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Results of General Meeting and Issue of Shares
Kore Potash plc
(Incorporated in England and Wales)
Registration number 10933682
ASX share code: KP2
AIM share code: KP2
JSE share code:KP2
ISIN: GB00BYP2QJ94
(“Kore Potash” or the “Company”)
5 May 2021
Results of General Meeting (”GM”) and Issue of Shares
Kore Potash plc, the potash development company whose flagship asset is the 97%-owned Sintoukola
Potash Project, is pleased to announce that the resolutions put to its 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 462,310,392 new ordinary shares (“Ordinary
Shares”) in the Company at 1.1p (2.0 Australian cents) per share in line with the Company’s
announcements of 19 April 2021. Application has been made for the Ordinary Shares to be admitted
to trading on 6 May 2021.
The Company is pleased to report that as a result of its close period ending, Chairman, David Hathorn,
has confirmed his participation in the proposed fundraise, for a total of 23,056,653 New Ordinary
Shares for a total value of approximately US$350,000.
Princess Aurora Company Pte Ltd ("OIA”) has now also signed a subscription agreement confirming
their purchase of 92,226,613 new ordinary shares (“OIA Shares”) at 1.1p for a total cash consideration
of US$1.4 million. Application will be made for the OIA Shares to be admitted to trading on 11 May
2021.
As a substantial shareholder, OIA’s investment is deemed to be a related party transaction for the
purposes of AIM Rule 13. The directors of the Company, other than Sameer Oundhakar, having
consulted with the Company's nominated adviser, Canaccord Genuity, consider that the terms of OIA's
investment are fair and reasonable insofar as Shareholders are concerned. These shares will, for ASX
purposes, be issued under ASX listing rule 10.11, having received the relevant shareholder approvals
at today’s GM.
Both David Hathorn’s and OIA’s participation in the fundraising will result in each holding the following
number of shares:
Shareholder Number of existing Number of New Total number of
Ordinary Shares Ordinary Shares Ordinary Shares
OIA 569,658,558 92,226,613 661,885,171
David Hathorn 118,080,363 23,056,653 141,137,016
Following the issue of the Placing Shares, Subscription Shares, Fee Shares and the OIA Shares, the
Company’s issued share capital will consist of 3,371,823,700 ordinary shares of US$0.001. Accordingly,
the total number of voting rights in the Company is 3,371,823,700. This figure may be used by
shareholders 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 Company under the Financial Conduct
Authority’s Disclosure Guidance and Transparency Rules.
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 8 April 2021 and 14 April 2021.
This announcement was approved for release by the Board of Directors.
ENDS
Market Abuse Regulation
This announcement is released by Kore Potash plc and contains inside information for the purposes
of the UK version of the EU Market Abuse Regulation (EU 596/2014) ("UK MAR") and is disclosed in
accordance with the Company's obligations under MAR.
For further information, please visit www.korepotash.com or contact:
Kore Potash Tel: +27 11 469 9140
Brad Sampson – CEO
Tavistock Communications Tel: +44 (0) 20 7920 3150
Jos Simson
Edward Lee
Canaccord Genuity – Nomad and Broker Tel: +44 (0) 20 7523 4600
James Asensio
Henry Fitzgerald-O’Connor
Shore Capital – Joint Broker Tel: +44 (0) 20 7408 4050
Jerry Keen
Toby Gibbs
James Thomas
Questco Corporate Advisory – JSE Sponsor Tel: +27 (11) 011 9208
Mandy Ramsden
ANNEXURE A:
In respect to each resolution the total number of votes exercisable by all validly appointed proxies was as follows:
FOR
TOTAL VOTES VOTES
RESOLUTION (including AGAINST
VALIDLY CAST WITHHELD
discretion)
742,676 1,146,646
Resolution 1 – Allot shares 1,537,073,078 1,536,330,402
742,676 1,150,146
Resolution 2 – Securities for investors 1,535,069,578 1,534,326,902
795,376 1,060,446
Resolution 3 – Securities for director 1,537,159,278 1,536,363,902
851,376 1,060,446
Resolution 4 – Securities issue to SQM 1,537,159,278 1,536,307,902
851,376 495,138,275
Resolution 5 – Securities issue to SGRF 1,010,716,449 1,009,865,073
742,676 1,061,646
Resolution 6 – Placing Shares 1,535,158,078 1,534,415,402
479,772 1,145,446
Resolution 7 – Issue of Shares 1,537,074,278 1,536,594,506
782,093 1,046,646
Resolution 8 – Allot Shares 1,537,173,078 1,536,390,985
779,813 1,231,146
Resolution 9 - Pre-emption rights 1 1,536,988,578 1,536,208,765
845,813 1,165,146
Resolution 10 – Pre-Emption rights 2 1,537,054,578 1,536,208,765
Date: 05-05-2021 03:20:00
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