REG - Salt Lake Potash Ltd - Result of Meeting. Completion of Placement.

Salt Lake PotashAnnouncement

17/06/2020 09:06

RNS Number : 2210Q
  
Salt Lake Potash Limited
  
17 June 2020
  
 




17 June 2020


AIM/ASX Code: SO4
 



 



SALT LAKE POTASH LIMITED
SHAREHOLDER MEETING RESULTS / COMPLETION OF PLACEMENT



Salt Lake Potash Limited ("the Company") is pleased to announce that it has now completed the placement of 58.8 million new ordinary shares of the Company, to raise gross proceeds of A$20.0 million ("Placement"), first announced on 17 April 2020.  
The second tranche of the Placement has been completed following shareholder approval at a General Meeting held today. The issue comprised 2,755,883 ordinary shares of no par value ("Ordinary Shares") at a price of A$0.34 per share, comprising 505,883 shares subscribed for by the CEO, Mr Tony Swiericzuk, and 2,250,000 shares by the Company's Chairman, Mr Ian Middlemas. 
The Company has also issued 1 Ordinary Share to each holder (a total of 4 shares) of the Class C Performance Shares that expired 12 June 2020, for nil consideration in accordance with the terms and conditions of the Performance Shares.
Application has been made to the AIM Market of the London Stock Exchange ("AIM") for the admission of the 2,755,887 Ordinary 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 22 June 2020 ("Admission").
Corporate Presentation
A new corporate presentation is also now available to view on the Company's website: www.so4.com.au
Shareholder Meeting
The General Meeting of the Company referred to above was held today, 17 June 2020, at 11.00am (WST).
The resolutions voted on were in accordance with the Notice of General Meeting as announced on 15 May 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.             Authorise Issue of Placement Shares to Mr Tony Swiericzuk
 


Passed


Poll


101,265,656


240,942


255,295


78,049


108,844,009
99.78%


240,942
0.22%


255,295
 




2.             Authorise Issue of Placement Shares to Mr Ian Middlemas
 


Passed


Poll


89,219,539


287,059


255,295


78,049


100,308,155
99.71%


287,059
0.29%


255,295
 




3.             Ratification of Prior Placement of Shares
 


Passed


Poll


20,311,565


391,978


35,395,154


78,049


27,674,672
98.60%


391,978
1.40%


35,645,154
 




4.             Ratification of Prior Placement of Shares
 


Passed


Poll


20,296,565


391,978


35,410,154


78,049


27,659,672
98.60%


391,978
1.40%


35,660,154
 

















Total Voting Rights
For the purposes of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules ("DTRs"), following Admission, Salt Lake will have 353,285,840 Ordinary Shares in issue with voting rights attached. Salt Lake holds no shares in treasury. This figure of 353,285,840 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


Percentage of issued share capital




Ian Middlemas


14,250,000


4.03%




Tony Swiericzuk


4,016,146


1.14%



Mr Swiericzuk also holds an indirect interest in 5 million incentive options and 5,788,324 performance rights. 
The Notifications below, made in accordance with the requirements of the EU 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 / 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



 
 
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 
 
 


213800WAVVOPS85N2205




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$0.34


505,883






























d) 
 


Aggregated information 


















- Aggregated volume


Aggregate volume: 505,883
Aggregate price: 34 Australian cents
Aggregate total: A$172,000














- Price
































e) 
 


Date of the transaction 
 
 


17 June 2020




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 
 
 


213800WAVVOPS85N2205




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$0.34


2,250,000






























d) 
 


Aggregated information 


















- Aggregated volume


Aggregate volume: 2,250,000
Aggregate price: 34 Australian cents
Aggregate total: A$765,000














- Price
































e) 
 


Date of the transaction 
 
 


17 June 2020




f) 
 


Place of the transaction 
 
 


Off market transaction



 
 


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