REG - Keras Resources PLC - Issue of New Shares

Keras ResourcesAnnouncement

07/04/2025 15:45

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RNS Number : 9796D  Keras Resources PLC  07 April 2025

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

 

7 April 2025

 

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

 

Issue of New Shares

 

Keras Resources plc (AIM: KRS) announces that it has issued 1,278,515 new
ordinary shares of 1p each ("Ordinary Shares") in the Company at a price of
1.4861 pence per new Ordinary Share, representing the 5-day trailing Volume
Weighted Average Price ("VWAP") ending on 4 April 2025, in lieu of payment of
£15,000 and £4,000 for professional advisory services to SP Angel Corporate
Finance LLP and Shard Capital Partners LLP respectively.

In addition, the Company has issued Ordinary Shares to directors of the
Company as follows:

·      1,816,836 new Ordinary Shares at a price of 1.4861 pence per new
Ordinary Share to Russell Lamming in lieu of payment of £27,000 of
outstanding fees; and

·    523,383 new Ordinary Shares at a price of 1.4861 pence per new
Ordinary Share to Brian Moritz in respect of £7,728 liabilities of the
Company settled personally by him.

 

Application has been made for the 3,618,734 new Ordinary Shares to be admitted
to trading on AIM which is expected to occur on or around 11 April 2025.
Following Admission, the Company's issued share capital will comprise
99,015,911 Ordinary Shares with voting rights. This figure of 99,015,911
Ordinary Shares 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 Disclosure Rules and Transparency Rules of the United
Kingdom Financial Conduct Authority.

 

Related Party Transactions

Russell Lamming and Brian Moritz are Related Parties of the Company as defined
under the AIM Rules, and the issue of new Ordinary Shares to them as set out
above is therefore deemed to be Related Party Transactions pursuant to AIM
Rule 13 of the AIM Rules for Companies.

 

The Director of the Company independent of the share issues, being Claire
Parry, considers, having consulted with the Company's Nominated Adviser, SP
Angel Corporate Finance LLP, that the proposed terms of the issue are fair and
reasonable insofar as the Company's Shareholders are concerned.

 

Following admission of the new Ordinary Shares, the beneficial interests of
the Directors in the issued Ordinary Shares will be as follows:

 

 Director         Interest in Ordinary Shares following Admission  % interest in Ordinary Shares following Admission

 Russell Lamming  6,428,681                                        6.49
 Brian Moritz     2,649,204                                        2.68

 Total            9,077,885                                        9.07

 

See the Appendix below for further information on dealings by persons
discharging managerial responsibilities.

 

 

 

 

**ENDS**

 

For further information please visit www.kerasplc.com
(http://www.kerasplc.com/) , follow us on X (formerly Twitter) @kerasplc or
contact the following:

 

 Russell Lamming                       Keras Resources plc             info@kerasplc.com (mailto:info@kerasplc.com)

 Nominated Adviser & Joint Broker      SP Angel Corporate Finance LLP  +44 (0) 20 3470 0470

 Ewan Leggat / Jen Clarke

 Joint Broker                          Shard Capital Partners LLP      +44 (0) 207 186 9900

 Damon Heath / Erik Woolgar

 

Notes:

Keras Resources (AIM: KRS) wholly owns the Diamond Creek organic phosphate
mine in Utah, US. Diamond Creek is one of the highest-grade organic
phosphate deposits in the US and is a fully integrated mine to market
operation with in-house mining and processing facilities. The operation
produces a variety of organic phosphate products that can be tailored to
customer organic fertiliser requirements.

 

The Company is focused on continuing to build market share through its
traditional milled dry rock products as well as its joint venture with Phosul
LLC in the fast-growing US organic fertiliser market and build Falcon Isle
Resources into the premier organic phosphate producer in the US.

 

Appendix

 

 1.  Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name:                                                         1.     Russell Lamming

                                                                   2.     Brian Moritz

 2.  Reason for the notification
 a)  Position/status:                                              1.     Chairman

                                                                   2.     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:                                                         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:  Ordinary shares of 1 pence each

     Identification code:                                          ISIN:    GB00BMY2T534

 b)  Nature of the transaction:                                    1.     Issue of Shares in lieu of fees

                                                                   2.     Issue of Shares in respect of Company liabilities settled
                                                                   personally

 c)  Price(s) and volume(s):

      Prices(s)     Volume(s)
                                                                   1.          1.4861 pence  1,816,836

                                                             2.          1.4861 pence  523,383

 d)  Aggregated information:

      Prices(s)     Volume(s)
                                                                   1.          1.4861 pence  1,816,836

                                                             2.          1.4861 pence  523,383
     Aggregated volume:

     Price:
 e)  Date of transaction:                                          7 April 2025

 f)  Place of transaction                                          London Stock Exchange, AIM

d)

Aggregated information:

 

Aggregated volume:

 

Price:

 

             Prices(s)     Volume(s)
 1.          1.4861 pence  1,816,836
 2.          1.4861 pence  523,383

e)

Date of transaction:

7 April 2025

 

f)

Place of transaction

London Stock Exchange, AIM

 

 

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