Harvest Minerals Ltd – Issue of Performance Shares

23 May 2018

As announced on 5 February 2018, the Company has put in place an incentive scheme for Executive Directors and Senior Management (together, “Management”).  The Tranche 3 performance condition has now been achieved, being total sales of 30,000 tonnes or more.  As such, the Company has issued, in aggregate, 1.5 million new Ordinary Shares to Management (the “Tranche 3 Performance Shares”) as follows:


Name Number of Tranche 3 Performance Shares issued Resultant Ordinary Share holding in the Company
Brian McMaster 500,000 2,580,834
Luiz Azevedo 500,000 1,010,000
Mark Heyhoe 250,000 500,000
Luis Clerot 250,000 500,000


Admission to Trading and Total Voting Rights


The above shares rank pari passu with the Company’s existing Ordinary Shares.  Application has been made for these Shares to be admitted to trading on AIM (‘Admission’).  It is expected that Admission will become effective and dealings in these Shares will commence on or around 24 May 2018.


Following the issue of the Tranche 3 Performance Shares, the total issued share capital of the Company consists of 131,838,589 Ordinary Shares with voting rights. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company is 131,838,589 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules.


This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.


For further information please visit or contact:


Harvest Minerals Limited Brian McMaster (Chairman) Tel: +44 (0) 20 7317 6629
Strand Hanson Limited

(Nominated & Financial Adviser)

James Spinney

Ritchie Balmer

Tel: +44 (0)20 7409 3494
Shard Capital Partners


Damon Heath Tel: +44 (0) 20 7186 9900
St Brides Partners Ltd

(Financial PR)

Isabel de Salis

Gaby Jenner

Tel: +44 (0)20 7236 1177



Harvest Minerals (HMI.L) is a Brazilian focused fertiliser producer advancing the 100% owned Arapua Fertiliser Project, which produces KPfértil, a proven, multi-nutrient, slow release, organic fertiliser and remineraliser.  KPfértil offers many economic and agronomic benefits and addresses the significant demand for locally produced fertiliser in Brazil, with its abundant agricultural land; currently, the country imports 90% of the potash it uses but has a target to be self-sufficient in fertilisers by 2020.  Covering 14,946 hectares and located in the heart of the Brazilian agriculture belt in Minas Gerais, Arapua is a shallow, low cost mine with an indicated and inferred resource of 13.07Mt at 3.1% K2O and 2.49% P2O5.  This is based on drilling just 6.7% of the known mineralisation, leaving significant upside potential. This resource is equivalent to over 29 years’ production and the known mineralisation expected to support 100+ years’ production at 450,000 tonnes per annum.



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