REG - Kore Potash PLC - Results of General Meeting

Kore PotashAnnouncement

21/09/2023 13:00

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RNS Number : 2449N  Kore Potash PLC  21 September 2023

21 September 2023

Kore Potash Plc

("Kore Potash" or the "Company")

Results of General Meeting

Conversion of Convertible Loan Notes and Issue of Shares

 

Kore Potash plc, the potash development company with 97% ownership of the Kola
and DX Potash Projects in the Sintoukola Basin, located in the Republic of
Congo, is pleased to announce that the resolutions put to its General Meeting
("GM") held earlier today were duly passed. The resolutions were all duly
passed on a poll by the requisite majority.

The GM was held, inter alia, to approve the issue of 31,096,000 new ordinary
shares of US$0.001 each in the Company ("Ordinary Shares") at 0.5p per
Ordinary Share in line with the Company's fundraising announcement of 8 August
2023 ("Fundraise"). Application will be made for the Ordinary Shares to be
admitted to trading which is expected to commence on or around 26 September
2023.

David Hathorn, the Chairman of Kore Potash, participated in the Fundraise via
two separate trusts, for a total of 31,096,000 New Ordinary Shares for a total
value of US$0.2 million. These shares will, be issued under ASX listing rule
10.11.1, having received the relevant shareholder approvals at today's GM.

The following statistics, as detailed in the attached Annexure A, are provided
in respect of each resolution on the Agenda of Kore Potash plc's GM. Those
defined terms not defined within this announcement will have the same meaning
as that set in the announcement 21 August 2023.

Total voting rights

Following the issue of the 31,096,000 new Ordinary Shares, the Company's total
issued share capital will consist of 3,577,417,120 Ordinary Shares. No shares
are held in treasury. Accordingly, the total number of voting rights in the
Company will be 3,577,417,120.

The above figure 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 Financial Conduct Authority's Disclosure Guidance and
Transparency Rules.

Market Abuse Regulation

Market Abuse Regulation (MAR) Disclosure 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 which has been
incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the
publication of this announcement via Regulatory Information Service ('RIS'),
this inside information is now considered to be in the public domain.

The Company will also lodge an Appendix 3G - Notification of issue, conversion
or payment up of equity +securities and Appendix 3Y - Change of Director's
Interest Notice, with the ASX notifying of the issues.

This announcement has been approved for release by the Board. For further
information, please visit www.korepotash.com or contact:

 

 Kore Potash                                             Tel: +27 84 603 6238

 Brad Sampson - CEO

 Tavistock Communications                                Tel: +44 (0) 20 7920 3150

 Nick Elwes

 Adam Baynes

 SP Angel Corporate Finance - Nomad and Joint Broker     Tel: +44 (0) 20 7470 0470

 Ewan Leggat

 Charlie Bouverat

 Shore Capital - Joint Broker                            Tel: +44 (0) 20 7408 4050

 Toby Gibbs

 James Thomas

 Questco Corporate Advisory - JSE Sponsor                Tel: +27 (11) 011 9205

 Doné Hattingh

ANNEXURE A:

 

In respect of each resolution the total number of votes exercisable by all
validly appointed proxies was as follows:

 

 RESOLUTION                                                                     TOTAL VOTES VALIDLY  FOR            DISCRETION  AGAINST    VOTES WITHHELD

 Resolution 1 - Authority to allot shares in connection with the Fundraise      1,173,580,416        1,172,605,305  0           975,111    1,917,716
 Resolution 2 - Approval of securities issue to a Director under the            1,173,519,616        1,172,474,305  0           1,045,311  1,978,516
 Fundraising - David Hathorn as beneficiary of the Belle Terre and Stapleford
 Trusts
 Resolution 3 - Approval of securities issue to SQM                             635,306,613          634,329,802    0           976,811    1,981,016
 Resolution 4 - Approval of securities issue to OIA                             1,173,517,116        1,172,540,305  0           976,811    1,981,016
 Resolution 5 - Ratification of issue of Subscription Shares                    687,945,192          686,967,581    0           977,611    1,980,216
 Resolution 6 - General approval to allot shares                                1,173,517,916        1,172,474,305  0           1,043,611  1,980,216
 Resolution 7 - Disapplication of pre-emption rights in connection with the     1,172,826,416        1,172,069,499  0           756,917    2,671,716
 Fundraise
 Resolution 8 - Disapplication of pre-emption rights for general authority      1,172,826,416        1,172,069,499  0           756,917    2,671,716

 

 

Notification of transaction by Person Discharging Managerial Responsibilities
("PDMR")

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         Belle Terre Trust
 2   Reason for the notification
 a)  Position/status                                              A Trust closely associated with David Hathorn, Chairman and PDMR
 b)  Initial notification/Amendment
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Kore Potash Plc
 b)  LEI                                                          213800NWX7EHG4UVC107
 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 US$0.001 each

     Identification code

                                                                  GB00BYP2QJ94
 b)  Nature of the transaction                                    Issue of 15,548,000 ordinary shares of US$0.001 each.
 c)  Price(s) and volume(s)                                       Price: 0.5 pence

                                                                  Volume:  15,548,000
 d)  Aggregated information                                       Price:  0.5 pence

                                                                  Aggregated volume:15,548,000
 e)  Date of the transaction                                      21 September 2023
 f)  Place of the transaction                                     London Stock Exchange

 

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         Stapleford Trust
 2   Reason for the notification
 a)  Position/status                                              A Trust closely associated with David Hathorn, Chairman and PDMR
 b)  Initial notification/Amendment                               Initial notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Kore Potash Plc
 b)  LEI                                                          213800NWX7EHG4UVC107
 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 US$0.001 each

     Identification code

                                                                  GB00BYP2QJ94
 b)  Nature of the transaction                                    Issue 15,548,000ordinary shares of US$0.001 each.
 c)  Price(s) and volume(s)                                       Price:  0.5 pence

                                                                  Volume:  15,548,000
 d)  Aggregated information                                       Price: 0.5 pence

                                                                  Aggregated volume: 15,548,000
 e)  Date of the transaction                                      21 September 2023
 f)  Place of the transaction                                     London Stock Exchange

 

 

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