KORE POTASH PLC - Director / PDMR Shareholding

Release Date: 07/08/2018 10:31
Code(s): KP2
 
Wrap Text
Director / PDMR Shareholding

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”)


                                DIRECTOR/PDMR SHAREHOLDING

Kore Potash announces that following shareholder approval at the AGM held on 27 June 2018, the
Company has cancelled existing non-executive director performance rights (“Existing NED
Performance Rights”) and granted new non-executive director performance rights (“New NED
Performance Rights”) to David Hathorn, Jonathan Trollip, Leonard Math, David Netherway and
Timothy Keating per the table below.

The New NED performance rights are a one-off award and will unconditionally vest in three equal
tranches on the first, second and third anniversary of the Company’s admission to AIM. The New NED
Performance Rights will expire on 22 May 2022. The New NED Performance Rights will be issued under
the Company’s current Performance Rights Plan (refer to the AGM Notice of Meeting dated 1 June
2018)

                                 Number of Existing NED               Number of New NED
          Director              Performance Rights to be            Performance Rights to be
                                       cancelled                           granted
       David Hathorn                    11,000,000                          1,500,000
      Jonathan Trollip                  2,000,000                           750,000
       Leonard Math                     1,000,000                           750,000
      David Netherway                       Nil                             750,000
      Timothy Keating                       Nil                             750,000


In addition, shareholders approved the grant of 4,000,000 options to David Hathorn and 17,200,000
options to Brad Sampson at the AGM on 27 June 2018. The Options will have an exercise price of
£0.11 per Option and each Option will entitle the holder, on exercise, to one Share.

The Options issued to Mr Sampson will expire on the tenth anniversary of the date of grant. The
Options issued to Mr Hathorn will expire on the second anniversary of the date of grant (unless
extended at the discretion of the Board by no more than 12 months). The vesting conditions for the
Options will include milestones being achieved in relation to the Kola Project.

Shares issued on exercise of any Options will rank pari passu with the other Shares. An Option may
only be exercised after that Option has vested, after any conditions associated with the exercise of
the Option are satisfied and before its expiry date. The Options will be issued under the Company’s
current Directors 2018 Share Option Plan (refer to the AGM Notice of Meeting dated 1 June 2018).
Notification of transaction by Person Discharging Managerial Responsibilities (“PDMR”)

1  Details of the person discharging managerial responsibilities/person
   closely associated
a) Name                               David Hathorn
2 Reason for the notification
a) Position/status                    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       Ordinary share of US$0.001 each
   instrument, type of instrument

   Identification code                GB00BYP2QJ94
b) Nature of the transaction          Grant of Performance Rights
c) Price(s) and volume(s)             Price: US$0.001

                                      Volume: 1,500,000
d) Aggregated information             Aggregated volume: N/A

                                      Price: N/A
e)   Date of the transaction          27 June 2018
f)   Place of the transaction         Outside a trading venue



1  Details of the person discharging managerial responsibilities/person
   closely associated
a) Name                               Jonathan Trollip
2 Reason for the notification
a) Position/status                    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       Ordinary share of US$0.001 each
   instrument, type of instrument

   Identification code                GB00BYP2QJ94
b) Nature of the transaction          Grant of Performance Rights
c) Price(s) and volume(s)             Price: US$0.001
                                      Volume: 750,000
d) Aggregated information             Aggregated volume: N/A

                                      Price: N/A
e)   Date of the transaction          27 June 2018
f)   Place of the transaction         Outside a trading venue


1  Details of the person discharging managerial responsibilities/person
   closely associated
a) Name                               Leonard Math
2 Reason for the notification
a) Position/status                    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       Ordinary share of US$0.001 each
   instrument, type of instrument

   Identification code                GB00BYP2QJ94
b) Nature of the transaction          Grant of Performance Rights
c) Price(s) and volume(s)             Price: US$0.001

                                      Volume: 750,000
d) Aggregated information             Aggregated volume: N/A

                                      Price: N/A
e)   Date of the transaction          27 June 2018
f)   Place of the transaction         Outside a trading venue



1  Details of the person discharging managerial responsibilities/person
   closely associated
a) Name                               David Netherway
2 Reason for the notification
a) Position/status                    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     Ordinary share of US$0.001 each
     instrument, type of instrument

   Identification code                GB00BYP2QJ94
b) Nature of the transaction          Grant of Performance Rights
c) Price(s) and volume(s)             Price: US$0.001

                                      Volume: 750,000
d) Aggregated information             Aggregated volume: N/A

                                      Price: N/A
e)   Date of the transaction          27 June 2018
f)   Place of the transaction         Outside a trading venue


1  Details of the person discharging managerial responsibilities/person
   closely associated
a) Name                               Timothy Keating
2 Reason for the notification
a) Position/status                    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       Ordinary share of US$0.001 each
   instrument, type of instrument

   Identification code                GB00BYP2QJ94
b) Nature of the transaction          Grant of Performance Rights
c) Price(s) and volume(s)             Price: US$0.001

                                      Volume: 750,000
d) Aggregated information             Aggregated volume: N/A

                                      Price: N/A
e)   Date of the transaction          27 June 2018
f)   Place of the transaction         Outside a trading venue



1  Details of the person discharging managerial responsibilities/person
   closely associated
a) Name                              David Hathorn
2 Reason for the notification
a) Position/status                   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        Ordinary share of US$0.001 each
   instrument, type of instrument

   Identification code                GB00BYP2QJ94
b) Nature of the transaction          Grant of Options
c) Price(s) and volume(s)             Exercise Price: £0.11

                                      Volume: 4,000,000
d) Aggregated information             Aggregated volume: N/A

                                      Price: N/A
e)   Date of the transaction          27 June 2018
f)   Place of the transaction         Outside a trading venue



1  Details of the person discharging managerial responsibilities/person
   closely associated
a) Name                               Brad Sampson
2 Reason for the notification
a) Position/status                    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       Ordinary share of US$0.001 each
   instrument, type of instrument

   Identification code                GB00BYP2QJ94
b) Nature of the transaction          Grant of Options
c) Price(s) and volume(s)             Exercise Price: £0.11

                                      Volume: 17,200,000
d) Aggregated information             Aggregated volume: N/A

                                      Price: N/A
e)   Date of the transaction          27 June 2018
f)   Place of the transaction         Outside a trading venue
                                                ENDS

7 August 2018
JSE Sponsor: Rencap Securities (Pty) Limited


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
 Martin Davison
 James Asensio

 Renaissance Capital – JSE Sponsor                              Tel: +27 (11) 750 1448
 Yvette Labuschagne

Date: 07/08/2018 10:31:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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