Exercise of Options and Performance Share Rights
Kodal Minerals Plc announced that its CEO, Bernard Aylward, and Country Manager, Mohamed Niare, have exercised options and performance share rights, resulting in the subscription for 92,500,000 new ordinary shares for a total of £49,062.50. Bernard Aylward subscribed for 75,000,000 shares at 0.03125 pence each, and Mohamed Niare subscribed for 10,000,000 shares at 0.03125 pence each and 7,500,000 shares at 0.3 pence each. Following these exercises, Bernard Aylward will hold 2.04% of the company's enlarged issued share capital. Application has been made for the new shares to be admitted to trading on AIM on or around 4 February 2026, at which point the total voting rights will be 20,373,199,594.
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Kodal Minerals (AIM: KOD), the West African lithium producer, mineral exploration and development company, announces that it has received notices of exercise for options ("Options") and Performance Share Rights from Bernard Aylward, Chief Executive Officer, and Mohamed Niare, Country Manager - Mali and Cote d'Ivoire for the Company. The notices relate to the subscription for a total of 92,500,000 new ordinary shares of 0.03125 pence each in the Company ("Ordinary Shares") (together, the "exercise(s)") with total subscription proceeds for the Company from the exercises representing £49,062.50.
Bernard Aylward is subscribing for 75,000,000 new Ordinary Shares at a subscription price of 0.03125 pence per new Ordinary Share through exercising his Performance Share Rights. Mohammed Niare is subscribing for 10,000,000 new Ordinary Shares at a subscription price of 0.03125 pence per new Ordinary Share through exercising his Performance Share Rights as well as exercising his Options over 7,500,000 new Ordinary Shares at 0.3 pence per new Ordinary Share.
Following the exercises, Bernard Aylward will own 416,364,799 Ordinary Shares representing 2.04% of the Company's enlarged issued share capital on Admission (as defined below).
Details of the exercises 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.
Admission and total voting rights
Application will be made to the London Stock Exchange plc for the 92,500,000 new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings in the new ordinary Shares will commence on AIM at 8.00 a.m. on or around 4 February 2026.
Upon Admission, the issued share capital of the Company will consist of 20,373,199,594 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 20,373,199,594. 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.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Directors: Bernard Aylward CEO |
| 2 | Reason for the notification | |
| a) | Position/status | See 1 a) above |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Kodal Minerals plc |
| b) | LEI | 213800VKFS7TS32EGI81 |
| a) | Description of the financial instrument, type of instrument Identification code | ordinary shares of 0.03125p GB00BH3X7Y70 |
| b) | Nature of the transaction | Exercise of Performance Share Rights |
| c) | Price(s) and volume(s) | Name Exercise Volume Exercise Price Bernard Aylward Performance Rights 75,000,000 0.03125p |
| d) | Aggregated information - Aggregated volume - Price | 75,000,000 Ordinary Shares £23,437.50 |
| e) | Date of transaction | 29 January 2026 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | PDMR: Mohamed Niare Country Manager - Mali and Cote d'Ivoire |
| 2 | Reason for the notification | |
| a) | Position/status | See 1 a) above |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Kodal Minerals plc |
| b) | LEI | 213800VKFS7TS32EGI81 |
| a) | Description of the financial instrument, type of instrument Identification code | ordinary shares of 0.03125P GB00BH3X7Y70 |
| b) | Nature of the transaction | Exercise of Options and Performance Share Rights |
| c) | Price(s) and volume(s) | Name Rights Volume Exercise Price Mohamed Niare Performance Rights Options 10,000,000 7,500,000 0.03125p 0.3p |
| d) | Aggregated information - Aggregated volume - Price | 17,500,000 Ordinary Shares £25,625 |
| e) | Date of transaction | 29 January 2026 |
| f) | Place of the transaction | Outside a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.