Kore Potash Plc
("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)
Director |
Number of Existing NED Performance Rights to be cancelled |
Number of New NED Performance Rights to be 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 instrument, type of instrument |
Ordinary share of US$0.001 each |
|
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 instrument, type of instrument |
Ordinary share of US$0.001 each |
|
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 instrument, type of instrument |
Ordinary share of US$0.001 each |
|
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 instrument, type of instrument |
Ordinary share of US$0.001 each |
|
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 instrument, type of instrument |
Ordinary share of US$0.001 each |
|
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 instrument, type of instrument |
Ordinary share of US$0.001 each |
|
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 instrument, type of instrument |
Ordinary share of US$0.001 each |
|
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 |
