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Directors' Dealings

RNS Number : 7677V
African Potash Ltd
12 August 2015
 

African Potash Limited / Index: AIM / Epic: AFPO / Sector: Mining

12 August 2015

African Potash Limited ("African Potash" or "the Company")

Directors' Dealings

 

African Potash, the AIM listed exploration company focused on sub-Saharan potash assets, announces that the Company's non-executive directors have agreed to accept new ordinary shares in the capital of the Company (the "Fee Shares"), in lieu of fees for the period 1 January 2015 to 31 July 2015. Details of the number of Fee Shares to be issued to each non-executive director, and their respective interests in the Company's ordinary share capital following the issue of the Fee Shares, are set out below.

 



Following issue of Fee Shares

Director

Number of Fee Shares

Number of shares held

% of issued share capital held

 

Ed Marlow

6,997,282

23,576,229

3.12%

 

Simon Dorling

2,075,000

2,075,000

 

0.27%

 

Jean-Pierre Conrad

2,569,021

3,095,337

 

0.41%

 

 

The Fee Shares are being issued at 0.552 pence per share, being the average closing price of the Company's ordinary shares (the "Shares") over the 5 trading days prior to 11 August 2015.

 

In addition, the Company announces that the following options and warrants to subscribe for new Shares have been granted to Chris Cleverly, the Company's Executive Chairman.

 

Options / Warrants

Amount

Exercise Price

Exercise Period

 

Options

10,000,000

0.552p

5 years from 11 August 2015

 

Warrants

1,250,000

2p

Up to and including 16 May 2016

 

Warrants

15,000,000

5p

Up to and including 16 May 2016

 

 

Mr Cleverly has also been awarded 3,000,000 "incentive" Shares held at the discretion of the board and accordingly he now has an interest in 6,000,000 Shares (which represents 0.79% of the issued share capital following the issue of the Fee Shares).

 

Application has been made for the Fee Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will be effective from 17 August 2015. Following Admission, there will be a total of 755,483,946 Shares in issue. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules.

 

**ENDS**

 

For further information visit www.africanpotash.com or contact the following:

 

Chris Cleverly

African Potash Limited

+44 (0) 20 7236 1177

Stewart Dickson

Cantor Fitzgerald Europe

+44 (0) 20 7894 7000      

Jeremy Stephenson

Cantor Fitzgerald Europe

+44 (0) 20 7894 7000      

David Foreman

Cantor Fitzgerald Europe

+44 (0) 20 7894 7000      

Nick Bealer

Cornhill Capital Limited

+44 (0) 20 7710 9610

Charlotte Heap

St Brides Partners Ltd

+44 (0) 20 7236 1177      

Hugo de Salis

St Brides Partners Ltd

+44 (0) 20 7236 1177 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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