REG - Kodal Minerals PLC - Exercise of Options and Performance Share Rights

Kodal MineralsAnnouncement

29/01/2026 07:02

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260129:nRSc8156Qa&default-theme=true

RNS Number : 8156Q  Kodal Minerals PLC  29 January 2026

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")

 

Kodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining

 

Kodal Minerals plc

("Kodal Minerals", "Kodal" or the "Company")

 

29 January 2026

 

Exercise of Options and Performance Share Rights,

change to director shareholding

and change to Total Voting Rights

 

Kodal Minerals (AIM: KOD), the West African lithium producer, mineral
exploration and development company, announces that it has received notices of
exercise for options ("Options") and Performance Share Rights from Bernard
Aylward, Chief Executive Officer, and Mohamed Niare, Country Manager - Mali
and Cote d'Ivoire for the Company.  The notices relate to the subscription
for a total of 92,500,000 new ordinary shares of 0.03125 pence each in the
Company ("Ordinary Shares") (together, the "exercise(s)") with total
subscription proceeds for the Company from the exercises representing
£49,062.50.

 

Bernard Aylward is subscribing for 75,000,000 new Ordinary Shares at a
subscription price of 0.03125 pence per new Ordinary Share through exercising
his Performance Share Rights. Mohammed Niare is subscribing for 10,000,000 new
Ordinary Shares at a subscription price of 0.03125 pence per new Ordinary
Share through exercising his Performance Share Rights as well as exercising
his Options over 7,500,000 new Ordinary Shares at 0.3 pence per new Ordinary
Share.

 

Following the exercises, Bernard Aylward will own 416,364,799 Ordinary Shares
representing 2.04% of the Company's enlarged issued share capital on Admission
(as defined below).

 

Details of the exercises are set out in the table at the end of this
announcement, which has been provided in accordance with the requirements of
the UK Market Abuse Regulation.

 

Admission and total voting rights

 

Application will be made to the London Stock Exchange plc for the
92,500,000 new Ordinary Shares to be admitted to trading on AIM
("Admission"). It is expected that Admission will become effective and that
dealings in the new ordinary Shares will commence on AIM at 8.00 a.m. on or
around 4 February 2026.

 

Upon Admission, the issued share capital of the Company will consist of
20,373,199,594 ordinary shares of 0.01325p each.  The Company holds no
shares in treasury. The total number of voting rights in the Company from
Admission will therefore be 20,373,199,594. 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 Disclosure Guidance and Transparency Rules of the UK
Financial Conduct Authority.

 

**ENDS**

 

For further information, please visit www.kodalminerals.com
(http://www.kodalminerals.com) or contact the following:

 

 Kodal Minerals plc

 Bernard Aylward, CEO                                                  via Burson Buchanan

 Allenby Capital Limited, AIM Nominated Adviser

 Jeremy Porter/Vivek Bhardwaj                                          Tel: 020 3328 5656

 SP Angel Corporate Finance LLP, Financial Adviser & Joint Broker

 Stuart Gledhill/Adam Cowl                                             Tel: 020 3470 0470

 Canaccord Genuity Limited, Joint Broker

 James Asensio/Charlie Hammond                                         Tel: 020 7523 4680

 Peel Hunt LLP, Joint Broker

 Ross Allister/David McKeown/Georgia Langoulant                        Tel: 0207 418 8900

 Burson Buchanan, Financial PR

 Bobby Morse/Oonagh Reidy/Abigail Gilchrist                            Tel: +44 (0)20 7466 5000

                                                                       kodal@buchanancomms.co.uk

 

About Kodal Minerals

 

Kodal Minerals plc, the AIM-quoted West African lithium explorer, developer
and producer, is the co-developer of its flagship Bougouni Lithium Project in
Southern Mali alongside joint venture partner Hainan Mining, a subsidiary of
Hong Kong-listed Fosun International.

 

The Bougouni Lithium Project covers 350km² in the world-class Birimian
terrain of West Africa, located approximately 180km south of Mali's capital
Bamako. The Stage 1 Dense Media Separation ('DMS') processing plant, which
achieved first spodumene concentrate production in February 2025, has a target
output of 125ktpa Li₂O spodumene concentrate. Stage 2 Floatation plant is
expected to commence operations in 2028 with a forecast output of 230ktpa
Li₂O.

 

Bougouni is operated by Les Mines de Lithium de Bougouni SA ('LMLB'), a
subsidiary of Kodal Mining UK Limited ('KMUK') which owns the project and in
which Kodal has a 49 per cent shareholding. The company also has a number of
highly prospective gold assets in its diverse portfolio located in West
Africa.

 

For more information on Kodal, please visit kodalminerals.com
(https://kodalminerals.com/)

 

Director/PDMR UK MAR disclosures

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them.

 

 1    Details of the person discharging managerial responsibilities / person closely
      associated
 a)   Name                                                         Directors:

Bernard Aylward  CEO
 2    Reason for the notification
 a)   Position/status                                              See 1 a) above
 b)   Initial notification /Amendment                              Initial notification

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

    platform, auctioneer or auction monitor

 a)   Name                                                         Kodal Minerals plc
 b)   LEI                                                          213800VKFS7TS32EGI81
 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 0.03125p

      Identification code                                          GB00BH3X7Y70
 b)   Nature of the transaction                                    Exercise of Performance Share Rights
 c)   Price(s) and volume(s)                                       Name             Exercise            Volume      Exercise Price
                                                                   Bernard Aylward  Performance Rights  75,000,000  0.03125p
 d)   Aggregated information

      - Aggregated volume                                          75,000,000 Ordinary Shares

      - Price

                                                                   £23,437.50
 e)   Date of transaction                                          29 January 2026
 f)   Place of the transaction                                     Outside a trading venue

2

Reason for the notification

a)

Position/status

See 1 a) above

b)

 

Initial notification /Amendment

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor

a)

Name

Kodal Minerals plc

b)

LEI

213800VKFS7TS32EGI81

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 0.03125p

GB00BH3X7Y70

b)

Nature of the transaction

Exercise of Performance Share Rights

c)

Price(s) and volume(s)

 Name             Exercise            Volume      Exercise Price
 Bernard Aylward  Performance Rights  75,000,000  0.03125p

d)

Aggregated information

- Aggregated volume

- Price

 

75,000,000 Ordinary Shares

 

£23,437.50

e)

Date of transaction

29 January 2026

f)

Place of the transaction

Outside a trading venue

 

 

 

 1    Details of the person discharging managerial responsibilities / person closely
      associated
 a)   Name                                                         PDMR:

Mohamed Niare  Country Manager - Mali and Cote d'Ivoire
 2    Reason for the notification
 a)   Position/status                                              See 1 a) above
 b)   Initial notification /Amendment                              Initial notification

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

    platform, auctioneer or auction monitor

 a)   Name                                                         Kodal Minerals plc
 b)   LEI                                                          213800VKFS7TS32EGI81
 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 0.03125P

      Identification code                                          GB00BH3X7Y70
 b)   Nature of the transaction                                    Exercise of Options and Performance Share Rights
 c)   Price(s) and volume(s)                                       Name           Rights              Volume      Exercise Price
                                                                   Mohamed Niare  Performance Rights  10,000,000  0.03125p

                                                                           Options

                                                                                     7,500,000   0.3p
 d)   Aggregated information

      - Aggregated volume                                          17,500,000 Ordinary Shares

      - Price

                                                                   £25,625
 e)   Date of transaction                                          29 January 2026
 f)   Place of the transaction                                     Outside a trading venue

2

Reason for the notification

a)

Position/status

See 1 a) above

b)

 

Initial notification /Amendment

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor

a)

Name

Kodal Minerals plc

b)

LEI

213800VKFS7TS32EGI81

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 0.03125P

GB00BH3X7Y70

b)

Nature of the transaction

Exercise of Options and Performance Share Rights

c)

Price(s) and volume(s)

 Name           Rights              Volume      Exercise Price
 Mohamed Niare  Performance Rights  10,000,000  0.03125p

                Options

                                    7,500,000   0.3p

d)

Aggregated information

- Aggregated volume

- Price

 

17,500,000 Ordinary Shares

 

£25,625

e)

Date of transaction

29 January 2026

f)

Place of the transaction

Outside a trading venue

 

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  DSHDDGDBIBDDGLI



            Copyright 2019 Regulatory News Service, all rights reserved