Change in Director Holdings and Grant of Options

Keras Resources

27/05/2021 17:43

RNS Number : 1043A

Keras Resources PLC

27 May 2021

 

 

Keras Resources plc / Index: AIM / Epic: KRS / Sector: Mining

27 May 2021

Keras Resources plc ('Keras' or the 'Company')

Change in Director Holdings and Grant of Options

 

Keras Resources Plc was notified on 24 May 2021 that Mr Russell Lamming, Chief Executive Officer of the Company, having conducted a reconciliation and restructuring of his shareholding in the Company, currently holds a total of 398,003,510 ordinary shares of 0.1p each in the Company ("Ordinary Shares") rather than the 397,003,509 as stated in the RNS released 18 January 2021. Mr Lamming confirms that this change was due to a clerical error. 

 

As part of the restructuring Mr Lamming has advised that that the registered owners of the total shares disclosed previously as being held by Russell Lamming has been changed without any change in his aggregate disclosable holdings stated above, as listed in the table below.  The transaction by Russell Lamming (CEO), his spouse, Joanne Lamming and Parallel Resources Limited, a company wholly owned by Mr Lamming and Mrs Lamming are listed in the Appendix. The dealings were conducted for the purposes of tax planning and Mr Lamming's total beneficial interest before and after the re-structuring of his interest was 398,003,510 Ordinary Shares, representing 6.33% of the current issued Ordinary Share capital.

 

As at 27 May 2021, Mr Lamming's total beneficial interest in the Ordinary Share capital of the Company was held as follows:

Legal name of holder
Number of Ordinary Shares
% of Ordinary Share capital
WB Nominees ISAMAX
96,970,000
1.54%
WB Nominees
158,787,570
2.53%
Pershing Securities
142,245,940
2.26%
Total
398,003,510
6.33%

 

As part of the Company's progression to full commercial operations it has further bolstered its management team and have today awarded options over 15,000,000 new ordinary shares of the Company, further details of which are set out below.  These options are exercisable within 3 years of the vesting dates.

 

Share Option Vesting Dates
17/05/2022
17/05/2023
17/05/2024
Number of shares
5,000,000
5,000,000
5,000,000
Exercise price * (GBP)
0.1210p
0.1210p
0.1210p

* 5 -day volume weighted price ('VWAP') close of business on 14 May 2021

 

 

 

 

 

**ENDS**

 

For further information please visit www.kerasplc.com, follow us on Twitter @kerasplc or contact the following:

 

Russell Lamming
Keras Resources plc
info@kerasplc.com
Nominated Adviser & Joint Broker
Ewan Leggat / Charlie Bouverat
Joint Broker
Damon Heath / Erik Woolgar
SP Angel Corporate Finance LLP
Shard Capital Partners LLP
+44 (0) 20 3470 0470
+44 (0) 207 186 9900
Financial PR
Susie Geliher / Cosima Akerman
St Brides Partners Ltd
+44 (0) 20 7236 1177

 

 

Appendix

 

1.
Details of the person discharging managerial responsibilities/person closely associated
a)
Name:
Russell Lamming
2.
Reason for the notification
a)
Position/status:
Chief Executive Officer
b)
Initial notification/amendment:
Initial notification
3.
Details of theissuer emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name:
Keras Resources plc
b)
LEI:
213800OZFKFM2N4R4F47
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:
Identification code:
Ordinary shares of 0.01 pence each
ISIN: GB00B649J414
b)
Nature of the transaction:
Sale of Shares
c)
Price(s) and volume(s):
Prices(s)
Volume(s)
1.
0.1100p
45,580,000
2.
0.1210p
32,000,000
3.
0.1110p
1,570,000
4.
0.1100p
72,680,000
d)
Aggregated information:
Aggregated volume:
Price:
Multiple transactions as in 4 c) above
151,830,000
0.112p
e)
Date of transaction:
1. 06/04/2021
2. 13/04/2021
3. 26/04/2021
4. 05/05/2021
f)
Place of transaction
XLON

 

1.
Details of the person discharging managerial responsibilities/person closely associated
a)
Name:
Russell Lamming
2.
Reason for the notification
a)
Position/status:
Chief Executive Officer
b)
Initial notification/amendment:
Initial notification
3.
Details of theissuer emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name:
Keras Resources plc
b)
LEI:
213800OZFKFM2N4R4F47
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:
Identification code:
Ordinary shares of 0.01 pence each
ISIN: GB00B649J414
b)
Nature of the transaction:
Purchase of Shares through ISA
c)
Price(s) and volume(s):
Prices(s)
Volume(s)
1.
0.1101p
18,000,000
2.
0.1101p
13,700,000
3.
0.1211p
16,000,000
4.
0.1139p
900,000
d)
Aggregated information:
Aggregated volume:
Price:
Multiple transactions as in 4 c) above
48,600,000
0.114p
e)
Date of transaction:
1. 04/02/2021
2. 12/02/2021
3. 13/04/2021
4. 26/04/2021
f)
Place of transaction
XLON

