REG - Kodal Minerals PLC - Exercise of Options, Warrants & Performance Rights

Kodal MineralsAnnouncement

16/11/2023 15:45

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RNS Number : 7392T  Kodal Minerals PLC  16 November 2023

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

 

16 November 2023

Kodal Minerals plc

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

 

Exercise of Options, Warrants and Performance Share Rights,

change to director shareholdings

and change to Total Voting Rights

 

Kodal Minerals, the mineral exploration and development company focused on
lithium and gold assets in West Africa, announces that it has received notices
of exercise for options ("Options"), warrants ("Warrants") and Performance
Share Rights from certain directors, former directors, senior management and
consultants of the Company to subscribe for a total of 280,833,333 new
ordinary shares of 0.03125 pence each in the Company ("New Ordinary Shares")
(together, the "exercise(s)"). Total subscription proceeds for the Company
from these exercises is £651,833.

 

Application will be made for the 280,833,333 New Ordinary Shares to be
admitted to trading on AIM ("Admission") and it is expected that Admission
will occur on or around 22 November 2023.

 

Director exercises of Options and Performance Share Rights

 

Steven Zaninovich, Robert Wooldridge and Charles Joseland have exercised
Options over, in aggregate, 92,916,666 New Ordinary Shares, as set out in the
table below, which also sets out their resultant shareholdings.

 

In addition, the Company has received notice from Bernard Aylward to exercise
his Performance Share Rights (as announced on 27 August 2021) over 70 million
New Ordinary Shares at a subscription price of 0.03125 pence per share. This
follows the satisfaction of the vesting condition relating to securing of
finance for the construction of the Bougouni Lithium Project in Mali
("Bougouni"), as announced by the Company on 15 November 2023.  Bernard
Aylward's resultant shareholding is set out in the table below.

 

 Name               No. of New Ordinary Shares issued on exercise  Subscription amount (£)   Total No. of Ordinary            Percentage of the enlarged

                                                                                             Shares held following exercise    share capital
 Bernard Aylward    70,000,000                                     £21,875.00                321,364,799                      1.59%

 Steven Zaninovich  26,666,666                                     £52,000.00                33,809,513                       0.17%

 Robert Wooldridge  16,250,000                                     £59,750.00                186,223,858                      0.92%

 Charles Joseland   50,000,000                                     £160,000.00               61,250,000                       0.30%

 

The Company has also received notice from Mohamed Niare (Country Manager,
Mali) to exercise his Performance Share Rights (as announced on 27 August
2021) over 10 million New Ordinary Shares at a subscription price of 0.03125
pence per share.

 

Details of the exercises in which directors and PDMRs are interested 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.

 

 

Total voting rights

 

Upon Admission, the issued share capital of the Company will consist of
20,241,116,260 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 20,241,116,260. 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
(http://www.kodalminerals) .com or contact the following:

 

 Kodal Minerals plc

 Bernard Aylward, CEO                                                  Tel: +61 418 943 345

 Allenby Capital Limited, Nominated Adviser

 Jeremy Porter/Vivek Bhardwaj/Nick Harriss                             Tel: 020 3328 5656

 SP Angel Corporate Finance LLP, Financial Adviser & Joint Broker

 John Mackay/Adam Cowl                                                 Tel: 020 3470 0470

 Canaccord Genuity Limited, Joint Broker

 James Asensio/Gordon Hamilton                                         Tel: 0207 523 4680

 Buchanan, Financial PR

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

                                                                       kodal@buchanancomms.co.uk

 

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

Bernard Aylward    CEO
                                                                   Steve Zaninovich   Operations Director
                                                                   Robert Wooldridge  Chairman
                                                                   Charles Joseland   Non-Executive Director

 

 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 Share Options

                                                                   Exercise of Performance Share Rights
 c)   Price(s) and volume(s)                                       Name               Options or Performance Share Rights  Volume       Exercise Price
                                                                   Bernard Aylward    Performance Share Rights             70,000,000   0.03125p
                                                                   Steve Zaninovich   Options                              13,333,333   0.14p

                                                                                               13,333,333   0.25p

                                                                   Robert Wooldridge  Options                              6,250,000    0.38p

                                                                                               10,000,000   0.36p

                                                                   Charles Joseland   Options                              25,000,000   0.30p

                                                                                               25,000,000   0.34p

 d)   Aggregated information

      - Aggregated volume                                          162,916,666 Ordinary Shares

      - Price

                                                                   £293,625.00
 e)   Date of transaction                                          16 November 2023
 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 Share Options

Exercise of Performance Share Rights

c)

Price(s) and volume(s)

 Name               Options or Performance Share Rights  Volume       Exercise Price
 Bernard Aylward    Performance Share Rights             70,000,000   0.03125p
 Steve Zaninovich   Options                              13,333,333   0.14p

                                                         13,333,333   0.25p

 Robert Wooldridge  Options                              6,250,000    0.38p

                                                         10,000,000   0.36p

 Charles Joseland   Options                              25,000,000   0.30p

                                                         25,000,000   0.34p

d)

Aggregated information

- Aggregated volume

- Price

 

162,916,666 Ordinary Shares

 

£293,625.00

e)

Date of transaction

16 November 2023

f)

Place of the transaction

Outside a trading venue

 

 

 

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