REG - Keras Resources PLC - PDMR & PCA Dealings and Appointment of Director

Keras ResourcesAnnouncement

09/11/2021 09:20

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20211109:nRSI7922Ra&default-theme=true

RNS Number : 7922R  Keras Resources PLC  09 November 2021

 
 
9(th) November 2021

 

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

 

PDMR & PCA Dealings and Appointment of Executive Director

 

Keras Resources plc (AIM: KRS) today announces Director purchases of shares
and the appointment of Graham Stacey to the Board as Executive Director.

 

Further to the Diamond Creek update released on Friday 5 November 2021, the
Directors of Keras, Brian Moritz, Russell Lamming, and David Reeves have
purchased an additional 0.84% or 52,980,987 ordinary shares of 0.01 pence each
in the Company, ("Ordinary Shares") and their resulting shareholdings are
detailed as below.  In addition, Graham Stacey has agreed to convert £7,500
of his outstanding fees into 12,500,000 new Ordinary Shares at a price of
0.06p per Ordinary Share ("Salary Shares") taking the Board's shareholding to
23.82%.

 

Application will be made for the Salary Shares to be admitted to trading on
AIM which is expected occur on or around 15 November 2021 ("Admission").
Following Admission, there will be 6,296,073,068 Ordinary Shares in issue with
each share carrying the right to one vote.  There are no shares currently
held in treasury.  The total number of voting rights in the Company will
therefore be 6,296,073,068 and this figure may be used by shareholders as the
denominator for the calculations by which they 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 Rules and Transparency
Rules.

 

 Director         Purchase of shares on 08.11.2021  Total shares now held  % Interest in Ordinary Shares
 Brian Moritz     17,200,000                        177,582,118            2.82%
 Russell Lamming  18,180,987*                       416,184,497            6.61%
 Dave Reeves      17,600,000                        861,942,616            13.69%
 Graham Stacey    12,500,000                        43,739,000             0.69%
 Total            65,480,987**                      1,499,448,231          23.82%

*Shares were acquired by Mr Lamming's spouse.

** Including Salary Shares issued to Mr Stacey

 

Keras is also very pleased to announce that Graham Stacey has joined the Board
as Executive Director. Mr Stacey is a qualified Mining Engineer with over 25
years' experience across the resources sector and has been Chief Operating
Officer of Keras since April 2019. He is a Competent Person and Competent
Valuator as a longstanding member of the South African Institute of Mining and
Metallurgy (SAIMM), and has wide ranging experience in mine design, project
execution, operations and mineral resource management. He has been involved
with Keras for a number of years, initially overseeing the bulk sample at the
Nayéga Manganese Mine in Togo and more recently he was integral to the build
and delivery of the processing plant at the Diamond Creek phosphate mine in
the US. Mr. Stacey will continue in his position as Chief Operating Officer
and is also a Director of Keras' 100% owned subsidiary, Southern Iron Limited.

 

Russell Lamming, CEO commented, "We are delighted to welcome Graham to our
Board as he has played a significant role in the Company's key developments to
date. His in-depth knowledge of our business and broad range of expertise will
continue to be invaluable as we seek to maximise the potential of our assets
going forward.  This purchase of shares by all the Directors underlines our
ongoing commitment and support for the Company and our belief in the value
held within our asset base."

 

The information required by Rule 17 and paragraph (g) of Schedule 2 of the AIM
Rules for Companies in relation to the appointment of Graham David Stacey
 (age 48) is as follows:

 Current directorships            Past directorships held within last five years
 Tenement Mining (Pty) Ltd        N/A

 Moliwave (Pty) Ltd

 Afri Solar Solutions (Pty) Ltd

 Southern Iron Limited

 

Including the issue of Salary Shares, Mr Stacey currently holds 43,739,000
Ordinary Shares in the Company. Additionally, Mr Stacey holds the following
Options to acquire new Ordinary Shares.

                             Expiry Date
 Name        Exercise Price  17/01/20    17/01/2021  17/01/2022
 G D Stacey  GBP0.001639     10,000,000  10,000,000  10,000,000

 

 

 

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

                                                                   2.     Dave Reeves

                                                                   3.     Graham Stacey
 2.  Reason for the notification
 a)  Position/status:                                              1.     Non-executive chairman

                                                                   2.     Non-executive Director

                                                                   3.     Executive Director & Chief Operating Officer
 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 0.01 pence each

     Identification code:                                          ISIN:      GB00B649J414
 b)  Nature of the transaction:                                    1.     Purchase of Ordinary Shares

                                                                   2.     Purchase of Ordinary Shares

                                                                   3.     Issue of new Ordinary Shares in lieu of cash
 c)  Price(s) and volume(s):

      Prices(s)  Volume(s)
                                                                   1.     0.05814   17,200,000

                                                             2.    0.0568     17,600,000
                                                                   3.    0.0600     12,500,000

 
 d)  Aggregated information:                                       Multiple transactions as in 4 c) above

     Aggregated volume:                                            N/A

     Price:                                                        N/A
 e)  Date of transaction:                                           08/11/2021
 f)  Place of transaction                                          1.     XLON

                                                                   2.     XLON

                                                                   3.     Off Market

 

d)

Aggregated information:

Aggregated volume:

Price:

Multiple transactions as in 4 c) above

N/A

N/A

e)

Date of transaction:

 08/11/2021

f)

Place of transaction

1.     XLON

2.     XLON

3.     Off Market

 

 

 

 

 

 

 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 - CEO of the Company
 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 0.01 pence each

     Identification code:                                          ISIN:      GB00B649J414
 b)  Nature of the transaction:                                    Purchase of Ordinary Shares

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

      Prices(s)  Volume(s)
                                                                   1.    0.0547     18,180,987

 d)  Aggregated information:                                       N/A Single transaction as in 4 c) above

     Aggregated volume:                                            N/A

     Price:                                                        N/A
 e)  Date of transaction:                                           08/11/2021
 f)  Place of transaction                                          XLON

d)

Aggregated information:

Aggregated volume:

Price:

N/A Single transaction as in 4 c) above

N/A

N/A

e)

Date of transaction:

 08/11/2021

f)

Place of transaction

XLON

 

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 ('MAR') which has been incorporated into UK law
by the European Union (Withdrawal) Act 2018.

 

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

 

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

 Annabel Redford

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

 Ewan Leggat / Charlie Bouverat

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

 Damon Heath / Erik Woolgar

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCGCBDBUBGDGBC