Business
Exercise of Options, Warrants & Performance Rights
Exercise of Options, Warrants & Performance Rights.
About this update from Kodal Minerals Plc
[{"type":"text","content":"\n\nKodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining\n \n16 November 2023\nKodal Minerals plc\n(\"Kodal Minerals\", \"Kodal\" or the \"Company\")\n \nExercise of Options, Warrants and Performance Share Rights,\nchange to director shareholdings\nand change to Total Voting Rights\n \nKodal 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, former directors, senior management and consultants of the Company to subscribe for a total of 280,833,333 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 £651,833.\n \nApplication will be made for the 280,833,333 New Ordinary Shares to be admitted to trading on AIM (\"Admission\") and it is expected that Admission will occur on or around 22 November 2023.\n \nDirector exercises of Options and Performance Share Rights\n \nSteven Zaninovich, Robert Wooldridge and Charles Joseland have exercised Options over, in aggregate, 92,916,666 New Ordinary Shares, as set out in the table below, which also sets out their resultant shareholdings.\n \nIn addition, the Company has received notice from Bernard Aylward to exercise his Performance Share Rights (as announced on 27 August 2021) over 70 million New Ordinary Shares at a subscription price of 0.03125 pence per share. This follows the satisfaction of the vesting condition relating to securing of finance for the construction of the Bougouni Lithium Project in Mali (\"Bougouni\"), as announced by the Company on 15 November 2023. Bernard Aylward's resultant shareholding is set out in the table below.\n \n\n\n\n\nName\n\n\nNo. of New Ordinary Shares issued on exercise\n\n\nSubscription amount (£)\n\n\nTotal No. of Ordinary\nShares held following exercise\n\n\nPercentage of the enlarged\n share capital\n\n\n\n\nBernard Aylward\n\n\n70,000,000\n \n\n\n£21,875.00\n\n\n321,364,799\n\n\n1.59%\n\n\n\n\nSteven Zaninovich\n\n\n26,666,666\n \n\n\n£52,000.00\n\n\n33,809,513\n\n\n0.17%\n\n\n\n\nRobert Wooldridge\n\n\n16,250,000\n \n\n...