Issue of Shares to Russell Lamming

About this update from Keras Resources Plc

Keras Resources plc / Index: AIM / Epic: KRS / Sector: Mining   14 August 2025   Keras Resources plc ('Keras' or the 'Company')   Issue of Shares to Russell Lamming   Keras Resources plc (AIM: KRS) announces that it has issued 4,285,714 new ordinary shares of 1p each ("Ordinary Shares") in the Company at a price of 1.4 pence per new Ordinary Share, the same as the Open Offer price, in lieu of payment of £60,000 owed to Russell Lamming, Executive Chairman of the Company. Application has been made for the 4,285,714 new Ordinary Shares to be admitted to trading on AIM which is expected to occur on or around 21 August 2025. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares which are currently traded on AIM, along with the Ordinary Shares issued under the Open Offer and pursuant to the conversion of the CLNs as announced earlier today.   Total Voting Rights Following the issue of the Open Offer Shares, the shares issued pursuant to the CLNs and the issue of shares to Russell Lamming, the Company's issued share capital will comprise of 156,873,054 Ordinary Shares with voting rights.   This figure of 156,873,054 Ordinary Shares 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 Disclosure Rules and Transparency Rules of the United Kingdom Financial Conduct Authority.   Related Party Transaction Russell Lamming is a Related Party of the Company as defined under the AIM Rules, and the issue of new Ordinary Shares to Mr Lamming as set out above is therefore deemed to be a Related Party Transaction pursuant to AIM Rule 13 of the AIM Rules for Companies.   The Directors of the Company independent of the share issue, being Brian Moritz and Claire Parry, consider, having consulted with the Company's Nominated Adviser, SP Angel Corporate Finance LLP, that the proposed terms of the issue are fair and reasonable insofar as the Company's Shareholders are concerned.   Following admission of the new Ordinary Shares (including the Ordinary Shares issued under the Open Offer and pursuant to the CLNs) the beneficial interest of Russell Lamming in the issued Ordinary Shares will be as follows:   D...

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