Results of General Meeting & Issue of Shares

Kore Potash PLC

14 May 2024

 

14 May 2024

Kore Potash Plc

("Kore Potash" or the "Company")

Results of General Meeting

Issue of Shares

Kore Potash plc, the potash development company with 97% ownership of the Kola and DX Potash Projects in the Sintoukola Basin, located in the Republic of Congo, is pleased to announce that the resolutions put to its General Meeting ("GM") held yesterday, 13 May 2024, were all duly passed on a poll by the requisite majority.

The GM was held, inter alia, to approve the issue of 31,093,883 new ordinary shares of US$0.001 each in the Company ("Ordinary Shares") at 0.38p per Ordinary Share in line with the Company's fundraising announcements of 22 and 28 March 2024 ("Fundraise"). Application has been made for the 31,093,883 Ordinary Shares to be admitted to trading, which is expected to commence on or around 16 May 2024, ("Admission").

David Hathorn, the Chairman of Kore Potash, participated in the Fundraise for a total of 31,093,883 New Ordinary Shares for a total value of US$150,000 via two separate trusts, the Belle Terre Trust and Stapleford Trust. These shares will be issued under ASX listing rule 10.11.1, having received the relevant shareholder approvals at yesterday's GM.

On Admission, David Hathorn will hold a beneficial interest in 368,801,944 Ordinary Shares representing 8.66 per cent of the issued share capital of the Company.

The following statistics, as detailed in the attached Annexure A, are provided in respect of each resolution on the Agenda of Kore Potash plc's GM. Those defined terms not defined within this announcement will have the same meaning as that set in the announcements dated 22 and 28 March 2024.

Total voting rights

Following the issue and Admission of the 31,093,883 new Ordinary Shares, the Company's total issued share capital will consist of 4,260,626,056 Ordinary Shares. No shares are held in treasury. Accordingly, the total number of voting rights in the Company will be 4,260,626,056.

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

Market Abuse Regulation

Market Abuse Regulation (MAR) Disclosure The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

The Company will also lodge an Appendix 3G - Notification of issue, conversion or payment up of equity

+securities and Appendix 3Y - Change of Director's Interest Notice, with the ASX notifying of the issues.

This announcement has been approved for release by the Board. For further information, please visit www.korepotash.com or contact:

Kore Potash David Hathorn - Chairman Andre Baya, CEO	Tel: [phone]
Tavistock Communications Nick Elwes Adam Baynes	Tel: [phone]
SP Angel Corporate Finance- Nomad and Joint Broker Ewan Leggat Charlie Bouverat Kasia Brzozowska	Tel: [phone]
Shore Capital- Joint Broker Toby Gibbs James Thomas	Tel: [phone]
Questco Corporate Advisory- JSE Sponsor Doné Hattingh	Tel: [phone]

ANNEXURE A:

In respect of each resolution the total number of votes exercisable by all validly appointed proxies was as follows:

RESOLUTION	TOTAL VOTES VALIDLY	FOR	DISCRETION	AGAINST	VOTES WITHHELD
Resolution 1 - Authority to allot shares in connection with the Fundraise	1,443,882,656	1,443,363,656	0	519,000	921,085
Resolution 2 - Approval of securities issue to Director under the Fundraise - David Hathorn as beneficiary of the Belle Terre and Stapleford Trusts	1,443,886,356	1,443,127,642	0	758,714	917,385
Resolution 3 - Ratification of issue of Unconditional Subscription Shares	661,381,437	660,652,437	0	729,000	931,085
Resolution 4 - General approval to allot shares	1,443,885,156	1,443,102,692	0	782,464	918,585
Resolution 5 - Disapplication of pre-emption rights in connection with the Fundraise	1,442,204,157	1,441,528,907	0	675,250	2,599,584
Resolution 6 - Disapplication of pre-emption rights for general authority	1,442,204,157	1,441,558,907	0	645,250	2,599,584

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

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Belle Terre Trust
2	Reason for the notification
a)	Position/status	A Trust closely associated with David Hathorn, Chairman and PDMR
b)	Initial notification/Amendment
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 Identification code	Ordinary Shares of US$0.001 each GB00BYP2QJ94
b)	Nature of the transaction	Issue of 15,546,942 ordinary shares of US$0.001 each.
c)	Price(s) and volume(s)	Price: 0.38 pence Volume: 15,546,942
d)	Aggregated information	Price: 0.38 pence Aggregated volume: 15,546,942
e)	Date of the transaction	13 May 2024
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Stapleford Trust
2	Reason for the notification
a)	Position/status	A Trust closely associated with David Hathorn, Chairman and 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 Identification code	Ordinary Shares of US$0.001 each GB00BYP2QJ94
b)	Nature of the transaction	Issue 15,546,941 ordinary shares of US$0.001 each.
c)	Price(s) and volume(s)	Price: 0.38 pence Volume: 15,546,941
d)	Aggregated information	Price: 0.38 pence Aggregated volume: 15,546,941
e)	Date of the transaction	13 May 2024
f)	Place of the transaction	London Stock Exchange

 

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