KR1 plc Issue of Equity under Performance Incentive Scheme
14 July 2022 - 11:11PM
UK Regulatory
TIDMKR1
14 July 2022
KR1 plc
("KR1" or the "Company")
Issue of Equity under Performance Incentive Scheme
KR1 plc (KR1:AQSE), a leading digital asset investment company, announces that,
following the publication of the Company's audited Financial Statements for the
year ended 31 December 2021, the performance fee payable to Reflexivity
Research Limited ("Reflexivity") under the terms of the Company's Performance
Incentive Scheme (the "Scheme") has been settled.
The performance fee due to Reflexivity amounts to £30,144,241 and has been
satisfied by the allotment of 24,571,438 ordinary shares of 0.19p each in the
Company ("Ordinary Shares"). In accordance with the terms of the Scheme, the
Ordinary Shares were allotted at a price equivalent to the Company's audited
net asset value per share as at 31 December 2021, the end of the period to
which the performance fee related.
Following this allotment, Reflexivity is interested in 36,038,014 Ordinary
Shares, representing 20.3% of the Company's enlarged issued share capital.
Reflexivity is owned by George McDonaugh and Keld van Schreven, Managing
Directors of KR1, and Janos Berghorn, the Company's Head of Research. In
addition to their indirect interest in the Company through Reflexivity, George
McDonaugh and Keld van Schreven also have the following interests in Ordinary
Shares:
Executive Number of Ordinary Shares %
George McDonaugh¹ 3,226,315 1.8
Keld van Schreven² 2,714,484 1.5
¹including 200,000 Ordinary Shares held by his spouse
²including 200,000 Ordinary Shares held by his spouse
Application will be made for the Ordinary Shares to be admitted to trading on
the Apex segment of the AQSE Growth Market and admission is expected to become
effective on Wednesday, 20 July 2022.
In accordance with the Financial Conduct Authority's Disclosure and
Transparency Rules, KR1 announces that, following the issue of Ordinary Shares
referred to above, the Company now has 177,369,520 Ordinary Shares in issue,
each share carrying the right to one vote.
This figure of 177,369,520 Ordinary Shares 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 to their interest
in, the share capital of the Company under the FCA's Disclosure and
Transparency Rules.
The Directors of KR1 plc accept responsibility for this announcement.
--ENDS--
For further information please contact:
KR1 PLC +44 (0)1624 630 630
George McDonaugh
Keld van Schreven
Peterhouse Capital Limited (AQSE Corporate +44 (0)20 7469 0930
Adviser)
Mark Anwyl
FTI Consulting LLP (PR Adviser) +44 (0)7711 387 085
Laura Ewart KR1@fticonsulting.com
Gina Magnin
About KR1 plc
KR1 plc is a leading digital asset investment company supporting early-stage
decentralised and open source blockchain projects. Founded in 2016 and publicly
traded in London on the AQSE Growth Market (KR1:AQSE), KR1 has one of the
longest and most successful track records of investment in the digital assets
space by investing in decentralised platforms and protocols that are emerging
to form new financial and internet infrastructures.
www.KR1.io
Market Abuse Regulation (MAR) Disclosure
This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation EU 596/2014 as it forms part of retained EU law (as
defined in the European Union (Withdrawal) Act 2018).
Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them.
1 Details of the person discharging managerial responsibilities / person
closely associated
a) Name Reflexivity Research Limited
2 Reason for the notification
a) Position/ PCA of PDMRs
status
b) Initial Initial
notification /
Amendment
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name KR1 Plc
b) LEI 213800WFTIIBY5SBCL19
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 0.19 pence each
instrument,
type of
instrument
Identification ISIN: IM00BYYPQX37
code
b) Nature of the Performance award
transaction
c) Price(s) and 24,571,438 Ordinary Shares at 122.68p per share
volume(s)
d) Aggregated
information
- Aggregated N/A
volume
- Price
e) Date of the 13 July 2022
transaction
f) Place of the Not a market transaction
transaction
END
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