REG - Katoro Gold PLC - Settlement of Director Fees

Katoro GoldAnnouncement

21/02/2024 07:00

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RNS Number : 8183D  Katoro Gold PLC  21 February 2024

 

 

Katoro Gold plc (Incorporated in England and Wales)

(Registration Number: 9306219)

Share code on AIM: KAT

ISIN: GB00BSNBL022

('Katoro' or 'the Company')

 

Dated: 21 February 2024

Katoro Gold PLC ('Katoro' or the 'Company')

 

Settlement of Director Fees

Issue of Equity & TVR

 

Katoro Gold PLC (AIM: KAT), the strategic and precious minerals exploration
and development company, announces the settlement of the outstanding director
fees has been agreed through an issue of locked-in equity.

Louis Scheepers, Non-executive Director has agreed with the Company to settle
in full all outstanding director fees on the same basis as that outlined for
Louis Coetzee and Lukas Marthinus ("Tinus") Maree in the Company announcement
on 12 February 2024, which may be viewed through the link below:

https://polaris.brighterir.com/public/katoro_gold/news/rns/story/xljg7pr
(https://polaris.brighterir.com/public/katoro_gold/news/rns/story/xljg7pr)

Mr Scheepers previously agreed to voluntarily reduce his outstanding board
fees from £27,000, due for the period April 2023 to January 2024 inclusive,
to £21,205.96 (the "Director Fees").

The Director Fees of £21,205.96 will be settled in full through the issue of
21,205,960 Katoro ordinary shares of 0.1p ("Director Shares") at the same
issue price as the financing announced on 12.2.24 of 0.1p per share. For
clarity Mr Scheepers will not receive any warrants with this settlement of
Board fees.

The Director Shares will be subject to a hard lock-in for 12 months from
today's date (with no sale of stock allowed unless approved by the new Board
of the Company after the formal appointment of two new directors).

The issue of the Director Shares is a related party transaction under the AIM
Rules (the "Transaction") and accordingly, Tinus Maree Non-executive Director
of the Company and Louis Coetzee, current Executive Chairman of the Company,
the directors independent of this Transaction, having consulted with the
Company's nominated adviser, Beaumont Cornish Limited, consider the terms of
the Transaction to be fair and reasonable insofar as shareholders are
concerned.

Following issue of the Director Shares, Mr Scheepers will hold 33,872,627
shares representing 2.12% of the then issued share capital of the Company.

Louis Scheepers is a Person Discharging Managerial Responsibility ('PDMR')
under the Market Abuse Regulation 2016 ('MAR'). In compliance with MAR and the
Company's Share Dealing Code, the PDMR has submitted dealing request forms to
the designated Company executives to seek permission in respect of this
transaction which has been granted. Dealing notification forms will be
completed by the PDMR and submitted to the FCA within three (3) days of
completion of the Transaction in accordance with MAR.  See PDMR Notification
section below for further information.

ADMISSION AND TOTAL VOTING RIGHTS

Application will be made for the 21,205,960 Director Shares to be admitted to
trading on AIM which is expected to occur on or around 27 February 2024
("Admission"). The Director Shares will rank pari passu in all respects with
the existing Ordinary Shares currently traded on AIM.

Following Admission, the Company's issued share capital will comprise
1,596,420,573 ordinary shares of 0.1 pence each. This number will represent
the total voting rights in the Company and may be used by shareholders as the
denominator for the calculation by which they can 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 and Transparency
Rules.

PDMR DISCLOSURE

The notification below, made in accordance with the requirements of the EU
Market Abuse Regulation, provide further detail on the director's share
dealing.

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name

                                                                   Louis Scheepers

 2    Reason for the notification

 a)   Position/status                                              Non-executive Director

 b)   Initial notification /Amendment

                                                                   Initial Notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name

                                                                   Katoro Gold Plc

 b)   LEI

                                                                   213800Q9L29ZXI53T558

 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 1p each

      Identification code                                          ISIN: GB00BSNBL022

 b)   Nature of the transaction

                                                                   Purchase of ordinary shares

 c)   Price(s) and volume(s)

                                                                                     Price(s)          Volume(s)
                                                                                     0.1p              21,205,960

 d)   Aggregated information

      - Aggregated volume                                          21,205,960

      - Price                                                      0.1p

 e)   Date of the transaction                                      20 February 2024

 f)   Place of the transaction                                     Off Market

 

 

This announcement contains inside information as stipulated under the Market
Abuse Regulations (EU) no. 596/2014.

**ENDS**

 

 

For further information please visit www.katorogold.com
(http://www.katorogold.com) or contact:

 

 Louis Coetzee    Info@katorogold.com (mailto:Info@katorogold.com)  Katoro Gold PLC           Executive Chairman
 James Biddle     +44 207 628 3396                                  Beaumont Cornish Limited  Nominated Adviser

 Roland Cornish
 Nick Emmerson    +44 148 341 3500                                  SI Capital Ltd            Broker

 Sam Lomanto

 

Beaumont Cornish Limited ('Beaumont Cornish') is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

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