TIDMKRS
RNS Number : 7922R
Keras Resources PLC
09 November 2021
9(th) November 2021
Keras Resources plc ('Keras' or the 'Company')
PDMR & PCA Dealings and Appointment of Executive
Director
Keras Resources plc (AIM: KRS) today announces Director
purchases of shares and the appointment of Graham Stacey to the
Board as Executive Director.
Further to the Diamond Creek update released on Friday 5
November 2021, the Directors of Keras, Brian Moritz, Russell
Lamming, and David Reeves have purchased an additional 0.84% or
52,980,987 ordinary shares of 0.01 pence each in the Company,
("Ordinary Shares") and their resulting shareholdings are detailed
as below. In addition, Graham Stacey has agreed to convert GBP7,500
of his outstanding fees into 12,500,000 new Ordinary Shares at a
price of 0.06p per Ordinary Share ("Salary Shares") taking the
Board's shareholding to 23.82%.
Application will be made for the Salary Shares to be admitted to
trading on AIM which is expected occur on or around 15 November
2021 ("Admission"). Following Admission, there will be
6,296,073,068 Ordinary Shares in issue with each share carrying the
right to one vote. There are no shares currently held in treasury.
The total number of voting rights in the Company will therefore be
6,296,073,068 and this figure may be used by shareholders as the
denominator for the calculations by which they determine if they
are required to notify their interest in, or a change to their
interest in, the Company under the Financial Conduct Authority's
Disclosure Rules and Transparency Rules.
Director Purchase of shares Total shares % Interest in Ordinary
on 08.11.2021 now held Shares
Brian Moritz 17,200,000 177,582,118 2.82%
------------------- -------------- -----------------------
Russell Lamming 18,180,987* 416,184,497 6.61%
------------------- -------------- -----------------------
Dave Reeves 17,600,000 861,942,616 13.69%
------------------- -------------- -----------------------
Graham Stacey 12,500,000 43,739,000 0.69%
------------------- -------------- -----------------------
Total 65,480,987** 1,499,448,231 23.82%
------------------- -------------- -----------------------
*Shares were acquired by Mr Lamming's spouse.
** Including Salary Shares issued to Mr Stacey
Keras is also very pleased to announce that Graham Stacey has
joined the Board as Executive Director. Mr Stacey is a qualified
Mining Engineer with over 25 years' experience across the resources
sector and has been Chief Operating Officer of Keras since April
2019. He is a Competent Person and Competent Valuator as a
longstanding member of the South African Institute of Mining and
Metallurgy (SAIMM), and has wide ranging experience in mine design,
project execution, operations and mineral resource management. He
has been involved with Keras for a number of years, initially
overseeing the bulk sample at the Nayéga Manganese Mine in Togo and
more recently he was integral to the build and delivery of the
processing plant at the Diamond Creek phosphate mine in the US .
Mr. Stacey will continue in his position as Chief Operating Officer
and is also a Director of Keras' 100% owned subsidiary, Southern
Iron Limited.
Russell Lamming, CEO commented, "We are delighted to welcome
Graham to our Board as he has played a significant role in the
Company's key developments to date. His in-depth knowledge of our
business and broad range of expertise will continue to be
invaluable as we seek to maximise the potential of our assets going
forward. This purchase of shares by all the Directors underlines
our ongoing commitment and support for the Company and our belief
in the value held within our asset base."
The information required by Rule 17 and paragraph (g) of
Schedule 2 of the AIM Rules for Companies in relation to the
appointment of Graham David Stacey (age 48) is as follows :
Current directorships Past directorships held within
last five years
Tenement Mining (Pty) Ltd N/A
Moliwave (Pty) Ltd
Afri Solar Solutions (Pty) Ltd
Southern Iron Limited
-------------------------------
Including the issue of Salary Shares, Mr Stacey currently holds
43,739,000 Ordinary Shares in the Company. Additionally, Mr Stacey
holds the following Options to acquire new Ordinary Shares.
