TIDMKP2
RNS Number : 8991U
Kore Potash PLC
09 April 2021
9 April 2021
Kore Potash Plc
("Kore Potash" or the "Company")
Issue of Equity and Cancellation of Certain Performance Rights
and Options
Kore Potash plc advises that a total of 1,103,296 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 March 2021, as
approved at the General Meeting of the Company held on 18 September
2020 ("Remuneration Shares").
Additionally, the Company also confirms the issue of 1,250,000
ordinary shares due under the third and final tranche of the
Company's performance rights plan (the "Performance Rights") for
Non-Executive Directors.
Non-Executive Director shares in lieu of cash fees
The number of New Ordinary Shares issued to each Non-Executive
Director in lieu of remuneration for the quarter ended 31 March
2021 was calculated as follows:
Annual fee Quarterly Percentage GBP/USD 7 day Number
fee of Remuneration VWAP of shares
David
Hathorn US$100,000.00 US$8,333.33* 55% 1.3779 1.5994 207,973
--------------- -------------- ----------------- -------- ------- -----------
David
Netherway US$80,500.00 US$20,125.00 55% 1.3779 1.5994 502,254
--------------- -------------- ----------------- -------- ------- -----------
Jonathan
Trollip US$63,000.00 US$15,750.00 55% 1.3779 1.5994 393,069
--------------- -------------- ----------------- -------- ------- -----------
Total 1,103,296
----------------- -------- ------- -----------
* As part of the Company's on-going cost saving exercise David
Hathorn waived his remuneration for the months of February and
March 2021.
Performance rights
The Company also confirms it has issued 1,250,000 ordinary
shares to satisfy the unconditional vesting of the third and final
tranche of the Performance Rights issued to certain Non-Executive
Directors on 29 March 2021, being the third anniversary of
admission to trading on AIM. The previous two tranches were
announced on 15 April 2019 and 7 April 2020.
Consistent with the previous two tranches, the following is the
breakdown of the ordinary shares issued under the Performance
Rights:
Number of Shares Amount to be paid
David Hathorn 500,000 US$500.00
----------------- ------------------
David Netherway 250,000 US$250.00
----------------- ------------------
Jonathan Trollip 250,000 US$250.00
----------------- ------------------
Timothy Keating 250,000 US$250.00
----------------- ------------------
Total 1,250,000 US$1,250.00
----------------- ------------------
Accordingly, a total of 2,353,296 ordinary shares of US$0.001
each (being 1,103,296 ordinary shares in respect of Directors
Remuneration Shares and 1,250,000 ordinary shares in respect of
Performance Rights as detailed above) have today been issued.
Application has been made for the admission of 2,353,296 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 Wednesday 14 April 2021.
For ASX's purposes, and having previously obtained shareholder
approvals for the issues, the shares are issued under ASX Listing
Rule 10.11 (Remuneration Shares) and 10.14 (Performance Rights)
respectively.
Following this issue, the Company's issued share capital
consists of 2,454,121,469 ordinary shares. No shares are held in
treasury. Accordingly, the total number of voting rights in the
Company is 2,454,121,469.
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.
Cancellation of certain Performance Rights and Options
Following the determination by the Company that the applicable
vesting conditions within each category would not be achieved, a
total of 7,500,000 Performance Rights and Unlisted Options
previously issued have been cancelled as follows:
Number of
Securities
Performance Rights expiring 1 March 2021 (Directors)
(KP2AC) 4,500,000
------------
Unlisted Options exercisable at GBP0.022 each, expiring
on 1 January 2024 (KP2AB) 3,000,000
------------
Total 7,500,000
------------
This announcement has been approved for release by the
Board.
S
For further information, please visit www.korepotash.com or
contact:
Kore Potash Tel: +27 11 469 9140
Brad Sampson - CEO
Tavistock Communications Tel: +44 (0) 20 7920
Jos Simson 3150
Edward Lee
Canaccord Genuity - Nomad and Tel: +44 (0) 20 7523
Broker 4600
James Asensio
Henry Fitzgerald-O'Connor
Shore Capital - Joint Broker Tel: +44 (0) 20 7408
Jerry Keen 4050
Toby Gibbs
James Thomas
Questco Corporate Advisory - JSE Tel: +27 (11) 011
Sponsor 9208
Mandy Ramsden
Notification of transaction by Person Discharging Managerial
Responsibilities ("PDMR") in relation to issue of Renumeration
Shares. For the avoidance of doubt the ordinary shares being issued
under the Performance Rights was reported on 15 April 2019.
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 Ordinary Shares of US$0.001
instrument, type of instrument each
Identification code GB00BYP2QJ94
b) Nature of the transaction Issue of shares
c) Price(s) and volume(s) Price: 1.5994p
Volume: 207,973
d) Aggregated information Aggregated volume: N/A
Price: N/A
e) Date of the transaction 9 April 2021
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 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 Ordinary Shares of US$0.001
instrument, type of instrument each
Identification code GB00BYP2QJ94
b) Nature of the transaction Issue of shares
c) Price(s) and volume(s) Price: 1.5994p
Volume: 502,254
d) Aggregated information Aggregated volume: N/A
Price: N/A
e) Date of the transaction 9 April 2021
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 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 Ordinary Shares of US$0.001 each
instrument, type of instrument
Identification code GB00BYP2QJ94
b) Nature of the transaction Issue of shares
c) Price(s) and volume(s) Price:1.5994p
Volume: 393,069
d) Aggregated information Aggregated volume: N/A
Price: N/A
e) Date of the transaction 9 April 2021
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 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 Ordinary Shares of US$0.001
instrument, type of instrument each
Identification code B00BYP2QJ94
b) Nature of the transaction Conversion of Performance Rights
c) Price(s) and volume(s) Price: US$0.001
Volume: 500,000
d) Aggregated information Aggregated volume: N/A
Price: N/A
e) Date of the transaction 9 April 2021
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 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 Ordinary Shares of US$0.001 each
instrument, type of instrument
Identification code GB00BYP2QJ94
b) Nature of the transaction Conversion of Performance Rights
c) Price(s) and volume(s) Price: US$0.001
Volume: 250,000
d) Aggregated information Aggregated volume: N/A
Price: N/A
e) Date of the transaction 9 April 2021
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 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, Ordinary Shares of US$0.001
type of instrument each
Identification code GB00BYP2QJ94
b) Nature of the transaction Conversion of Performance
Rights
c) Price(s) and volume(s) Price: US$0.001
Volume: 250,000
d) Aggregated information Aggregated volume: N/A
Price: N/A
e) Date of the transaction 9 April 2021
f) Place of the transaction Outside a trading venue
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END
IOEIPMFTMTIMBAB
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