KERAS RESOURCES PLC

Director's Dealing • May 27, 2021

National Storage Mechanism | Additional information

RNS Number : 1043A

Keras Resources PLC

27 May 2021

Keras Resources plc / Index: AIM / Epic: KRS / Sector: Mining

27 May 2021

Keras Resources plc ('Keras' or the 'Company')

Change in Director Holdings and Grant of Options

Keras Resources Plc was notified on 24 May 2021 that Mr Russell Lamming, Chief Executive Officer of the Company, having conducted a reconciliation and restructuring of his shareholding in the Company, currently holds a total of 398,003,510 ordinary shares of 0.1p each in the Company ("Ordinary Shares") rather than the 397,003,509 as stated in the RNS released 18 January 2021. Mr Lamming confirms that this change was due to a clerical error. 

As part of the restructuring Mr Lamming has advised that that the registered owners of the total shares disclosed previously as being held by Russell Lamming has been changed without any change in his aggregate disclosable holdings stated above, as listed in the table below.  The transaction by Russell Lamming (CEO), his spouse, Joanne Lamming and Parallel Resources Limited, a company wholly owned by Mr Lamming and Mrs Lamming are listed in the Appendix. The dealings were conducted for the purposes of tax planning and Mr Lamming's total beneficial interest before and after the re-structuring of his interest was 398,003,510 Ordinary Shares, representing 6.33% of the current issued Ordinary Share capital.

As at 27 May 2021, Mr Lamming's total beneficial interest in the Ordinary Share capital of the Company was held as follows:

Legal name of holder	Number of Ordinary Shares	% of Ordinary Share capital
WB Nominees ISAMAX	96,970,000	1.54%
WB Nominees	158,787,570	2.53%
Pershing Securities	142,245,940	2.26%
Total	398,003,510	6.33%

As part of the Company's progression to full commercial operations it has further bolstered its management team and have today awarded options over 15,000,000 new ordinary shares of the Company, further details of which are set out below.  These options are exercisable within 3 years of the vesting dates.

	Share Option Vesting Dates
	17/05/2022	17/05/2023	17/05/2024
Number of shares	5,000,000	5,000,000	5,000,000
Exercise price * (GBP)	0.1210p	0.1210p	0.1210p

* 5 -day volume weighted price ('VWAP') close of business on 14 May 2021

**ENDS**

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 Joint Broker Damon Heath / Erik Woolgar	SP Angel Corporate Finance LLP Shard Capital Partners LLP	+44 (0) 20 3470 0470 +44 (0) 207 186 9900
Financial PR Susie Geliher / Cosima Akerman	St Brides Partners Ltd	+44 (0) 20 7236 1177

Appendix

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Russell Lamming

2.

Reason for the notification

a)

Position/status:

Chief Executive Officer

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:

Identification code:

Ordinary shares of 0.01 pence each

ISIN:    GB00B649J414

b)

Nature of the transaction:

Sale of Shares

c)

Price(s) and volume(s):

	Prices(s)	Volume(s)
1.	0.1100p	45,580,000
2.	0.1210p	32,000,000
3.	0.1110p	1,570,000
4.	0.1100p	72,680,000

d)

Aggregated information:

Aggregated volume:

Price:

Multiple transactions as in 4 c) above

151,830,000

0.112p

e)

Date of transaction:

1.   06/04/2021

2.   13/04/2021

3.   26/04/2021

4.   05/05/2021

f)

Place of transaction

XLON

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Russell Lamming

2.

Reason for the notification

a)

Position/status:

Chief Executive Officer

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:

Identification code:

Ordinary shares of 0.01 pence each

ISIN:    GB00B649J414

b)

Nature of the transaction:

Purchase of Shares through ISA

c)

Price(s) and volume(s):

	Prices(s)	Volume(s)
1.	0.1101p	18,000,000
2.	0.1101p	13,700,000
3.	0.1211p	16,000,000
4.	0.1139p	900,000

d)

Aggregated information:

Aggregated volume:

Price:

Multiple transactions as in 4 c) above

48,600,000

0.114p

e)

Date of transaction:

1.     04/02/2021

2.     12/02/2021

3.     13/04/2021

4.     26/04/2021

f)

Place of transaction

XLON

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Russell Lamming

2.

