TIDMKP2
RNS Number : 2449N
Kore Potash PLC
21 September 2023
21 September 2023
Kore Potash Plc
("Kore Potash" or the "Company")
Results of General Meeting
Conversion of Convertible Loan Notes and 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 earlier
today were duly passed. The resolutions were all duly passed on a
poll by the requisite majority.
The GM was held, inter alia, to approve the issue of 31,096,000
new ordinary shares of US$0.001 each in the Company ("Ordinary
Shares") at 0.5p per Ordinary Share in line with the Company's
fundraising announcement of 8 August 2023 ("Fundraise").
Application will be made for the Ordinary Shares to be admitted to
trading which is expected to commence on or around 26 September
2023.
David Hathorn, the Chairman of Kore Potash, participated in the
Fundraise via two separate trusts, for a total of 31,096,000 New
Ordinary Shares for a total value of US$0.2 million. These shares
will, be issued under ASX listing rule 10.11.1, having received the
relevant shareholder approvals at today's GM.
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
announcement 21 August 2023.
Total voting rights
Following the issue of the 31,096,000 new Ordinary Shares, the
Company's total issued share capital will consist of 3,577,417,120
Ordinary Shares. No shares are held in treasury. Accordingly, the
total number of voting rights in the Company will be
3,577,417,120.
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 Tel: +27 84 603 6238
Brad Sampson - CEO
Tavistock Communications Tel: +44 (0) 20 7920 3150
Nick Elwes
Adam Baynes
SP Angel Corporate Finance - Nomad and Joint Broker Tel: + 44 (0) 20 7470 0470
Ewan Leggat
Charlie Bouverat
Shore Capital - Joint Broker Tel: +44 (0) 20 7408 4050
Toby Gibbs
James Thomas
Questco Corporate Advisory - JSE Sponsor Tel: +27 (11) 011 9205
Doné Hattingh
ANNEXURE A:
In respect of each resolution the total number of votes
exercisable by all validly appointed proxies was as follows:
RESOLUTION TOTAL FOR DISCRETION AGAINST VOTES WITHHELD
VOTES VALIDLY
Resolution 1 - Authority to
allot shares in connection with
the Fundraise 1,173,580,416 1,172,605,305 0 975,111 1,917,716
--------------- -------------- ----------- ---------- ---------------
Resolution 2 - Approval of securities
issue to a Director under the
Fundraising - David Hathorn as
beneficiary of the Belle Terre
and Stapleford Trusts 1,173,519,616 1,172,474,305 0 1,045,311 1,978,516
--------------- -------------- ----------- ---------- ---------------
Resolution 3 - Approval of securities
issue to SQM 635,306,613 634,329,802 0 976,811 1,981,016
--------------- -------------- ----------- ---------- ---------------
Resolution 4 - Approval of securities
issue to OIA 1,173,517,116 1,172,540,305 0 976,811 1,981,016
--------------- -------------- ----------- ---------- ---------------
Resolution 5 - Ratification
of issue of Subscription Shares 687,945,192 686,967,581 0 977,611 1,980,216
--------------- -------------- ----------- ---------- ---------------
Resolution 6 - General approval
to allot shares 1,173,517,916 1,172,474,305 0 1,043,611 1,980,216
--------------- -------------- ----------- ---------- ---------------
Resolution 7 - Disapplication
of pre-emption rights in connection
with the Fundraise 1,172,826,416 1,172,069,499 0 756,917 2,671,716
--------------- -------------- ----------- ---------- ---------------
Resolution 8 - Disapplication
of pre-emption rights for general
authority 1,172,826,416 1,172,069,499 0 756,917 2,671,716
--------------- -------------- ----------- ---------- ---------------
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 Ordinary Shares of US$0.001 each
instrument, type of
instrument
GB00BYP2QJ94
Identification code
------------------------------- --------------------------------------
b) Nature of the transaction Issue of 15,548,000 ordinary shares
of US$0.001 each.
------------------------------- --------------------------------------
c) Price(s) and volume(s) Price: 0.5 pence
Volume: 15,548,000
------------------------------- --------------------------------------
d) Aggregated information Price: 0.5 pence
Aggregated volume:15,548,000
------------------------------- --------------------------------------
e) Date of the transaction 21 September 2023
------------------------------- --------------------------------------
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 Ordinary Shares of US$0.001 each
instrument, type of
instrument
GB00BYP2QJ94
Identification code
------------------------------- --------------------------------------
b) Nature of the transaction Issue 15,548,000ordinary shares of
US$0.001 each.
------------------------------- --------------------------------------
c) Price(s) and volume(s) Price: 0.5 pence
Volume: 15,548,000
------------------------------- --------------------------------------
d) Aggregated information Price: 0.5 pence
Aggregated volume: 15,548,000
------------------------------- --------------------------------------
e) Date of the transaction 21 September 2023
------------------------------- --------------------------------------
f) Place of the transaction London Stock Exchange
------------------------------- --------------------------------------
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END
ROMUAUARONUKUAR
(END) Dow Jones Newswires
September 21, 2023 08:00 ET (12:00 GMT)
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