Issue of Equity and Director's Holding

RNS Number : 9036L

Kodal Minerals PLC

09 July 2014

 



9 July 2014

Kodal Minerals plc

("Kodal Minerals" or the "Company")

Issue of Equity and Director's Shareholding

Kodal Minerals, the mining exploration company owning extraction licences for a phosphate and iron (titanomagnetite) project in southern Norway, has issued a total of 2,250,000 new ordinary shares of £0.0003125 each in the Company ("Ordinary Shares") in lieu of fees payable to a director of the Company for the quarter to 30 June 2014, as previously disclosed and as per the terms of his service contracts, as well as for part payment of services rendered by Skapa Mining Services.  These new Ordinary Shares were issued at a subscription price of £0.0044 each, being the average closing price of Ordinary Shares over the last five trading days of June 2014, being the end of the quarter period to which the fees relate.

The new Ordinary Shares were issued as follows:

Name of shareholder	Title	Number of new Ordinary Shares issued
Ismail Emin Eyi	Non-executive director	1,136,364
Skapa Mining Services	Consultant	1,113,636
Total:		2,250,000

Accordingly, Emin Eyi is now interested in the following Ordinary Shares:

Name of Shareholder	Number of Ordinary Shares Held	Percentage of issued share capital of the Company
Ismail Emin Eyi	31,957,310	4.12%

The 2,250,000 new Ordinary Shares rank pari passu in all respects with the existing Ordinary Shares. Application will be made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective on or around 16 July 2014.

Total Voting Rights

Following the issue of the 2,250,000 new Ordinary Shares, the Company's issued share capital consists of 774,849,428 ordinary shares of £0.0003125 each, with one voting right each. The Company does not hold any ordinary shares in treasury. Therefore the total number of ordinary shares and voting rights in the Company is 774,849,428.

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 to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Contact details:

Kodal Minerals plc Luke Bryan, CEO	Tel: [phone]
Allenby Capital Limited, Nominated Adviser Jeremy Porter/Nick Harriss	Tel: [phone]
SP Angel Corporate Finance LLP, Financial Adviser & Broker John Mackay/Laura Harrison	Tel: [phone]
Yellow Jersey PR Ltd, Financial PR Dominic Barretto/Kelsey Traynor	Tel: [phone]

 

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