REG - Sovereign Metals Ltd - Issue of Performance Rights
27/09/2024 07:00
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RNS Number : 9925F Sovereign Metals Limited 27 September 2024
SOVEREIGN METALS LIMITED
NEWS RELEASE I 27 SEPTEMBER 2024
ISSUE OF PERFORMANCE RIGHTS
Sovereign Metals Limited (Sovereign or Company) (ASX:SVM, AIM:SVML,
OTCQX:SVMLF) advises that it has today issued 2,000,000 unlisted performance
rights to Directors following shareholder approval on 12 September 2024 as
follows:
· 600,000 unlisted performance rights subject to the "Definitive
Feasibility Study Milestone" expiring on or before 31 October 2025;
· 600,000 performance rights subject to the "Grant of Mining
Licence Milestone" expiring on or before 31 March 2026; and
· 800,000 performance rights subject to the "Final Investment
Decision Milestone" expiring on or before 30 June 2026.
The Company has also issued 2,725,000 unlisted performance rights to key staff
(not PDMRs) as part of their incentive remuneration as follows:
· 917,500 unlisted performance rights subject to the "Definitive
Feasibility Study Milestone" expiring on or before 31 October 2025;
· 917,500 performance rights subject to the "Grant of Mining
Licence Milestone" expiring on or before 31 March 2026; and
· 890,000 performance rights subject to the "Final Investment
Decision Milestone" expiring on or before 30 June 2026.
Further, the following unlisted performance rights lapsed following cessation
of employment (non-PDMR):
· 125,000 performance rights subject to the "Grant of Mining
Licence Milestone" expiring on or before 31 March 2026; and
· 300,000 performance rights subject to the "Final Investment
Decision Milestone" expiring on or before 30 June 2026.
Following the issue and cancellation of these unlisted performance rights, the
Company has the following securities on issue:
· 599,879,879 fully paid ordinary shares (of no par value);
· 10,977,500 unlisted performance rights subject to the "Definitive
Feasibility Study Milestone" expiring on or before 31 October 2025;
· 4,992,500 unlisted performance rights subject to the "Grant of
Mining Licence Milestone" expiring on or before 31 March 2026; and
· 6,190,000 unlisted performance rights subject to the "Final
Investment Decision Milestone" expiring on or before 30 June 2026.
Change of Directors' Interest Notices are provided below.
ENQUIRIES
Dylan Browne
Company Secretary
+61(8) 9322 6322
info@sovereignmetals.com
Nominated Adviser on AIM and Joint Broker
SP Angel Corporate Finance LLP +44 20 3470 0470
Ewan Leggat
Charlie Bouverat
Joint Brokers
Stifel +44 20 7710 7600
Varun Talwar
Ashton Clanfield
Berenberg +44 20 3207 7800
Matthew Armitt
Jennifer Lee
Buchanan + 44 20 7466 5000
Appendix 3Y
Change of Director's Interest Notice
Information or documents not available now must be given to ASX as soon as
available. Information and documents given to ASX become ASX's property and
may be made public.
Introduced 30/09/01 Amended 01/01/11
Name of entity SOVEREIGN METALS LIMITED
ABN 71
120 833 427
A)
We (the entity) give ASX the following information under listing rule 3.19A.2
and as agent for the director for the purposes of section 205G of the
Corporations Act.
Name of Director Benjamin Stoikovich
Date of last notice 24 November 2023
Part 1 - Change of director's relevant interests in securities
In the case of a trust, this includes interests in the trust made available by
the responsible entity of the trust
Note: In the case of a company, interests which come within paragraph (i) of
the definition of "notifiable interest of a director" should be disclosed in
this part.
Direct or indirect interest Direct and Indirect
Nature of indirect interest Selwyn Capital Limited (beneficial interest)
(including registered holder)
Note: Provide details of the circumstances giving rise to the relevant
interest.
