REG - Salt Lake Potash Ltd - Completion of Placement and Issue of Shares

Salt Lake PotashAnnouncement

11/02/2021 07:12

RNS Number : 7737O
  
Salt Lake Potash Limited
  
11 February 2021
  
 





11 February 2021


AIM/ASX Code: SO4
 




 




SALT LAKE POTASH LIMITED
COMPLETION OF PLACEMENT




Salt Lake Potash Limited (SO4 or the Company) is pleased to announce that it has now completed the placement of 130.0 million new ordinary shares of the Company, to raise gross proceeds of A$52.0 million (Placement), first announced on 11 December 2020.  
The second tranche of the Placement to Directors has been completed following shareholder approval at a General Meeting held on 22 January 2021. The issue comprised 5,025,000 ordinary shares of no par value (Ordinary Shares) at a price of A$0.40 per share, including 3,000,000 shares subscribed for by the Company's Chairman, Mr Ian Middlemas and 500,000 shares by the CEO, Mr Tony Swiericzuk. Further information is set out below.
The Company has also issued 500,000 Ordinary Shares to an employee in lieu of 500,000 Performance Rights that had vested, but expired on 31 December 2021.
Settlement and dealings
Application has been made to the AIM Market of the London Stock Exchange ("AIM") for the admission of the 5,025,000 Ordinary Shares issued under the Placement and the 500,000 Ordinary Shares issued to an employee, which rank pari passu with the Company's existing issued Ordinary Shares, to be admitted to trading. Dealings on AIM for the 5,025,000 Ordinary Shares issued under the Placement are expected to commence at 8:00am on or around 12 February 2021. Dealings on AIM for the 500,000 Ordinary Shares issued to an employee are expected to commence at 8:00am on or around 15 February 2021.
A prospectus to comply with section 708A(11) of the Corporations Act has also been lodged with ASIC and ASX today. A copy of the prospectus is available to view on the Company's website: www.so4.com.au
Total Voting Rights
For the purposes of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules (DTRs), following Admission of the 5,025,000 Ordinary Shares issued under the Placement and the 500,000 Ordinary Shares issued to an employee, SO4 will have 736,527,863 Ordinary Shares in issue with voting rights attached. Salt Lake holds no shares in treasury. This figure of 736,527,863 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.
Directors' interests
Following the issue of these shares, the directors will have the following interests in shares:
 




 


Number of Ordinary Shares issued under the Placement


Total Number of Ordinary Shares following issue under the Placement


Percentage of enlarged issued share capital




Ian Middlemas


3,000,000


20,000,000


2.72%




Tony Swiericzuk


500,000


5,204,470


0.71%




Matthew Bungey


150,000


2,014,075


0.27%




Philip Montgomery


1,250,000


1,250,000


0.17%




Peter Thomas


125,000


245,000


0.03%




Mr Swiericzuk also holds an indirect interest in 5 million unlisted options and 5,879,377 performance rights. Mr Bungey also holds an interest in 450,000 unlisted options and 750,000 performance rights. Mr Montgomery and Mr Thomas both hold an interest in 500,000 unlisted options.
The Notifications below, made in accordance with the requirements of the UK Market Abuse Regulation provide additional information. 
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 / 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




 
 
Notification of Transactions of Persons Discharging Managerial Responsibility and Persons Closely Associated with them
 




1 
 


Details of the person discharging managerial responsibilities / person closely associated 
 




a) 
 


Name 
 


Tony Swiericzuk 




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 
 


Salt Lake Potash Limited




b) 
 


LEI 
 


213800ZYZHFUDQ784B24




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 


Ordinary shares of  no par value




 


 




Identification code 


AU000000SO44




 


 




b) 
 


Nature of the transaction 
 


Subscription for cash in a placement by the Company




c) 
 


Price(s) and volume(s) 


 


 


 


 




 


 


Price(s)


Volume(s)


 




 


 


A$0.40


500,000


 




 


 


 


 


 




d) 
 


Aggregated information 


 




 


 




- Aggregated volume


Aggregate volume: 500,000




- Price


Aggregate price: 40 Australian cents




 


Aggregate total: A$200,000




 


 




e) 


Date of the transaction 


11 February 2021




f) 


Place of the transaction 


Off market transaction




 




1 
 


Details of the person discharging managerial responsibilities / person closely associated 
 




a) 
 


