Business
Director’s dealing and Total Voting Rights
Kendrick Resources PLC announced the issuance of 17,531,200 ordinary shares to settle £350,624 in accrued fees, with £289,374 of this amount owed to directors and Lion Mining Finance Ltd, and the remainder to consultants. These shares were issued at 2.0 pence each, a premium to the relevant VWAP price, and represent 4.3% of the enlarged share capital. The new shares are expected to be admitted to trading on the London Stock Exchange on or around March 4, 2026, bringing the total issued share capital to 334,329,352 ordinary shares. Disclaimer*
About this update from Kendrick Resources Plc
[{"type":"text","content":"\n\n\n\n\n25 February 2026 \n \nKendrick Resources PLC\n(\"Kendrick\" or the \"Company\")\nDirector's dealing and Total Voting Rights\n \nKendrick Resources Plc (LSE: KEN), the mineral exploration and development company announces the Issue of new 17,531,200 ordinary shares of GBP0.0003 each (\"Conversion Shares\") to settle £350,624 of accrued fees (\"the \"Accrued Fees\") that would otherwise be payable by the Company. The Conversion Shares will rank pari passu with the existing ordinary shares in the Company.\n \nIn accordance with the authority granted at its Annual General Meeting on 25 July 2025, the Company was authorised to settle accrued fees due to directors and consultants based on the VWAP during the quarter to which the fees relate. The Accrued Fees relate to different periods but in each case the VWAP for the period to which the Accrued Fees relate is approximately 1.0 pence (the \"VWAP Price\"). The Company has however agreed with the parties to whom the Accrued Fees are owed to settle the Accrued Fees at 2.0 pence being the closing bid price on 24 February 2026 being the last practical date before the date of this announcement and which is at a premium of approximately 100% to the VWAP Price.\n \nOf the £350,624 of accrued fees owed £289,374 are due to Directors and Lion Mining Finance Ltd a company controlled by Chairman Colin Bird and are being settled by the issue of a total of 14,468,700 Conversion Shares and £61,250 of the Accrued Fees were owed to consultants and are being settled by the issue of 8,752,728 Conversion Shares. The total Conversion Shares being issued to the Directors and their related parties equals 4.3% of the enlarged shares in issue following the issue of the Conversion Shares. The table below shows the Directors' shareholdings after the issue of the Conversion Shares \n \n\n \nApplication will be made to the London Stock Exchange for the 17,531,200 Conversion Shares to be admitted to trading on the London Stock Exchange's main market for listed securities (\"Admission\"). It is expected that Admission will become effective and that dealings will commence at 8.00 a.m. on or around 4 March 2026.\n \nFollowing the issue of the Conversion Shares, the Company's total issued share capital will consist of 334,329,352 Ordinary Share...