Business
Issue of Equity and Director's Holding
Issue of Equity and Director's Holding.
About this update from Kodal Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 9036L Kodal Minerals PLC 09 July 2014 \n \n\n9 July 2014\n \nKodal Minerals plc\n(\"Kodal Minerals\" or the \"Company\")\n \nIssue of Equity and Director's Shareholding\n \nKodal Minerals, the mining exploration company owning extraction licences for a phosphate and iron (titanomagnetite) project in southern Norway, has issued a total of 2,250,000 new ordinary shares of £0.0003125 each in the Company (\"Ordinary Shares\") in lieu of fees payable to a director of the Company for the quarter to 30 June 2014, as previously disclosed and as per the terms of his service contracts, as well as for part payment of services rendered by Skapa Mining Services. These new Ordinary Shares were issued at a subscription price of £0.0044 each, being the average closing price of Ordinary Shares over the last five trading days of June 2014, being the end of the quarter period to which the fees relate.\n \nThe new Ordinary Shares were issued as follows:\n \n\n\n\n\nName of shareholder\n\n\nTitle\n\n\nNumber of new Ordinary Shares issued\n\n\n\n\nIsmail Emin Eyi\n\n\nNon-executive director\n\n\n1,136,364\n\n\n\n\nSkapa Mining Services\n\n\nConsultant\n\n\n1,113,636\n\n\n\n\nTotal:\n\n\n\n\n\n2,250,000\n\n\n\n\n \nAccordingly, Emin Eyi is now interested in the following Ordinary Shares:\n \n\n\n\n\nName of Shareholder\n\n\nNumber of Ordinary Shares Held\n\n\nPercentage of issued share capital of the Company\n\n\n\n\nIsmail Emin Eyi\n\n\n31,957,310 \n\n\n4.12%\n\n\n\n\n \nThe 2,250,000 new Ordinary Shares rank pari passu in all respects with the existing Ordinary Shares. Application will be made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM (\"Admission\"). It is expected that Admission will become effective on or around 16 July 2014.\n \nTotal Voting Rights\n \nFollowing the issue of the 2,250,000 new Ordinary Shares, the Company's issued share capital consists of 774,849,428 ordinary shares of £0.0003125 each, with one voting right each. The Company does not hold any ordinary shares in treasury. Therefore the total number of ordinary shares and voting rights in the Company is 774,849,428.\n \nThe above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if ...