KERAS RESOURCES PLC

Related Party Transaction • Jul 26, 2018

National Storage Mechanism | Additional information

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RNS Number : 8600V

Keras Resources PLC

26 July 2018

26 July 2018

Keras Resources plc

("Keras" or the "Company")

Issue of Shares and Director/PDMR Shareholdings

Notification of transactions by persons discharging managerial responsibilities

The Company wishes to announce that in-line with its ongoing strategy to preserve its cash resources, Keras announces that it has today issued 27,333,334 ordinary shares of 0.1 pence each in the Company ("New Ordinary Shares"), to Brian Moritz in lieu of unpaid salary for the period of 41 months to 30 September 2016. As noted in the Company's Annual Report for the year ended 30 September 2017 fees payable to Brian Moritz amounted to  £102,500. Mr Moritz has confirmed that the pay-as-you-earn tax ("PAYE") arising from the settlement of these fees will be paid by him personally. The New Ordinary Shares have been issued at a price of 0.375 pence being the closing share price on 25 July 2018.

Director	New Ordinary Shares issued at 0.375 pence	Total number of ordinary shares now held	% of enlarged issued share capital now held
Brian Moritz (Non-executive Chairman)	27,333,334	76,960,512	3.36 %

Application will be made for the New Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on or around 31 July 2018.  Following Admission, the Company's issued share capital will consist of 2,289,133,439 ordinary shares of 0.1 pence each. The above figure (2,289,133,439) may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in the Company, under the Disclosure Guidance and Transparency Rules.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Brian Moritz
2	Reason for the notification
a)	Position/status	Non-executive Chairman
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 financial instrument, type of instrument	ordinary shares of 0.1p each
Identification code	ISIN: GB00B649J414
b)	Nature of the transaction	Issue of shares in lieu of unpaid salary
c)	Price(s) and volume(s)
		Price(s)	Volume(s)
		0.375p	27,333,334
d)	Aggregated information
- Aggregated volume	As above
- Price
e)	Date of the transaction	26 July 2018
f)	Place of the transaction	London

**ENDS**

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

For further information please visit www.kerasplc.com, follow us on Twitter @kerasplc or contact the following:

Russell Lamming	Keras Resources plc	info@kerasplc.com
Nominated Adviser / Joint Broker
Ewan Leggat / Charlie Bouverat	SP Angel Corporate Finance LLP	+44 (0) 20 3470 0470
Financial PR Susie Geliher / Charlotte Page	St Brides Partners Ltd	+44 (0) 20 7236 1177

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