REG - Sovereign Metals Ltd - Issue of Shares

Sovereign MetalsAnnouncement

25/08/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230825:nRSY4118Ka&default-theme=true

RNS Number : 4118K  Sovereign Metals Limited  25 August 2023

SOVEREIGN METALS LIMITED

 

NEWS RELEASE I 25 AUGUST 2023

 

ISSUE OF SHARES

Further to Sovereign Metals Limited (Sovereign or the Company) (ASX:SVM,
AIM:SVML) announcement on 23 August 2023, the Company advises that it has
issued 2,932,786 fully paid ordinary shares (Shares) by way of the issue of
439,918 Shares to Rio Tinto and 2,492,868 Shares to SCP Resource Finance,
formerly Sprott Capital Partners, as an advisory fee of 3% on the amount of
Rio Tinto's initial investment (refer to announcement date 17 July 2023).

An application will be made for the Shares to be admitted to trading on AIM
(Admission) and it is expected that Admission will become effective on or
around 29 August 2023.

 

Total Voting Rights

 

For the purposes of the Financial Conduct Authority's Disclosure Guidance and
Transparency Rules (DTRs), following Admission of the Shares, Sovereign will
have 556,903,401 Ordinary Shares in issue with voting rights attached. The
figure of 556,903,401 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.

Following the issue of Shares, Sovereign has the following securities on
issue:

·      556,903,401 fully paid ordinary shares;

·      34,549,598 unlisted options exercisable at A$0.535 each on or
before 21 July 2024;

·      6,100,000 unlisted performance rights subject to the
"Pre-Feasibility Study Milestone" expiring on or before 30 September 2023; and

·      7,810,000 unlisted performance rights subject to the "Definitive
Feasiblity Study Milestone" expiring on or before 31 October 2025.

 

ENQUIRIES

 Dylan Browne

 Company Secretary

+61(8) 9322 6322

 info@sovereignmetals.com

 

 Nominated Adviser on AIM and Joint Broker
 SP Angel Corporate Finance LLP
 Ewan Leggat                                +44 20 3470 0470

 Charlie Bouverat

 Harry Davies-Ball

 Joint Brokers
 Berenberg                                  +44 20 3207 7800
 Matthew Armitt
 Jennifer Lee

 Optiva Securities                          +44 20 3137 1902
 Daniel Ingram
 Mariela Jaho
 Christian Dennis

 Tavistock PR                               +44 20 7920 3150

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  IOEXZLLLXVLEBBE