REG - Kore Potash PLC - Results of General Meeting & Issue of Shares

Kore PotashAnnouncement

14/05/2024 09:00

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RNS Number : 3313O  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 (http://www.korepotash.com/) or
contact:

 Kore Potash                                                     Tel: +44 (0) 20 3963 1776

 David Hathorn - Chairman

 Andre Baya, CEO
 Tavistock Communications                                        Tel: +44 (0) 20 7920 3150

 Nick Elwes Adam Baynes
 SP Angel Corporate Finance- Nomad and Joint Broker Ewan Leggat  Tel: +44 (0) 20 7470 0470

 Charlie Bouverat

 Kasia Brzozowska
 Shore Capital- Joint Broker Toby Gibbs                          Tel: +44 (0) 20 7408 4050

 James Thomas
 Questco Corporate Advisory- JSE Sponsor Doné Hattingh           Tel: +27 (11) 011 9205

ANNEXURE A:

 

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

 

 

                                                                                TOTAL VOTES VALIDLY                                        VOTES WITHHELD

 RESOLUTION                                                                                          FOR            DISCRETION   AGAINST
 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 -  1,443,886,356        1,443,127,642  0            758,714   917,385
 David Hathorn as beneficiary of the Belle Terre and Stapleford Trusts

 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     1,442,204,157        1,441,528,907  0            675,250   2,599,584
 Fundraise

 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  Ordinary Shares of US$0.001 each

     Identification code

                                                                  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  Ordinary Shares of US$0.001 each

     Identification code

                                                                  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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