Expiry Date
------------ ----------------
Name Exercise Price 17/01/20 17/01/2021 17/01/2022
---------------- ----------- ----------- -----------
G D Stacey GBP0.001639 10,000,000 10,000,000 10,000,000
---------------- ----------- ----------- -----------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: 1. Brian Moritz
2. Dave Reeves
3. Graham Stacey
------------------------------------ ----------------------------------
2. Reason for the notification
------------------------------------------------------------------------
a) Position/status: 1. Non-executive chairman
2. Non-executive Director
3. Executive Director &
Chief Operating Officer
------------------------------------ ----------------------------------
b) Initial notification/amendment: Initial notification
------------------------------------ ----------------------------------
3. Details of the issuer emission allowance market
participant, auction platform, auctioneer or auction
monitor
------------------------------------------------------------------------
a) Name: Keras Resources plc
------------------------------------ ----------------------------------
b) LEI: 213800OZFKFM2N4R4F47
------------------------------------ ----------------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place
where transactions have been conducted
------------------------------------------------------------------------
a) Description of the Ordinary shares of 0.01
financial instrument, pence each
type of instrument:
ISIN: GB00B649J414
Identification code:
------------------------------------ ----------------------------------
b) Nature of the transaction: 1. Purchase of Ordinary
Shares
2. Purchase of Ordinary
Shares
3. Issue of new Ordinary
Shares in lieu of cash
------------------------------------ ----------------------------------
c) Price(s) and volume(s): Prices(s) Volume(s)
1. 0.05814 17,200,000
---------- -----------
2. 0.0568 17,600,000
---------- -----------
3. 0.0600 12,500,000
---------- -----------
------------------------------------ ----------------------------------
d) Aggregated information: Multiple transactions as
Aggregated volume: in 4 c) above
Price: N/A
N/A
------------------------------------ ----------------------------------
e) Date of transaction: 08/11/2021
------------------------------------ ----------------------------------
f) Place of transaction 1. XLON
2. XLON
3. Off Market
------------------------------------ ----------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Joanne Lamming
----------------------------------- -----------------------------------
2. Reason for the notification
------------------------------------------------------------------------
a) Position/status: PCA of Russell Lamming -
CEO of the Company
----------------------------------- -----------------------------------
b) Initial notification/amendment: Initial notification
----------------------------------- -----------------------------------
3. Details of the issuer emission allowance market
participant, auction platform, auctioneer or auction
monitor
------------------------------------------------------------------------
a) Name: Keras Resources plc
----------------------------------- -----------------------------------
b) LEI: 213800OZFKFM2N4R4F47
----------------------------------- -----------------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place
where transactions have been conducted
------------------------------------------------------------------------
a) Description of the Ordinary shares of 0.01
financial instrument, pence each
type of instrument:
ISIN: GB00B649J414
Identification code:
----------------------------------- -----------------------------------
b) Nature of the transaction: Purchase of Ordinary Shares
----------------------------------- -----------------------------------
c) Price(s) and volume(s): Prices(s) Volume(s)
1. 0.0547 18,180,987
---------- -----------
----------------------------------- -----------------------------------
d) Aggregated information: N/A Single transaction as
Aggregated volume: in 4 c) above
Price: N/A
N/A
----------------------------------- -----------------------------------
e) Date of transaction: 08/11/2021
----------------------------------- -----------------------------------
f) Place of transaction XLON
----------------------------------- -----------------------------------
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 ('MAR') which has
been incorporated into UK law by the European Union (Withdrawal)
Act 2018.
For further information please visit www.kerasplc.com , follow
us on Twitter @kerasplc or contact the following:
Russell Lamming Keras Resources plc annabel@kerasplc.com
Annabel Redford
Nominated Adviser & Joint
Broker SP Angel Corporate Finance +44 (0) 20 3470
Ewan Leggat / Charlie LLP 0470
Bouverat
Joint Broker Shard Capital Partners +44 (0) 207 186
Damon Heath / Erik Woolgar LLP 9900
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END
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