REG - Salt Lake Potash Ltd - AGM Statement. Issue of Ordinary Shares

Salt Lake PotashAnnouncement

23/09/2020 12:30

RNS Number : 8975Z
  
Salt Lake Potash Limited
  
23 September 2020
  
 




23 September 2020


AIM/ASX Code: SO4
 



 



SALT LAKE POTASH LIMITED
SHAREHOLDER MEETING RESULTS 



Salt Lake Potash Limited ("the Company") advises that a General Meeting of the Company was held today, 23 September 2020, at 2.00pm (WST).
The resolutions voted on were in accordance with the Notice of General Meeting as announced on 24 August 2020 and which is available on the Company's website, www.so4.com.au. All resolutions were voted on and carried by way of a poll.
In accordance with Section 251AA of the Corporations Act 2001, the details of the poll and the proxies received in respect of each resolution are set out in the following summary.
 



Resolution


Result


Voting Method


Number of Proxy Votes Received


Number and Percentage of Votes Cast

by Poll




For


Against


Abstain


Proxy's Discretion


For


Against


Abstain




1.   Ratification of prior issue of Institutional Convertible Notes


Carried


Poll


114,466,685


4,941,297


60,968,059


87,680


141,700,577
96.63%


4,941,297
3.37%


60,968,059
 




2.   Approval to issue Shares on conversion of Equatorial Convertible Notes


Carried


Poll


170,644,612


5,044,279 


4,686,250


87,680


197,878,504
97.51%


5,044,279
2.49%


4,686,250
 




3a. Ratification of Prior Placement of Shares - Listing Rule 7.1


Carried


Poll


117,166,382


4,941,297


55,038,458


87,680


144,400,274
96.69%


4,941,297
3.31%


55,038,458
 




3b. Ratification of Prior Placement of Shares - Listing Rule 7.1A


Carried


Poll


117,166,382


4,941,297


55,038,458


87,680


144,400,274
96.69%


4,941,297
3.31%


55,038,458
 




4.   Approval to issue Taurus Options


Carried


Poll


173,011,729


6,899,681


464,631


87,680


200,245,621
96.67%


6,899,681
3.33%


464,631
 




5.   Approval to issue Consultancy Shares


Carried


Poll


169,338,546


5,029,045


5,071,342


87,680


196,222,438
97.50%


5,029,045
2.50%


5,071,342
 



Corporate Presentation
A new presentation giving a virtual tour of the Lake Way project is also now available to view on the Company's website: www.so4.com.au
Exercise of Convertible Notes
Following approval of Resolution 2 above, the Company will issue 22,222,223 fully paid new ordinary shares of no par value (Ordinary Shares) at a conversion price of A$0.45 per Ordinary Share on conversion of the convertible notes issued to Equatorial Resources as announced by the Company on 2 July 2020.
Consultancy Shares 
Following approval of Resolution 5 above, the Company will issue 370,000 fully paid new Ordinary Shares (Consultancy Shares) to Mr Matthew Bungey, a director of the Company, at a price of A$0.50 per Ordinary Share as announced by the Company on 14 August 2020.
Settlement and Dealings
Application has been made to the AIM Market of London Stock Exchange Plc (AIM) for the admission of the 22,592,223 new Ordinary Shares being issued on exercise of the Convertible Notes and on issue of the Consultancy Shares, which rank pari passu with the Company's existing issued Ordinary Shares, to be admitted to trading. Dealings on AIM are expected to commence at 8:00am on or around 25 September 2020 (Admission).
Total Voting Rights
For the purposes of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules (DTRs), following Admission, Salt Lake will have 584,063,699 Ordinary Shares in issue with voting rights attached. Salt Lake does not hold any shares in treasury. This figure of 584,063,699 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 to their interest in the Company, under the ASX Listing Rules or the DTRs.
 For further information please visit www.so4.com.au or contact:
 



Tony Swierizcuk / Richard Knights


Salt Lake Potash Limited


Tel: +61 8 6559 5800




Colin Aaronson / Richard Tonthat / Seamus Fricker


Grant Thornton UK LLP (Nominated Adviser)


Tel: +44 (0) 20 7383 5100




Derrick Lee / Peter Lynch


Cenkos Securities plc (Joint Broker)


Tel: +44 (0) 131 220 6939




Rupert Fane / Ernest Bell


Hannam & Partners (Joint Broker)


Tel: +44 (0) 20 7907 8500



 
This announcement has been authorised for release by the Company Secretary.
 
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
 
Not for release to US wire services or distribution in the United States.
This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and applicable US state securities laws.
 
Forward Looking Statements
This announcement may include forward-looking statements. These forward-looking statements are based on Salt Lake Potash Limited's expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Salt Lake Potash Limited, which could cause actual results to differ materially from such statements. Salt Lake Potash Limited makes no undertaking to subsequently update or revise the forward-looking statements made in this announcement, to reflect the circumstances or events after the date of that announcement.
 

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