Exercise of Options, Warrants & Performance Rights

Kodal Minerals PLC

16 November 2023

 

Kodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining

16 November 2023

Kodal Minerals plc

("Kodal Minerals", "Kodal" or the "Company")

Exercise of Options, Warrants and Performance Share Rights,

change to director shareholdings

and change to Total Voting Rights

Kodal Minerals, the mineral exploration and development company focused on lithium and gold assets in West Africa, announces that it has received notices of exercise for options ("Options"), warrants ("Warrants") and Performance Share Rights from certain directors, former directors, senior management and consultants of the Company to subscribe for a total of 280,833,333 new ordinary shares of 0.03125 pence each in the Company ("New Ordinary Shares") (together, the "exercise(s)"). Total subscription proceeds for the Company from these exercises is £651,833.

Application will be made for the 280,833,333 New Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on or around 22 November 2023.

Director exercises of Options and Performance Share Rights

Steven Zaninovich, Robert Wooldridge and Charles Joseland have exercised Options over, in aggregate, 92,916,666 New Ordinary Shares, as set out in the table below, which also sets out their resultant shareholdings.

In addition, the Company has received notice from Bernard Aylward to exercise his Performance Share Rights (as announced on 27 August 2021) over 70 million New Ordinary Shares at a subscription price of 0.03125 pence per share. This follows the satisfaction of the vesting condition relating to securing of finance for the construction of the Bougouni Lithium Project in Mali ("Bougouni"), as announced by the Company on 15 November 2023.  Bernard Aylward's resultant shareholding is set out in the table below.

Name	No. of New Ordinary Shares issued on exercise	Subscription amount (£)	Total No. of Ordinary Shares held following exercise	Percentage of the enlarged  share capital
Bernard Aylward	70,000,000	£21,875.00	321,364,799	1.59%
Steven Zaninovich	26,666,666	£52,000.00	33,809,513	0.17%
Robert Wooldridge	16,250,000	£59,750.00	186,223,858	0.92%
Charles Joseland	50,000,000	£160,000.00	61,250,000	0.30%

The Company has also received notice from Mohamed Niare (Country Manager, Mali) to exercise his Performance Share Rights (as announced on 27 August 2021) over 10 million New Ordinary Shares at a subscription price of 0.03125 pence per share.

Details of the exercises in which directors and PDMRs are interested are set out in the table at the end of this announcement, which has been provided in accordance with the requirements of the UK Market Abuse Regulation.

Total voting rights

Upon Admission, the issued share capital of the Company will consist of 20,241,116,260 ordinary shares of 0.01325p each.  The Company holds no shares in treasury. The total number of voting rights in the Company from Admission will therefore be 20,241,116,260. This figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in or a change to their interest in the Company under the Disclosure Guidance and Transparency Rules of the UK Financial Conduct Authority.

**ENDS**

For further information, please visit www.kodalminerals.com or contact the following:

Kodal Minerals plc Bernard Aylward, CEO	Tel: [phone]
Allenby Capital Limited, Nominated Adviser Jeremy Porter/Vivek Bhardwaj/Nick Harriss	Tel: [phone]
SP Angel Corporate Finance LLP, Financial Adviser & Joint Broker John Mackay/Adam Cowl	Tel: [phone]
Canaccord Genuity Limited, Joint Broker James Asensio/Gordon Hamilton	Tel: [phone]
Buchanan, Financial PR Bobby Morse/Oonagh Reidy	Tel: [phone] [e-mail]

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Directors: Bernard Aylward CEO Steve Zaninovich Operations Director Robert Wooldridge Chairman Charles Joseland Non-Executive Director
2	Reason for the notification
a)	Position/status	See 1 a) above
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Kodal Minerals plc
b)	LEI	213800VKFS7TS32EGI81
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 0.03125P  GB00BH3X7Y70
b)	Nature of the transaction	Exercise of Share Options Exercise of Performance Share Rights
c)	Price(s) and volume(s)	Name Options or Performance Share Rights Volume Exercise Price Bernard Aylward Performance Share Rights 70,000,000 0.03125p Steve Zaninovich Options 13,333,333 13,333,333 0.14p 0.25p Robert Wooldridge Options 6,250,000 10,000,000 0.38p 0.36p Charles Joseland Options 25,000,000 25,000,000 0.30p 0.34p
d)	Aggregated information - Aggregated volume - Price	162,916,666 Ordinary Shares £293,625.00
e)	Date of transaction	16 November 2023
f)	Place of the transaction	Outside a trading venue

 

END