Results of General Meeting and Issue of Shares

RNS Announcement

RNS Number : 4496Z

Kore Potash PLC

18 September 2020

Kore Potash Plc

("Kore Potash" or the "Company")

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 946,106,375 new ordinary shares ("Ordinary Shares") in the Company at £0.0065 per share in line with the Company's announcements of 28 August and 2 September 2020. Application has been made for 882,688,876 Placing and Subscription Shares to be admitted to trading on AIM and the JSE Securities Exchange on 21 September 2020. The Company also intends to issue, within the next 8 months, pursuant to the Technical Services Agreement (which has become unconditional) 63,417,499 new Ordinary Shares at £0.0065 per share to Sociedad Quimica y Minera de Chile S.A. ("SQM") in lieu of the fees payable under the Technical Services Agreement (the "Deferred Technical Services Shares").

Following the issue of the Placing and Subscription Shares, the Company's issues share capital will consist of 2,439,220,712 ordinary shares of US$0.001. Accordingly, the total number of voting rights in the Company is 2,439,220,712. 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 motion 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 of 28 August 2020.

ENDS

For further information, please visit www.korepotash.com or contact:

Kore Potash Brad Sampson - CEO		Tel: +27 11 469 9140
Tavistock Communications Jos Simson Edward Lee		Tel: +44 (0) 20 7920 3150
Canaccord Genuity - Nomad and Broker James Asensio Henry Fitzgerald-O'Connor		Tel: +44 (0) 20 7523 4600
Shore Capital - Joint Broker Jerry Keen Toby Gibbs Mark Percy		Tel: +44 (0) 20 7408 4050

ANNEXURE A:

In respect to each resolution the total number of votes exercisable by all validly appointed proxies was as follows:

RESOLUTION	TOTAL VOTES VALIDLY CAST	FOR	DISCRETION - CHAIRMAN	DISCRETION - OTHER	AGAINST	VOTES WITHHELD
Resolution 1 - AUTHORITY TO ALLOT SHARES IN CONNECTION WITH THE FUNDRAISE	915,922,904	913,713,864	2,032,840	0	176,200	185,000
Resolution 2 - APPROVAL OF SECURITIES ISSUE TO NON-AFFILIATED INVESTORS IN CONNECTION WITH THE FUNDRAISE	915,922,904	913,712,864	2,032,840	0	177,200	185,000
Resolution 3 - APPROVAL OF SECURITIES ISSUE TO DIRECTOR UNDER THE PLACING	861,465,758	859,255,008	2,032,840	0	177,910	54,642,146
Resolution 4 - APPROVAL OF SECURITIES ISSUE TO SQM UNDER THE PLACING	915,421,704	913,212,154	2,032,840	0	176,710	686,200
Resolution 5 - APPROVAL OF SECURITIES ISSUE TO SGRF UNDER THE PLACING	611,698,495	609,488,945	2,032,840	0	176,710	304,409,409
Resolution 6 - APPROVAL TO ISSUE SHARES TO MR DAVID HATHORN IN LIEU OF CASH PAYMENTS FOR DIRECTOR FEES	861,439,558	848,098,070	2,032,840	0	11,308,648	54,668,346
Resolution 7 - APPROVAL TO ISSUE SHARES TO MR JONATHAN TROLLIP IN LIEU OF CASH PAYMENTS FOR DIRECTOR FEES	915,896,704	902,552,716	2,032,840	0	11,311,148	211,200
Resolution 8 - APPROVAL TO ISSUE SHARES TO MR TIMOTHY KEATING IN LIEU OF CASH PAYMENTS FOR DIRECTOR FEES	611,173,495	597,832,007	2,032,840	0	11,308,648	304,934,409
Resolution 9 - APPROVAL TO ISSUE SHARES TO MR DAVID NETHERWAY IN LIEU OF CASH PAYMENTS FOR DIRECTOR FEES	915,895,704	902,555,216	2,032,840	0	11,307,648	211,200
Resolution 10 - APPROVAL TO ISSUE SHARES TO MR JOSÉ ANTONIO MERINO IN LIEU OF CASH PAYMENTS FOR DIRECTOR FEES	915,896,704	902,555,216	2,032,840	0	11,308,648	211,200
Resolution 11 - APPROVAL TO ISSUE SHARES TO SQM IN LIEU OF FEES PAYABLE UNDER A TECHNICAL SERVICES AGREEMENT	915,894,204	913,697,987	2,032,840	0	163,377	213,700
Resolution 12 - DISAPPLICATION OF PRE-EMPTION RIGHTS IN CONNECTION WITH THE FUNDRAISE	915,907,870	913,688,320	2,032,840	0	186,710	200,034

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END

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RNS metadata

Title: Results of General Meeting and Issue of Shares
Time: 11:00:06
Date: 18 Sept 2020
Category: AGMs and other meetings
ID: 4496Z