SYLVANIA PLATINUM LIMITED _____________________________________________________________________________________________________________________________
30 September 2022
Sylvania Platinum Limited ("Sylvania", the "Company" or the "Group")
Exercise of vested bonus shares
Sylvania (AIM: SLP) today announces that certain Directors, senior management and employees have, following the vesting of deferred share awards, granted to them in August 2019 under the Sylvania Platinum Limited Deferred Share Award Scheme, exercised their rights over a total of 1,755,000 Ordinary Shares in the capital of the Company. This has been satisfied by issuing Ordinary Shares held in Treasury.
702,300 of the Ordinary Shares were immediately repurchased by the Company at the vesting price of 96.5 pence, in order to satisfy the tax liabilities of the PDMRs and employees.
A further 382,700 Ordinary Shares have been repurchased by the Company at the 30-day VWAP of 90.91 pence, calculated at the close of business on 29 September 2022. These Ordinary Shares were repurchased at the request of certain employees under the terms of the Deferred Share Award Rules.
All of the 1,085,000 Ordinary Shares repurchased by the Company are being held in Treasury.
Of the total 1,755,000 Bonus Shares being exercised the following relate to Directors and senior management of the Company:
Bonus | Shares sold | % of share | |||||||||||||||||||
Bonus | Total | capital | |||||||||||||||||||
Sales for | Price | ||||||||||||||||||||
shares | Other | Price | |||||||||||||||||||
Director | tax and | shares | shares held | (Shares | |||||||||||||||||
being | per | share | per | ||||||||||||||||||
dealing | retained | after event | with voting | ||||||||||||||||||
exercised | share | sales | share | ||||||||||||||||||
costs | rights) | ||||||||||||||||||||
Jaco Prinsloo | 165,000 | 74,250 | 96.5p | - | - | 90,750 | 1,463,144 | 0.55% | |||||||||||||
Lewanne Carminati | 150,000 | 67,500 | 96.5p | - | - | 82,500 | 1,326,831 | 0.50% | |||||||||||||
Bonus | Shares sold | Total | % of share | ||||||||||||||||||
Sales for | Price | Bonus | capital | ||||||||||||||||||
shares | Other | Price | shares | ||||||||||||||||||
PDMR | tax and | Shares | (Shares with | ||||||||||||||||||
being | per | share | per | held after | |||||||||||||||||
dealing | retained | voting | |||||||||||||||||||
exercised | share | sales | share | event | |||||||||||||||||
costs | rights) | ||||||||||||||||||||
Albert Jordaan | 150,000 | 67,500 | 96.5p | 10,000 | 90.91p | 72,500 | 259,000 | 0.10% |
Following the above transaction, the Company's issued share capital amounts to 280,155,657 Ordinary Shares of which a total of 13,354,869 Ordinary Shares are held in Treasury. Therefore, the total number of Ordinary Shares with voting rights in Sylvania 266,800,788 Ordinary Shares.
CONTACT DETAILS
For further information, please contact: | ||
Jaco Prinsloo CEO | +27 | 11 673 1171 |
Lewanne Carminati CFO | ||
Nominated Adviser and Broker | ||
Liberum Capital Limited | +44 | (0) 20 3100 2000 |
Richard Crawley / Scott Mathieson / Kane Collings | ||
Communications | ||
Alma PR Limited | +44 | (0) 20 3405 0205 |
Justine James / Josh Royston / Matthew Young | sylvania@almapr.co.uk |
CORPORATE INFORMATION
Registered and postal address: Sylvania Platinum Limited Clarendon House
2 Church Street
Hamilton HM 11 Bermuda
SA Operations postal address: PO Box 976
Florida Hills, 1716
South Africa
Sylvania Website:www.sylvaniaplatinum.com
About Sylvania Platinum Limited
Sylvania Platinum is a lower-cost producer of platinum group metals (PGM) (platinum, palladium and rhodium) with operations located in South Africa. The Sylvania Dump Operations (SDO) comprises six chrome beneficiation and PGM processing plants focusing on the retreatment of PGM-rich chrome tailings materials from mines in the Bushveld Igneous Complex. The SDO is the largest PGM producer from chrome tailings re-treatment in the industry. The Group also holds mining rights for PGM projects in the Northern Limb of the Bushveld Complex.
For more information visithttps://www.sylvaniaplatinum.com/
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse regulation (EU) no.596/2014 as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019.
For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Company by Jaco Prinsloo.
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Jacobus Johannes Prinsloo | ||||
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 | Sylvania Platinum Limited | ||||
b) | LEI | 2138005DSKINAZ4OA492 | ||||
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 | Ordinary Shares of USD 0.01 each | ||||
instrument, type of instrument | ||||||
Identification code | BMG864081044 | |||||
b) | Nature of the transaction | Exercise of Share Awards | ||||
c) | Price(s) and volume(s) | |||||
Price(s) | Volume(s) | |||||
96.5p | 165,000 | |||||
d) | Aggregated information | n/a Single Transaction | ||||
− | Aggregated volume | |||||
− | Price | |||||
e) | Date of the transaction | 29 September 2022 | ||||
f) | Place of the transaction | Off Market | ||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Jacobus Johannes Prinsloo | ||||
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 | Sylvania Platinum Limited | ||||
b) | LEI | 2138005DSKINAZ4OA492 | ||||
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 | Ordinary Shares of USD 0.01 each | ||||
instrument, type of instrument | ||||||
Identification code | BMG864081044 | |||||
b) | Nature of the transaction | Sale of exercised Share Awards to satisfy the tax liability | ||||
c) | Price(s) and volume(s) | |||||
Price(s) | Volume(s) | |||||
96.5p | 74,250 | |||||
d) | Aggregated information | n/a Single Transaction | ||||
− | Aggregated volume | |||||
− | Price | |||||
e) | Date of the transaction | 29 September 2022 | ||||
f) | Place of the transaction | Off Market | ||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Lewanne Carminati | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Financial Officer | ||||
b) | Initial notification/ Amendment | Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction | |||||
monitor | ||||||
a) | Name | Sylvania Platinum Limited | ||||
b) | LEI | 2138005DSKINAZ4OA492 | ||||
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 | Ordinary Shares of USD 0.01 each | ||||
instrument, type of instrument | ||||||
Identification code | BMG864081044 | |||||
b) | Nature of the transaction | Exercise of Share Awards | ||||
c) | Price(s) and volume(s) | |||||
Price(s) | Volume(s) | |||||
96.5p | 150,000 | |||||
d) | Aggregated information | n/a Single Transaction | ||||
− | Aggregated volume | |||||
− | Price | |||||
e) | Date of the transaction | 29 September 2022 | ||||
f) | Place of the transaction | Off Market | ||||
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Disclaimer
Sylvania Platinum Limited published this content on 30 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 October 2022 16:11:47 UTC.
