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KROPZ PLC
Remuneration Information • Jan 18, 2022
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Remuneration Information
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National Storage Mechanism | Additional information 
RNS Number : 8310Y
Kropz PLC
18 January 2022
18 January 2022
Kropz Plc
("Kropz" or the "Company")
Long Term Incentive Plan Awards
Kropz Plc (AIM: KRPZ), an emerging African phosphate developer, is pleased to announce that the Company has issued ordinary shares in the Company to key members of the executive management team, including certain Persons Discharging Managerial Responsibilities ("PDMRs"), including Chief Executive Officer Mark Summers and Chief Operating Officer Michelle Lawrence. The issue of ordinary shares are due to awards vesting and issued under its Long Term Incentive Plan ("LTIP Awards"), issued on 31 July 2020 as announced on 4 August 2020.
These LTIP Awards had performance conditions aligned to the implementing the Company's strategic plans, including completion of the construction of the Elandsfontein mine within budget, on schedule and commissioning the plant before 31 December 2021 and updating of the Hinda feasibility study by 31 December 2021. The remuneration committee has confirmed that these performance conditions had been met.
As a result, it was agreed that a total of 6,700,000 ordinary shares in the capital of the Company would be issued at an exercise price of £0.001 an ordinary share. This includes issues to PDMRs as follows:-
| Optionholders | Number of ordinary shares | Total exercise price |
| Mark Summers | 2,350,000 | £2,350 |
| Michelle Lawrence | 2,350,000 | £2,350 |
Following the issue of the ordinary shares, Mark Summers and Michelle Lawrence will hold the following number of ordinary shares and ESOP and LTIP Awards:
| Holder | Ordinary Shares | ESOP and LTIP Awards | |
| No. | % | ||
| Mark Summers | 2,764,889 | 0.30 | 5,762,609 |
| Michelle Lawrence | 2,350,000 | 0.26 | 3,865,137 |
Admission and Total Voting Rights
Application will be made for the 6,700,000 new ordinary shares to admission to trading on the AIM Market of the London Stock Exchange ("AIM"). It is expected that admission will become effective and that dealings in the new ordinary shares will commence at 8.00 a.m. on 24 January 2022 ("Admission").
On Admission, the Company's issued share capital on AIM will consist of 916,271,975 ordinary shares with voting rights. There are no shares held in treasury. 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 of their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
Further details of the PDMR dealings are included below. This information has been provided in accordance with Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.
For further information visit www.kropz.com or contact:
| Kropz Plc | |
| Mark Summers (CEO) | +27 (0)79 744 8708 |
| Grant Thornton UK LLP | Nominated Adviser |
| Samantha Harrison Harrison Clarke George Grainger |
+44 (0) 20 7383 5100 |
| Hannam & Partners | Broker |
| Andrew Chubb Ernest Bell |
+44 (0)20 7907 8500 |
| Tavistock | Financial PR & IR (UK) |
| Nick Elwes Jos Simson Oliver Lamb |
+44 (0) 207 920 3150 [email protected] |
| R&A Strategic Communications | PR (South Africa) |
| James Duncan | +27 (0) 11 880 3924 [email protected] |
About
Kropz is an emerging African explorer and developer of plant nutrient feed minerals with phosphate projects in South Africa and the Republic of Congo. The vision of the Group is to become a leading independent phosphate rock producer and to develop into an integrated, mine-to-market plant nutrient company focusing on sub-Saharan Africa.
ANNEX - PDMR notifications
Template for notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||||
| a) | Name | Mark Summers | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | Chief Executive Officer | |||
| b) | Initial notification /Amendment | Initial | |||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) | Name | Kropz plc | |||
| b) | LEI | 2138005Y467BCQ3QOT77 | |||
| 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 | |||
| Identification code | GB00BZ1HLP69 | ||||
| b) | Nature of the transaction | Exercise of options | |||
| c) | Price(s) and volume(s) | ||||
| Price(s) | Volume(s) | ||||
| £0.001 | 2,350,000 | ||||
| d) | Aggregated information | ||||
| - Aggregated volume | N/A | ||||
| - Price | |||||
| e) | Date of the transaction | 18 January 2022 | |||
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||||
| a) | Name | Michelle Lawrence | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | Chief Operating Officer | |||
| b) | Initial notification /Amendment | Initial | |||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) | Name | Kropz plc | |||
| b) | LEI | 2138005Y467BCQ3QOT77 | |||
| 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 | |||
| Identification code | GB00BZ1HLP69 | ||||
| b) | Nature of the transaction | Exercise of options | |||
| c) | Price(s) and volume(s) | ||||
| Price(s) | Volume(s) | ||||
| £0.001 | 2,350,000 | ||||
| d) | Aggregated information | ||||
| - Aggregated volume | N/A | ||||
| - Price | |||||
| e) | Date of the transaction | 18 January 2022 | |||
| f) | Place of the transaction | Outside a trading venue |
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