RNS Number : 7392T
Kodal Minerals PLC
16 November 2023

Kodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining

16 November 2023

Kodal Minerals plc

("Kodal Minerals", "Kodal" or the "Company")

Exercise of Options, Warrants and Performance Share Rights,

change to director shareholdings

and change to Total Voting Rights

Kodal Minerals, the mineral exploration and development company focused on lithium and gold assets in West Africa, announces that it has received notices of exercise for options ("Options"), warrants ("Warrants") and Performance Share Rights from certain directors, former directors, senior management and consultants of the Company to subscribe for a total of 280,833,333 new ordinary shares of 0.03125 pence each in the Company ("New Ordinary Shares") (together, the "exercise(s)"). Total subscription proceeds for the Company from these exercises is £651,833.

Application will be made for the 280,833,333 New Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on or around 22 November 2023.

Director exercises of Options and Performance Share Rights

Steven Zaninovich, Robert Wooldridge and Charles Joseland have exercised Options over, in aggregate, 92,916,666 New Ordinary Shares, as set out in the table below, which also sets out their resultant shareholdings.

In addition, the Company has received notice from Bernard Aylward to exercise his Performance Share Rights (as announced on 27 August 2021) over 70 million New Ordinary Shares at a subscription price of 0.03125 pence per share. This follows the satisfaction of the vesting condition relating to securing of finance for the construction of the Bougouni Lithium Project in Mali ("Bougouni"), as announced by the Company on 15 November 2023. Bernard Aylward's resultant shareholding is set out in the table below.

Name

No. of New Ordinary Shares issued on exercise

Subscription amount (£)

Total No. of Ordinary

Shares held following exercise

Percentage of the enlarged

share capital

Bernard Aylward

70,000,000

£21,875.00

321,364,799

1.59%

Steven Zaninovich

26,666,666

£52,000.00

33,809,513

0.17%

Robert Wooldridge

16,250,000

£59,750.00

186,223,858

0.92%

Charles Joseland

50,000,000

£160,000.00

61,250,000

0.30%

The Company has also received notice from Mohamed Niare (Country Manager, Mali) to exercise his Performance Share Rights (as announced on 27 August 2021) over 10 million New Ordinary Shares at a subscription price of 0.03125 pence per share.

Details of the exercises in which directors and PDMRs are interested are set out in the table at the end of this announcement, which has been provided in accordance with the requirements of the UK Market Abuse Regulation.

Total voting rights

Upon Admission, the issued share capital of the Company will consist of 20,241,116,260 ordinary shares of 0.01325p each. The Company holds no shares in treasury. The total number of voting rights in the Company from Admission will therefore be 20,241,116,260. 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 to their interest in the Company under the Disclosure Guidance and Transparency Rules of the UK Financial Conduct Authority.

**ENDS**

For further information, please visit www.kodalminerals.com or contact the following:

Kodal Minerals plc

Bernard Aylward, CEO

Tel: +61 418 943 345

Allenby Capital Limited, Nominated Adviser

Jeremy Porter/Vivek Bhardwaj/Nick Harriss

Tel: 020 3328 5656

SP Angel Corporate Finance LLP, Financial Adviser & Joint Broker

John Mackay/Adam Cowl

Tel: 020 3470 0470

Canaccord Genuity Limited, Joint Broker

James Asensio/Gordon Hamilton

Tel: 0207 523 4680

Buchanan, Financial PR

Bobby Morse/Oonagh Reidy

Tel: +44 (0)20 7466 5000

kodal@buchanancomms.co.uk

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Directors:

Bernard Aylward

CEO

Steve Zaninovich

Operations Director

Robert Wooldridge

Chairman

Charles Joseland

Non-Executive Director

2

Reason for the notification

a)

Position/status

See 1 a) above

b)

Initial notification /Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Kodal Minerals plc

b)

LEI

213800VKFS7TS32EGI81

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 0.03125P


GB00BH3X7Y70

b)

Nature of the transaction

Exercise of Share Options

Exercise of Performance Share Rights

c)

Price(s) and volume(s)

Name

Options or Performance Share Rights

Volume

Exercise Price

Bernard Aylward

Performance Share Rights

70,000,000

0.03125p

Steve Zaninovich

Options

13,333,333

13,333,333

0.14p

0.25p

Robert Wooldridge

Options

6,250,000

10,000,000

0.38p

0.36p

Charles Joseland

Options

25,000,000

25,000,000

0.30p

0.34p

d)

Aggregated information

- Aggregated volume

- Price

162,916,666 Ordinary Shares

£293,625.00

e)

Date of transaction

16 November 2023

f)

Place of the transaction

Outside a trading venue

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