 

1.
Details of the person discharging managerial responsibilities/person closely associated
a)
Name:
Russell Lamming
2.
Reason for the notification
a)
Position/status:
Chief Executive Officer
b)
Initial notification/amendment:
Initial notification
3.
Details of theissuer emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name:
Keras Resources plc
b)
LEI:
213800OZFKFM2N4R4F47
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:
Identification code:
Ordinary shares of 0.01 pence each
ISIN: GB00B649J414
b)
Nature of the transaction:
Purchase of Shares through SIPP
c)
Price(s) and volume(s):
Prices(s)
Volume(s)
1.
0.1100p
34,782,970
2.
0.1100p
36,340,000
d)
Aggregated information:
Aggregated volume:
Price:
Multiple transactions as in 4 c) above
71,122,970
0.1100p
e)
Date of transaction:
1. 06/04/2021
2. 05/05/2021
f)
Place of transaction
XLON

 

Joanne Lamming

 

1.
Details of the person discharging managerial responsibilities/person closely associated
a)
Name:
Joanne Lamming
2.
Reason for the notification
a)
Position/status:
PCA of Russell Lamming
b)
Initial notification/amendment:
Initial notification
3.
Details of theissuer emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name:
Keras Resources plc
b)
LEI:
213800OZFKFM2N4R4F47
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:
Identification code:
Ordinary shares of 0.01 pence each
ISIN: GB00B649J414
b)
Nature of the transaction:
Purchase of Shares through ISA
c)
Price(s) and volume(s):
Prices(s)
Volume(s)
1.
0.1101p
18,000,000
2.
0.1101p
13,700,000
3.
0.1211p
16,000,000
4.
0.1139p
670,000
d)
Aggregated information:
Aggregated volume:
Price:
Multiple transactions as in 4 c) above
48,370,000
0.114p
e)
Date of transaction:
1. 04/02/2021
2. 12/02/2021
3. 13/04/2021
4. 26/04/2021
f)
Place of transaction
XLON

 

1.
Details of the person discharging managerial responsibilities/person closely associated
a)
Name:
Joanne Lamming
2.
Reason for the notification
a)
Position/status:
PCA of Russell Lamming
b)
Initial notification/amendment:
Initial notification
3.
Details of theissuer emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name:
Keras Resources plc
b)
LEI:
213800OZFKFM2N4R4F47
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:
Identification code:
Ordinary shares of 0.01 pence each
ISIN: GB00B649J414
b)
Nature of the transaction:
Purchase of Shares through SIPP
c)
Price(s) and volume(s):
Prices(s)
Volume(s)
1.
0.1100p
34,782,970
2.
0.1100p
36,340,000
d)
Aggregated information:
Aggregated volume:
Price:
Multiple transactions as in 4 c) above
71,122,970
0.1100p
e)
Date of transaction:
1. 06/04/2021
2. 05/05/2021
f)
Place of transaction
XLON

 

 

Parallel Resources Limited

 

1.
Details of the person discharging managerial responsibilities/person closely associated
a)
Name:
Parallel Resources Limited
2.
Reason for the notification
a)
Position/status:
A Company wholly owned by Mr Lamming and his spouse
b)
Initial notification/amendment:
Initial notification
3.
Details of theissuer emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name:
Keras Resources plc
b)
LEI:
213800OZFKFM2N4R4F47
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:
Identification code:
Ordinary shares of 0.01 pence each
ISIN: GB00B649J414
b)
Nature of the transaction:
Sale of Shares
c)
Price(s) and volume(s):
Prices(s)
Volume(s)
1.
0.1100p
39,200,000
2.
0.1100p
27,400,000
3.
0.1100p
23,985,940
d)
Aggregated information:
Aggregated volume:
Price:
Multiple transactions as in 4 c) above
90,585,940
0.1100p
e)
Date of transaction:
1. 04/02/2021
2. 12/02/2021
3. 06/04/2021
f)
Place of transaction
XLON

 

 

1.
Details of the person discharging managerial responsibilities/person closely associated
a)
Name:
Parallel Resources Limited
2.
Reason for the notification
a)
Position/status:
A Company wholly owned by Mr Lamming and his spouse
b)
Initial notification/amendment:
Initial notification
3.
Details of theissuer emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name:
Keras Resources plc
b)
LEI:
213800OZFKFM2N4R4F47
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:
Identification code:
Ordinary shares of 0.01 pence each
ISIN: GB00B649J414
b)
Nature of the transaction:
Purchase of Shares
c)
Price(s) and volume(s):
Prices(s)
Volume(s)
1.
0.1101p
3,200,000
d)
Aggregated information:
Single transaction as in 4 c) above
Prices(s)
Volume(s)
1.
0.1101p
3,200,000
e)
Date of transaction:
04/02/2021
f)
Place of transaction
XLON

 

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