Date of change 27 September 2024
No. of securities held prior to change (a) 4,190,000
(b) 600,000
(c) 350,000
(d) 500,000
Class (a) Ordinary Fully Paid Shares
(b) Unlisted Performance Rights subject to the "Definitive Feasibility
Study Milestone" expiring 31 October 2025
(c) Unlisted Performance Rights subject to the "Grant of Mining Licence
Milestone" expiring 31 March 2026
(d) Unlisted Performance Rights subject to the "Final Investment Decision
Milestone" expiring 30 June 2026
Number acquired (b) 300,000
(c) 300,000
(d) 400,000
Number disposed Not applicable
Value/Consideration Not applicable - see nature of change below
Note: If consideration is non-cash, provide details and estimated valuation
No. of securities held after change (a) 4,190,000
(b) 900,000
(c) 650,000
(d) 900,000
Nature of change Issue of Performance Rights following shareholder approval
Example: on-market trade, off-market trade, exercise of options, issue of
securities under dividend reinvestment plan, participation in buy-back
Part 2 - Change of director's interests in contracts
Note: In the case of a company, interests which come within paragraph (ii) of
the definition of "notifiable interest of a director" should be disclosed in
this part.
Detail of contract Not applicable
Nature of interest Not applicable
Name of registered holder Not applicable
(if issued securities)
Date of change Not applicable
No. and class of securities to which interest related prior to change Not applicable
Note: Details are only required for a contract in relation to which the
interest has changed
Interest acquired Not applicable
Interest disposed Not applicable
Value/Consideration Not applicable
Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change Not applicable
Part 3 - +Closed period
Were the interests in the securities or contracts detailed above traded during No
a +closed period where prior written clearance was required?
If so, was prior written clearance provided to allow the trade to proceed Not applicable
during this period?
If prior written clearance was provided, on what date was this provided? Not applicable
Initial notification/Amendment Initial
LEI 213800NSPXSASTENFQ34
Place of transaction Australian Securities Exchange (ASX)
Appendix 3Y
Change of Director's Interest Notice
Information or documents not available now must be given to ASX as soon as
available. Information and documents given to ASX become ASX's property and
may be made public.
Introduced 30/09/01 Amended 01/01/11
Name of entity SOVEREIGN METALS LIMITED
ABN 71
120 833 427
B)
We (the entity) give ASX the following information under listing rule 3.19A.2
and as agent for the director for the purposes of section 205G of the
Corporations Act.
Name of Director Francis (Frank) Eagar
Date of last notice 20 October 2023
Part 1 - Change of director's relevant interests in securities
In the case of a trust, this includes interests in the trust made available by
the responsible entity of the trust
Note: In the case of a company, interests which come within paragraph (i) of
the definition of "notifiable interest of a director" should be disclosed in
this part.
Direct or indirect interest Direct
Nature of indirect interest
(including registered holder)
Note: Provide details of the circumstances giving rise to the relevant
interest.
Date of change 27 September 2024
No. of securities held prior to change (a) 500,000
(b) 1,000,000
(c) 500,000
(d) 700,000
Class (a) Ordinary Fully Paid Shares
(b) Unlisted Performance Rights subject to the "Definitive Feasibility
Study Milestone" expiring 31 October 2025
(c) Unlisted Performance Rights subject to the "Grant of Mining Licence
Milestone" expiring 31 March 2026
(d) Unlisted Performance Rights subject to the "Final Investment Decision
Milestone" expiring 30 June 2026
Number acquired (b) 300,000
(c) 300,000
(d) 400,000
Number disposed Not applicable
Value/Consideration Not applicable - see nature of change below
Note: If consideration is non-cash, provide details and estimated valuation
No. of securities held after change (a) 500,000
(b) 1,300,000
(c) 800,000
(d) 1,100,000
Nature of change Issue of Performance Rights following shareholder approval
Example: on-market trade, off-market trade, exercise of options, issue of
securities under dividend reinvestment plan, participation in buy-back
Part 2 - Change of director's interests in contracts
Note: In the case of a company, interests which come within paragraph (ii) of
the definition of "notifiable interest of a director" should be disclosed in
this part.
Detail of contract Not applicable
Nature of interest Not applicable
Name of registered holder Not applicable
(if issued securities)
Date of change Not applicable
No. and class of securities to which interest related prior to change Not applicable
Note: Details are only required for a contract in relation to which the
interest has changed
Interest acquired Not applicable
Interest disposed Not applicable
Value/Consideration Not applicable
Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change Not applicable
Part 3 - +Closed period
Were the interests in the securities or contracts detailed above traded during No
a +closed period where prior written clearance was required?
If so, was prior written clearance provided to allow the trade to proceed Not applicable
during this period?
If prior written clearance was provided, on what date was this provided? Not applicable
Initial notification/Amendment Initial
LEI 213800NSPXSASTENFQ34
Place of transaction Australian Securities Exchange (ASX)
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