c)	Price(s) and volume(s)	Price: US$0.001 Volume:  750,000
d)	Aggregated information	Aggregated volume: N/A Price: N/A
e)	Date of the transaction	27 June 2018
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	David Hathorn
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Kore Potash Plc
b)	LEI	213800NWX7EHG4UVC107
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 share of US$0.001 each
	Identification code	GB00BYP2QJ94
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Exercise Price: £0.11 Volume:  4,000,000
d)	Aggregated information	Aggregated volume: N/A Price: N/A
e)	Date of the transaction	27 June 2018
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Brad Sampson
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Kore Potash Plc
b)	LEI	213800NWX7EHG4UVC107
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 share of US$0.001 each
	Identification code	GB00BYP2QJ94
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Exercise Price: £0.11 Volume:  17,200,000
d)	Aggregated information	Aggregated volume: N/A Price: N/A
e)	Date of the transaction	27 June 2018
f)	Place of the transaction	Outside a trading venue

 

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