REG - Kore Potash PLC - Trading Halt, Amended Admission,Fundraising Update

Kore PotashAnnouncement

11/11/2024 14:00

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RNS Number : 7526L  Kore Potash PLC  11 November 2024

11 November 2024

 

KORE POTASH PLC

("Kore Potash" or "the Company")

Trading Halt, Amended Admission Date & Fundraising Update

 

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, announces that the Company has requested a voluntary suspension
("Suspension") to the Company's quoted shares on the Australian Securities
Exchange ("ASX") in accordance with their rules. Trading in the shares of the
Company will continue to be halted ("Trading Halt") on the JSE Limited
("JSE").

 

The movement to a suspension on the ASX and continued trading halt on the JSE
were requested by the Company pending an announcement in relation to the
Engineering, Procurement and Construction ("EPC") contract. The Company's
securities will accordingly not be traded on the ASX and JSE whilst the
Suspension on the ASX and Trading Halt on the JSE remain in place.

 

Trading in the Company's ordinary securities will continue to trade as normal
on AIM, a market operated by the London Stock Exchange during this period.

 

The full version of the ASX announcement can be seen here:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02879034-6A1236940
(https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02879034-6A1236940)
 

 

 

Application for admission of Subscription Shares

 

Further to the Company's announcement of 5 November 2024 regarding a share
subscription (the "Fundraise"), which has raised approximately US$900,000
through the issue of 25,441,268 new ordinary shares of US$0.001 each in the
Company ("Subscription Shares"), as a result of the Suspension and Trading
Halt, Kore Potash advises that application will be made for the admission of
25,441,268 Subscription Shares to trading on AIM, the JSE and the Australian
Securities Exchange with admission expected to take place on or around 26
November 2024 rather than 18 November 2024 as stated in the announcement of 7
November 2024.

 

The Subscription Shares will, when issued, be credited as fully paid and will
rank pari passu in all respects with the existing issued ordinary shares of
the Company. This includes the right to receive all dividends and other
distributions declared or paid in respect of such ordinary shares after the
date of issue of the Subscription Shares.

 

Total voting rights

Following the admission to trading of the Subscription Shares, the Company's
total issued share capital will consist of 4,377,869,961 ordinary shares of
US$0.001 each. No shares are held in treasury. Accordingly, the total number
of voting rights in the Company will be 4,377,869,961.

 

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.

 

The Subscription Shares will be issued within the Company's existing ASX
Listing Rule 7.1 capacity. The Company can confirm that none of the
Subscription Shares are being issued to a party noted in ASX Listing Rule
10.11.

 

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 updated Appendix 3B Proposed issue of
securities with the ASX notifying of the proposed new issue date.

 

This announcement has been approved for release by the Board.

 

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

 

 Kore Potash

 Andre Baya, CEO
 Andrey Maruta, CFO                             Tel: +44 (0) 20 3963 1776
 Tavistock Communications

 Nick Elwes Josephine Clerkin                   Tel: +44 (0) 20 7920 3150

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

 Ewan Leggat

 Charlie Bouverat

 Grant Barker
 Shore Capital - Joint Broker Toby Gibbs        Tel: +44 (0) 20 7408 4050

 James Thomas
 Questco Corporate Advisory - JSE Sponsor       Tel: +27 63 482 3802

 Doné Hattingh

 

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