Issue of Equity

RNS Number : 2978A

Kore Potash PLC

21 January 2020

 

21 January 2020

Kore Potash Plc

("Kore Potash" or the "Company")

Issue of Equity

Kore Potash plc advises that a total of 3,811,398 ordinary shares of US$0.001 each in the Company ("New Ordinary Shares") have today been issued to certain Non-Executive Directors of the Company in lieu of cash fees for the quarter ended 31 December 2019. This is in line with the cost reduction strategy announced on 27 June 2019 and approved at the 2019 General Meeting of the Company held on 17 July 2019.

The number of New Ordinary Shares issued to each Non-Executive Director in lieu of remuneration for the quarter ended 31 December 2019 was calculated as follows:

	Annual fee	Quarterly fee	Percentage of Remuneration	GBP/USD	7 day VWAP	Number of shares
David Hathorn	US$156,000.00	US$39,000.00	100%	1.3263	1.1556	2,544,575
David Netherway	US$80,500.00	US$20,125.00	55%	1.3263	1.1556	722,186
Jonathan Trollip	US$63,000.00	US$15,750.00	53%	1.3263	1.1556	544,637
Total						3,811,398

Application has been made for the admission of 3,811,398 ordinary shares of US$0.001 each on AIM, the Johannesburg Stock Exchange and the Australian Securities Exchange with admission expected to take place on 27 January 2020.

Following this issue, the Company's issued share capital consists of 1,541,252,564 ordinary shares. No shares are held in treasury. Accordingly, the total number of voting rights in the Company is 1,541,252,564.

The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

ENDS

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

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

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	Chairman
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 Shares of US$0.001 each
	Identification code	GB00BYP2QJ94
b)	Nature of the transaction	Issue of new shares
c)	Price(s) and volume(s)	Price: 1.1556p Volume:  2,544,575
d)	Aggregated information	Aggregated volume: N/A Price: N/A
e)	Date of the transaction	21 January 2020
f)	Place of the transaction	Outside a trading venue

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

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	David Netherway
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	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 Shares of US$0.001 each
	Identification code	GB00BYP2QJ94
b)	Nature of the transaction	Issue of new shares
c)	Price(s) and volume(s)	Price: 1.1556p Volume:  722,186
d)	Aggregated information	Aggregated volume: N/A Price: N/A
e)	Date of the transaction	21 January 2020
f)	Place of the transaction	Outside a trading venue

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

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Jonathan Trollip
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	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 Shares of US$0.001 each
	Identification code	GB00BYP2QJ94
b)	Nature of the transaction	Issue of new shares
c)	Price(s) and volume(s)	Price: 1.1556p Volume:  544,637
d)	Aggregated information	Aggregated volume: N/A Price: N/A
e)	Date of the transaction	21 January 2020
f)	Place of the transaction	Outside a trading venue

 

END

 

 

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