Business
Results of General Meeting & Issue of Shares
Results of General Meeting & Issue of Shares.
About this update from Kore Potash Plc
[{"type":"text","content":"\n\n14 May 2024\n \nKore Potash Plc\n(\"Kore Potash\" or the \"Company\")\n \nResults of General Meeting\nIssue of Shares\n \nKore Potash plc, the potash development company with 97% ownership of the Kola and DX Potash Projects in the Sintoukola Basin, located in the Republic of Congo, is pleased to announce that the resolutions put to its General Meeting (\"GM\") held yesterday, 13 May 2024, were all duly passed on a poll by the requisite majority.\n \nThe GM was held, inter alia, to approve the issue of 31,093,883 new ordinary shares of US$0.001 each in the Company (\"Ordinary Shares\") at 0.38p per Ordinary Share in line with the Company's fundraising announcements of 22 and 28 March 2024 (\"Fundraise\"). Application has been made for the 31,093,883 Ordinary Shares to be admitted to trading, which is expected to commence on or around 16 May 2024, (\"Admission\").\n \nDavid Hathorn, the Chairman of Kore Potash, participated in the Fundraise for a total of 31,093,883 New Ordinary Shares for a total value of US$150,000 via two separate trusts, the Belle Terre Trust and Stapleford Trust. These shares will be issued under ASX listing rule 10.11.1, having received the relevant shareholder approvals at yesterday's GM.\n \nOn Admission, David Hathorn will hold a beneficial interest in 368,801,944 Ordinary Shares representing 8.66 per cent of the issued share capital of the Company.\n \nThe following statistics, as detailed in the attached Annexure A, are provided in respect of each resolution 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 announcements dated 22 and 28 March 2024.\n \nTotal voting rights\nFollowing the issue and Admission of the 31,093,883 new Ordinary Shares, the Company's total issued share capital will consist of 4,260,626,056 Ordinary Shares. No shares are held in treasury. Accordingly, the total number of voting rights in the Company will be 4,260,626,056.\n \nThe above figure may be used by shareholders in the Company 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 share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparenc...