7 November 2024
KORE POTASH PLC
("Kore
Potash" or "the Company")
Trading Halt, Amended Admission
Date & Fundraising Update
Kore 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,
announces that the Company has requested the Australian
Securities Exchange ("ASX")
and the JSE Limited ("JSE")
in accordance with their rules to immediately halt trading in the
Company's shares quoted on the ASX and JSE pending an announcement
in relation to the Engineering, Procurement and Construction
("EPC") contract (the
"Trading Halt").
The Company's securities will accordingly not
be traded on the ASX and JSE whilst the Trading Halt remains in
place.
Trading in the Company's ordinary securities
will continue to trade as normal on AIM, a market operated by the
London Stock Exchange during this period.
The full version of the ASX announcement can be
seen here:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02877833-6A1236483
Application
for admission of Subscription Shares
Further to the Company's announcement of 5
November 2024 regarding a share subscription (the "Fundraise"),
which has raised approximately US$900,000
through the issue of 25,441,268 new ordinary shares of US$0.001
each in the Company ("Subscription Shares"), as a result of the
Trading Halt, Kore Potash advises that application will be made for
the admission of 25,441,268 Subscription Shares to trading on AIM,
the JSE and the Australian Securities Exchange with admission
expected to take place on or around 18 November 2024 rather than 11
November 2024 as stated in the announcement of 5 November
2024.
The Subscription Shares will, when issued, be
credited as fully paid and will rank pari passu in all respects
with the existing issued ordinary shares of the Company. This
includes the right to receive all dividends and other distributions
declared or paid in respect of such ordinary shares after the date
of issue of the Subscription Shares.
Total voting
rights
Following the admission to trading of the
Subscription Shares, the Company's total issued share capital will
consist of 4,377,869,961 ordinary shares of US$0.001 each. No
shares are held in treasury. Accordingly, the total number of
voting rights in the Company will be 4,377,869,961.
The 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
Transparency Rules.
The Subscription Shares will be issued within
the Company's existing ASX Listing Rule 7.1 capacity. The Company
can confirm that none of the Subscription Shares are being issued
to a party noted in ASX Listing Rule 10.11.
Market Abuse Regulation
Market Abuse Regulation (MAR) Disclosure - The
information contained within this announcement is deemed by the
Company to constitute inside information as stipulated under the
Market Abuse Regulations (EU) No. 596/2014 which has been
incorporated into UK law by the European Union (Withdrawal) Act
2018. Upon the publication of this announcement via Regulatory
Information Service ("RIS"), this inside information is now
considered to be in the public domain.
The Company will also lodge an updated Appendix 3B Proposed issue of securities with the
ASX notifying of the proposed new issue date.
This announcement has been approved for release
by the Board.
For further information, please visit
www.korepotash.com or
contact: