REG - Kropz PLC - Long Term Incentive Plan Awards

KropzAnnouncement

18/01/2022 10:55

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RNS Number : 8310Y  Kropz PLC  18 January 2022

18 January 2022

 

Kropz Plc

("Kropz" or the "Company")

 

Long Term Incentive Plan Awards

 

Kropz Plc (AIM: KRPZ), an emerging African phosphate developer, is pleased to
announce that the Company has issued ordinary shares in the Company to key
members of the executive management team, including certain Persons
Discharging Managerial Responsibilities ("PDMRs"), including Chief Executive
Officer Mark Summers and Chief Operating Officer Michelle Lawrence. The issue
of ordinary shares are due to awards vesting and issued under its Long Term
Incentive Plan ("LTIP Awards"), issued on 31 July 2020 as announced on 4
August 2020.

 

These LTIP Awards had performance conditions aligned to the implementing the
Company's strategic plans, including completion of the construction of the
Elandsfontein mine within budget, on schedule and commissioning the plant
before 31 December 2021 and updating of the Hinda feasibility study by 31
December 2021. The remuneration committee has confirmed that these performance
conditions had been met.

 

As a result, it was agreed that a total of 6,700,000 ordinary shares in the
capital of the Company would be issued at an exercise price of £0.001 an
ordinary share. This includes issues to PDMRs as follows:-

 

 

 Optionholders      Number of ordinary shares  Total exercise price
 Mark Summers       2,350,000                  £2,350
 Michelle Lawrence  2,350,000                  £2,350

 

 

Following the issue of the ordinary shares, Mark Summers and Michelle Lawrence
will hold the following number of ordinary shares and ESOP and LTIP Awards:

 

 Holder             Ordinary Shares      ESOP and LTIP Awards
                    No.        %
 Mark Summers       2,764,889  0.30      5,762,609
 Michelle Lawrence  2,350,000  0.26      3,865,137

 

Admission and Total Voting Rights

 

Application will be made for the 6,700,000 new ordinary shares to admission to
trading on the AIM Market of the London Stock Exchange ("AIM"). It is expected
that admission will become effective and that dealings in the new ordinary
shares will commence at 8.00 a.m. on 24 January 2022 ("Admission").

 

On Admission, the Company's issued share capital on AIM will consist of
916,271,975 ordinary shares with voting rights. There are no shares held in
treasury. 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 of their interest in, the Company under the FCA's
Disclosure Guidance and Transparency Rules.

 

Further details of the PDMR dealings are included below. This information has
been provided in accordance with Article 5(1)(b) of the Market Abuse
Regulation (EU) No 596/2014 which is part of UK law by virtue of the European
Union (Withdrawal) Act 2018.

 

For further information visit www.kropz.com or contact:

 

 

 Kropz Plc

 Mark Summers (CEO)                +27 (0)79 744 8708

 Grant Thornton UK LLP             Nominated Adviser
 Samantha Harrison                 +44 (0) 20 7383 5100

 Harrison Clarke

 George Grainger

 Hannam & Partners                 Broker
 Andrew Chubb                      +44 (0)20 7907 8500

 Ernest Bell

 Tavistock                         Financial PR & IR (UK)
 Nick Elwes                        +44 (0) 207 920 3150

 Jos Simson                        kropz@tavistock.co.uk (mailto:kropz@tavistock.co.uk)

 Oliver Lamb

 R&A Strategic Communications      PR (South Africa)
 James Duncan                      +27 (0) 11 880 3924

                                   james@rasc.co.za

 

 

About

 

Kropz is an emerging African explorer and developer of plant nutrient feed
minerals with phosphate projects in South Africa and the Republic of Congo.
The vision of the Group is to become a leading independent phosphate rock
producer and to develop into an integrated, mine-to-market plant nutrient
company focusing on sub-Saharan Africa.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ANNEX - PDMR notifications

Template for 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                                                         Mark Summers

 2    Reason for the notification

 a)   Position/status                                              Chief Executive Officer

 b)   Initial notification /Amendment                              Initial

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

    platform, auctioneer or auction monitor

 a)   Name                                                         Kropz plc

 b)   LEI                                                          2138005Y467BCQ3QOT77

 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

      Identification code                                          GB00BZ1HLP69

 b)   Nature of the transaction                                    Exercise of options

 c)   Price(s) and volume(s)

                                                                                     Price(s)          Volume(s)
                                                                                     £0.001            2,350,000

 d)   Aggregated information

      - Aggregated volume                                          N/A

      - Price

 e)   Date of the transaction                                      18 January 2022

 f)   Place of the transaction                                     Outside a trading venue

 

 

 

 1    Details of the person discharging managerial responsibilities/person closely

    associated

 a)   Name                                                         Michelle Lawrence

 2    Reason for the notification

 a)   Position/status                                              Chief Operating Officer

 b)   Initial notification /Amendment                              Initial

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

    platform, auctioneer or auction monitor

 a)   Name                                                         Kropz plc

 b)   LEI                                                          2138005Y467BCQ3QOT77

 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

      Identification code                                          GB00BZ1HLP69

 b)   Nature of the transaction                                    Exercise of options

 c)   Price(s) and volume(s)

                                                                                     Price(s)          Volume(s)
                                                                                     £0.001            2,350,000

 d)   Aggregated information

      - Aggregated volume                                          N/A

      - Price

 e)   Date of the transaction                                      18 January 2022

 f)   Place of the transaction                                     Outside a trading venue

 

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