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Issue of Equity and Cancellation of Certain Performance Rights and Options
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”)
Issue of Equity and Cancellation of Certain Performance Rights and Options
Kore Potash plc advises that a total of 1,103,296 ordinary shares of US$0.001 each in the Company
("New Ordinary Shares") have today been issued to certain Non-Executive Directors of the Company
in lieu of cash fees for the quarter ended 31 March 2021, as approved at the General Meeting of the
Company held on 18 September 2020 ("Remuneration Shares").
Additionally, the Company also confirms the issue of 1,250,000 ordinary shares due under the third
and final tranche of the Company’s performance rights plan (the “Performance Rights”) for Non-
Executive Directors.
Non-Executive Director shares in lieu of cash fees
The number of New Ordinary Shares issued to each Non-Executive Director in lieu of remuneration
for the quarter ended 31 March 2021 was calculated as follows:
Annual fee Quarterly fee Percentage of GBP/USD 7 day Number
Remuneration VWAP of shares
David US$100,000.00 US$8,333.33* 55% 1.3779 1.5994 207,973
Hathorn
David US$80,500.00 US$20,125.00 55% 1.3779 1.5994 502,254
Netherway
Jonathan US$63,000.00 US$15,750.00 55% 1.3779 1.5994 393,069
Trollip
Total 1,103,296
* As part of the Company’s on-going cost saving exercise David Hathorn waived his remuneration for
the months of February and March 2021.
Performance rights
The Company also confirms it has issued 1,250,000 ordinary shares to satisfy the unconditional
vesting of the third and final tranche of the Performance Rights issued to certain Non-Executive
Directors on 29 March 2021, being the third anniversary of admission to trading on AIM. The previous
two tranches were announced on 15 April 2019 and 7 April 2020.
Consistent with the previous two tranches, the following is the breakdown of the ordinary shares
issued under the Performance Rights:
Number of Shares Amount to be paid
David Hathorn 500,000 US$500.00
David Netherway 250,000 US$250.00
Jonathan Trollip 250,000 US$250.00
Timothy Keating 250,000 US$250.00
Total 1,250,000 US$1,250.00
Accordingly, a total of 2,353,296 ordinary shares of US$0.001 each (being 1,103,296 ordinary
shares in respect of Directors Remuneration Shares and 1,250,000 ordinary shares in respect of
Performance Rights as detailed above) have today been issued. Application has been made for the
admission of 2,353,296 ordinary shares of US$0.001 each on AIM, the Johannesburg Stock
Exchange and the Australian Securities Exchange with admission expected to take place on
Wednesday 14 April 2021.
For ASX’s purposes, and having previously obtained shareholder approvals for the issues, the
shares are issued under ASX Listing Rule 10.11 (Remuneration Shares) and 10.14 (Performance
Rights) respectively.
Following this issue, the Company's issued share capital consists of 2,454,121,469 ordinary shares.
No shares are held in treasury. Accordingly, the total number of voting rights in the Company
is 2,454,121,469.
The above 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 to their interest in,
the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency
Rules.
Cancellation of certain Performance Rights and Options
Following the determination by the Company that the applicable vesting conditions within each
category would not be achieved, a total of 7,500,000 Performance Rights and Unlisted Options
previously issued have been cancelled as follows:
Number of
Securities
Performance Rights expiring 1 March 2021 (Directors) (KP2AC) 4,500,000
Unlisted Options exercisable at £0.022 each, expiring on 1 January 2024 (KP2AB) 3,000,000
Total 7,500,000
This announcement has been approved for release by the Board.
9 April 2021
ENDS
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
Notification of transaction by Person Discharging Managerial Responsibilities ("PDMR") in relation to
issue of Renumeration Shares. For the avoidance of doubt the ordinary shares being issued under
the Performance Rights was reported on 15 April 2019.
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 instrument, type of Ordinary Shares of US$0.001 each
instrument
Identification code GB00BYP2QJ94
b) Nature of the transaction Issue of shares
c) Price(s) and volume(s) Price: 1.5994p
Volume: 207,973
d) Aggregated information Aggregated volume: N/A
Price: N/A
e) Date of the transaction 9 April 2021
f) Place of the transaction Outside a trading venue
Notification of transaction by Person Discharging Managerial Responsibilities ("PDMR")
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 instrument, type of Ordinary Shares of US$0.001 each
instrument
Identification code GB00BYP2QJ94
b) Nature of the transaction Issue of shares
c) Price(s) and volume(s) Price: 1.5994p
Volume: 502,254
d) Aggregated information Aggregated volume: N/A
Price: N/A
e) Date of the transaction 9 April 2021
f) Place of the transaction Outside a trading venue
Notification of transaction by Person Discharging Managerial Responsibilities ("PDMR")
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 instrument, type of Ordinary Shares of US$0.001 each
instrument
Identification code GB00BYP2QJ94
b) Nature of the transaction Issue of shares
c) Price(s) and volume(s) Price:1.5994p
Volume: 393,069
d) Aggregated information Aggregated volume: N/A
Price: N/A
e) Date of the transaction 9 April 2021
f) Place of the transaction Outside a trading venue
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 instrument, type of Ordinary Shares of US$0.001 each
instrument
Identification code B00BYP2QJ94
b) Nature of the transaction Conversion of Performance Rights
c) Price(s) and volume(s) Price: US$0.001
Volume: 500,000
d) Aggregated information Aggregated volume: N/A
Price: N/A
e) Date of the transaction 9 April 2021
f) Place of the transaction Outside a trading venue
Notification of transaction by Person Discharging Managerial Responsibilities ("PDMR")
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 instrument, type of Ordinary Shares of US$0.001 each
instrument
Identification code GB00BYP2QJ94
b) Nature of the transaction Conversion of Performance Rights
c) Price(s) and volume(s) Price: US$0.001
Volume: 250,000
d) Aggregated information Aggregated volume: N/A
Price: N/A
e) Date of the transaction 9 April 2021
f) Place of the transaction Outside a trading venue
Notification of transaction by Person Discharging Managerial Responsibilities ("PDMR")
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 instrument, type of Ordinary Shares of US$0.001 each
instrument
Identification code GB00BYP2QJ94
b) Nature of the transaction Conversion of Performance Rights
c) Price(s) and volume(s) Price: US$0.001
Volume: 250,000
d) Aggregated information Aggregated volume: N/A
Price: N/A
e) Date of the transaction 9 April 2021
f) Place of the transaction Outside a trading venue
Date: 09-04-2021 08:00:00
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