Source - LSE Regulatory
RNS Number : 4472T
Kodal Minerals PLC
20 March 2023
 

Kodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining

 

20 March 2023

Kodal Minerals plc

("Kodal Minerals", "Kodal" or the "Company")

 

Exercise of Options, Warrants and Performance Share Rights to raise approximately £342,375

Total Voting Rights

 

Kodal Minerals, the mineral exploration and development company focused on lithium and gold assets in West Africa, announces that it has received notices of exercise for options ("Options"), warrants ("Warrants") and Performance Share Rights from certain directors, senior management and consultants of the Company to subscribe for a total of 106,250,000 new ordinary shares of 0.03125 pence each in the Company ("New Ordinary Shares") (together, the "exercise(s)"). Total subscription proceeds for the Company from these exercises is approximately £342,375.

 

Following the exercises, the directors will hold the following shareholdings in the Company as a result of exercising Options:

 

Name

No. of New Ordinary Shares issued on exercise

Subscription amount (£)

Total No. of Ordinary

Shares held following exercise

Percentage of the enlarged

 share capital

Bernard Aylward

25,000,000

£ 95,000

             246,007,656

1.45%

Steven Zaninovich

30,000,000

£ 114,000

               37,142,857

0.22%

Robert Wooldridge

16,250,000

£ 53,750

             169,973,858

1.00%

Charles Joseland

10,000,000

£ 19,500

               16,250,000

0.10%

Qingtao Zeng

0

£ 0

6,250,000

0.04%

 

Details of the Options exercises in which directors are interested in are set out in the table at the end of this announcement, which has been provided in accordance with the requirements of the UK Market Abuse Regulation.

 

Exercise of Performance Share Rights

 

On 27 August 2021, the Company announced, amongst other matters, the award of Performance Share Rights to Bernard Aylward (CEO) and Mohamed Niare (Country Manager, Mali), the exercise of which is subject to certain vesting conditions being satisfied and upon payment of the nominal value for the New Ordinary Shares.

 

The Company has received notice from Mohamed Niare to exercise his Performance Share Rights over 10 million New Ordinary Shares, resulting in the issue to him of 10 million New Ordinary Shares at a subscription price of 0.03125 pence per share. This follows the satisfaction of the vesting condition for the successful grant of the mining licence pertaining to the Bougouni Lithium Project in Mali ("Bougouni").

 

Details of this Performance Share Rights exercise are set out in the table at the end of this announcement, which has been provided in accordance with the requirements of the UK Market Abuse Regulation.

 

Application for admission to trading and total voting rights

 

Application has been made for the 106,250,000 New Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on or around 23 March 2023.

 

Upon Admission, the issued share capital of the Company will consist of 17,009,980,956 ordinary shares of 0.01325p each.  The Company holds no shares in treasury. The total number of voting rights in the Company from Admission will therefore be 17,009,980,956. This figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in or a change to their interest in the Company under the Disclosure Guidance and Transparency Rules of the UK Financial Conduct Authority.

 

For further information, please visit www.kodalminerals.com or contact the following:

 

Kodal Minerals plc

Bernard Aylward, CEO

 

Tel: +61 418 943 345

 

Allenby Capital Limited, Nominated Adviser

Jeremy Porter/Vivek Bhardwaj/Nick Harriss

 

 

Tel: 020 3328 5656

SP Angel Corporate Finance LLP, Financial Adviser & Joint Broker

John Mackay/Adam Cowl

 

 

Tel: 020 3470 0470

Canaccord Genuity UK Limited, Joint Broker

James Asensio/Gordon Hamilton

 

 

Tel: 0207 523 4680

St Brides Partners Ltd, Financial PR

Susie Geliher/Ana Ribeiro

 

 

Tel: 020 7236 1177

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

PDMRs:

Bernard Aylward

CEO

Steve Zaninovich

Operations Director

Robert Wooldridge

Chairman

Charles Joseland

Non-Executive Director

 

 

2

Reason for the notification

a)

Position/status

See 1 a) above

b)

 

Initial notification /Amendment

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Kodal Minerals plc

b)

LEI

213800VKFS7TS32EGI81

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

Identification code

ordinary shares of 0.03125p  


GB00BH3X7Y70

b)

Nature of the transaction

Exercise of Share Options

c)

Price(s) and volume(s)

Name

Volume

Exercise Price

Bernard Aylward

12,500,000

12,500,000

0.38p

0.38p

Steve Zaninovich

13,333,333

16,666,667

0.38p

0.38p

Robert Wooldridge

6,250,000

10,000,000

0.38p

0.30p

Charles Joseland

1,666,667

1,666,667

1,666,667

1,666,666

1,666,666

1,666,667

0.14p

0.25p

0.14p

0.25p

0.14p

0.25p

d)

Aggregated information

- Aggregated volume

- Price

 

81,250,000 Ordinary Shares

 

£282,250.00

 

e)

Date of transaction

19 March 2023

f)

Place of the transaction

Outside a trading venue

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mohamed Niare

 

2

Reason for the notification

a)

Position/status

Country Manager, Mali (PDMR)

b)

 

Initial notification /Amendment

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Kodal Minerals plc

b)

LEI

213800VKFS7TS32EGI81

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

Identification code

ordinary shares of 0.03125p  


GB00BH3X7Y70

b)

Nature of the transaction

Exercise of Performance Share Rights  

Exercise of Options

c)

Price(s) and volume(s)


Price(s)

Volume

Performance Share Rights 

0.03125p  

10,000,000

Options (8 May 2017 - 8 May 2023)

0.38p

2,500,000

Options (8 May 2018 - 8 May 2024)

0.38p

2,500,000

d)

Aggregated information

- Aggregated volume

- Price

 

15,000,000 Ordinary Shares

£22,125.00

e)

Date of transaction

19 March 2023

f)

Place of the transaction

Outside a trading venue

 

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