KAVANGO RESOURCES PLC

Remuneration Information • Nov 20, 2023

National Storage Mechanism | Additional information

RNS Number : 9072T

Kavango Resources PLC

19 November 2023

20 ​November 2023

KAVANGO RESOURCES PLC

("Kavango" or "the Company")

Grant of New Share Options

PDMR Disclosures

Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, announces the Board has approved the grant of 48,000,000 share options to directors and PDMRs of the Company (the "Director Options") and 20,000,000 share options to key consultants to the Company (the "Consultant Options").

More information on the terms of the option grants and amendments is provided below.

The Director Options are exercisable at a price of 1.1 pence per Ordinary Share for a period of seven years.

The Consultant Options are exercisable at a price of 1.1 pence per Ordinary Share for a period of seven years.  The Consultant Options are subject to phased vesting over twenty four months from the date of grant, with 2,000,000 of the Consultant Options vesting immediately, 4,000,000 vesting after twelve months and the remainder vesting after twenty four months, subject to continuous employment or commercial engagement with the Company.

The information below is set out in accordance with the requirements of the UK Market Abuse Regulation.

Grant of Options

1	Details of PDMR/person closely associated with them ("PCA")
a)	Name	a)    David Smith b)    Brett Grist c)    Jeremy S Brett d)    Hillary Gumbo e)    Ben Turney
2	Reason for the notification
a)	Position/status	a)    PDMR/Director b)    PDMR/Director c)    PDMR/Director d)    PDMR/Director e)    PDMR/Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Kavango Resources PLC
b)	LEI	2138007PZJFATXWUTS29
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	ISIN: GB00BF0VMV24
b)	Nature of the transaction	Grant of new share options
c)	Price(s) and volume(s)
		Price(s) GBPX	Volume(s)
		a)    1.1p b)    1.1p c)    1.1p d)    1.1p e)    1.1p	a)    1,500,000 b)    2,500,000 c)    2,500,000 d)    1,500,000 e)    40,000,000
d)	Aggregated information -Aggregated Volume -Price	N/A
e)	Date of the transaction	17 November 2023
f)	Place of the transaction	Off-market

For further information, please contact:

Kavango Resources Plc

Ben Turney

+46 7697 406 06

First Equity (Broker)

Jason Robertson             

+44 207 374 2212

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

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