REG - Kavango Resources - Grant of New Share Options

Kavango ResourcesAnnouncement

20/11/2023 07:00

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RNS Number : 9072T  Kavango Resources PLC  19 November 2023

20 November 2023

KAVANGO RESOURCES PLC

("Kavango" or "the Company")

Grant of New Share Options

PDMR Disclosures

 

Kavango Resources plc (LSE:KAV), the exploration company targeting the
discovery of world-class mineral deposits in Botswana, announces the Board has
approved the grant of 48,000,000 share options to directors and PDMRs of the
Company (the "Director Options") and 20,000,000 share options to key
consultants to the Company (the "Consultant Options").

More information on the terms of the option grants and amendments is provided
below.

The Director Options are exercisable at a price of 1.1 pence per Ordinary
Share for a period of seven years.

The Consultant Options are exercisable at a price of 1.1 pence per Ordinary
Share for a period of seven years.  The Consultant Options are subject to
phased vesting over twenty four months from the date of grant, with 2,000,000
of the Consultant Options vesting immediately, 4,000,000 vesting after twelve
months and the remainder vesting after twenty four months, subject to
continuous employment or commercial engagement with the Company.

The information below is set out in accordance with the requirements of the UK
Market Abuse Regulation.

Grant of Options

 1     Details of PDMR/person closely associated with them ("PCA")
 a)    Name                                                         a)    David Smith

                                                                    b)    Brett Grist

                                                                    c)    Jeremy S Brett

                                                                    d)    Hillary Gumbo

                                                                    e)    Ben Turney
 2     Reason for the notification
 a)    Position/status                                              a)    PDMR/Director

                                                                    b)    PDMR/Director

                                                                    c)    PDMR/Director

                                                                    d)    PDMR/Director

                                                                    e)    PDMR/Director
 b)    Initial notification /Amendment                              Initial Notification
 3     Details of the issuer, emission allowance market participant, auction

     platform, auctioneer or auction monitor

 a)    Name                                                         Kavango Resources PLC
 b)    LEI                                                          2138007PZJFATXWUTS29
 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

       Identification code                                          ISIN: GB00BF0VMV24
 b)    Nature of the transaction                                    Grant of new share options
 c)    Price(s) and volume(s)

                                                                                     Price(s) GBPX    Volume(s)
                                                                                     a)    1.1p       a)    1,500,000

                                                                                     b)    1.1p       b)    2,500,000

                                                                                     c)    1.1p       c)    2,500,000

                                                                                     d)    1.1p       d)    1,500,000

                                                                                     e)    1.1p       e)    40,000,000

 d)    Aggregated information

       -Aggregated Volume                                           N/A

       -Price
 e)    Date of the transaction                                      17 November 2023
 f)    Place of the transaction                                     Off-market

For further information, please contact:

Kavango Resources Plc

Ben Turney

+46 7697 406 06

First Equity (Broker)

Jason Robertson

+44 207 374 2212

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE
MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON
THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED
IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

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