Name 
 


Ian Middlemas 




2 
 


Reason for the notification 
 




a) 
 


Position/status 
 


Chairman




b) 
 


Initial notification /Amendment 
 


Initial notification




3 
 


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




a) 
 


Name 
 


Salt Lake Potash Limited




b) 
 


LEI 
 


213800ZYZHFUDQ784B24




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 


Ordinary shares of  no par value




 


 




Identification code 


AU000000SO44




 


 




b) 
 


Nature of the transaction 
 


Subscription for cash in a placement by the Company




c) 
 


Price(s) and volume(s) 


 


 


 


 




 


 


Price(s)


Volume(s)


 




 


 


A$0.40


3,000,000


 




 


 


 


 


 




d) 
 


Aggregated information 


 




 


 




- Aggregated volume


Aggregate volume: 3,000,000




- Price


Aggregate price: 40 Australian cents




 


Aggregate total: A$1,200,000




 


 




e) 


Date of the transaction 


11 February 2021




f) 


Place of the transaction 


Off market transaction




 




1 
 


Details of the person discharging managerial responsibilities / person closely associated 
 




a) 
 


Name 
 


Philip Montgomery




2 
 


Reason for the notification 
 




a) 
 


Position/status 
 


Non-Executive Director




b) 
 


Initial notification /Amendment 
 


Initial notification




3 
 


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




a) 
 


Name 
 


Salt Lake Potash Limited




b) 
 


LEI 
 


213800ZYZHFUDQ784B24




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 


Ordinary shares of  no par value




 


 




Identification code 


AU000000SO44




 


 




b) 
 


Nature of the transaction 
 


Subscription for cash in a placement by the Company




c) 
 


Price(s) and volume(s) 


 


 


 


 




 


 


Price(s)


Volume(s)


 




 


 


A$0.40


1,250,000


 




 


 


 


 


 




d) 
 


Aggregated information 


 




 


 




- Aggregated volume


Aggregate volume: 1,250,000




- Price


Aggregate price: 40 Australian cents




 


Aggregate total: A$500,000




 


 




e) 


Date of the transaction 


11 February 2021




f) 


Place of the transaction 


Off market transaction




 




1 
 


Details of the person discharging managerial responsibilities / person closely associated 
 




a) 
 


Name 
 


Matthew Bungey




2 
 


Reason for the notification 
 




a) 
 


Position/status 
 


Non-Executive Director




b) 
 


Initial notification /Amendment 
 


Initial notification




3 
 


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




a) 
 


Name 
 


Salt Lake Potash Limited




b) 
 


LEI 
 


213800ZYZHFUDQ784B24




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 


Ordinary shares of  no par value




 


 




Identification code 


AU000000SO44




 


 




b) 
 


Nature of the transaction 
 


Subscription for cash in a placement by the Company




c) 
 


Price(s) and volume(s) 


 


 


 


 




 


 


Price(s)


Volume(s)


 




 


 


A$0.40


150,000


 




 


 


 


 


 




d) 
 


Aggregated information 


 




 


 




- Aggregated volume


Aggregate volume: 150,000




- Price


Aggregate price: 40 Australian cents




 


Aggregate total: A$60,000




 


 




e) 


Date of the transaction 


11 February 2021




f) 


Place of the transaction 


Off market transaction




 




1 
 


Details of the person discharging managerial responsibilities / person closely associated 
 




a) 
 


Name 
 


Peter Thomas




2 
 


Reason for the notification 
 




a) 
 


Position/status 
 


Non-Executive Director




b) 
 


Initial notification /Amendment 
 


Initial notification




3 
 


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




a) 
 


Name 
 


Salt Lake Potash Limited




b) 
 


LEI 
 


213800ZYZHFUDQ784B24




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 


Ordinary shares of  no par value




 


 




Identification code 


AU000000SO44




 


 




b) 
 


Nature of the transaction 
 


Subscription for cash in a placement by the Company




c) 
 


Price(s) and volume(s) 


 


 


 


 




 


 


Price(s)


Volume(s)


 




 


 


A$0.40


125,000


 




 


 


 


 


 




d) 
 


Aggregated information 


 




 


 




- Aggregated volume


Aggregate volume: 125,000




- Price


Aggregate price: 40 Australian cents




 


Aggregate total: A$50,000




 


 




e) 


Date of the transaction 


11 February 2021




f) 


Place of the transaction 


Off market transaction




 
 
 
 

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