Reason for the notification

a)

Position/status:

Chief Executive Officer

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:

Identification code:

Ordinary shares of 0.01 pence each

ISIN:    GB00B649J414

b)

Nature of the transaction:

Purchase of Shares through SIPP

c)

Price(s) and volume(s):

	Prices(s)	Volume(s)
1.	0.1100p	34,782,970
2.	0.1100p	36,340,000

d)

Aggregated information:

Aggregated volume:

Price:

Multiple transactions as in 4 c) above

71,122,970

0.1100p

e)

Date of transaction:

1.     06/04/2021

2.     05/05/2021

f)

Place of transaction

XLON

Joanne Lamming

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Joanne Lamming

2.

Reason for the notification

a)

Position/status:

PCA of Russell Lamming

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:

Identification code:

Ordinary shares of 0.01 pence each

ISIN:    GB00B649J414

b)

Nature of the transaction:

Purchase of Shares through ISA

c)

Price(s) and volume(s):

	Prices(s)	Volume(s)
1.	0.1101p	18,000,000
2.	0.1101p	13,700,000
3.	0.1211p	16,000,000
4.	0.1139p	670,000

d)

Aggregated information:

Aggregated volume:

Price:

Multiple transactions as in 4 c) above

48,370,000

0.114p

e)

Date of transaction:

1.     04/02/2021

2.     12/02/2021

3.     13/04/2021

4.     26/04/2021

f)

Place of transaction

XLON

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Joanne Lamming

2.

Reason for the notification

a)

Position/status:

PCA of Russell Lamming

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:

Identification code:

Ordinary shares of 0.01 pence each

ISIN:    GB00B649J414

b)

Nature of the transaction:

Purchase of Shares through SIPP

c)

Price(s) and volume(s):

	Prices(s)	Volume(s)
1.	0.1100p	34,782,970
2.	0.1100p	36,340,000

d)

Aggregated information:

Aggregated volume:

Price:

Multiple transactions as in 4 c) above

71,122,970

0.1100p

e)

Date of transaction:

1.     06/04/2021

2.     05/05/2021

f)

Place of transaction

XLON

Parallel Resources Limited

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Parallel Resources Limited

2.

Reason for the notification

a)

Position/status:

A Company wholly owned by Mr Lamming and his spouse

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:

Identification code:

Ordinary shares of 0.01 pence each

ISIN:    GB00B649J414

b)

Nature of the transaction:

Sale of Shares

c)

Price(s) and volume(s):

	Prices(s)	Volume(s)
1.	0.1100p	39,200,000
2.	0.1100p	27,400,000
3.	0.1100p	23,985,940

d)

Aggregated information:

Aggregated volume:

Price:

Multiple transactions as in 4 c) above

90,585,940

0.1100p

e)

Date of transaction:

1.     04/02/2021

2.     12/02/2021

3.     06/04/2021

f)

Place of transaction

XLON

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Parallel Resources Limited

2.

Reason for the notification

a)

Position/status:

A Company wholly owned by Mr Lamming and his spouse

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:

Identification code:

Ordinary shares of 0.01 pence each

ISIN:    GB00B649J414

b)

Nature of the transaction:

Purchase of Shares

c)

Price(s) and volume(s):

	Prices(s)	Volume(s)
1.	0.1101p	3,200,000

d)

Aggregated information:

Single transaction as in 4 c) above

	Prices(s)	Volume(s)
1.	0.1101p	3,200,000

e)

Date of transaction:

04/02/2021

f)

Place of transaction

XLON

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