REG - Sovereign Metals Ltd - Result of AGM
24/11/2023 07:00
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RNS Number : 5845U Sovereign Metals Limited 24 November 2023
SOVEREIGN METALS LIMITED
NEWS RELEASE I 24 NOVEMBER 2023
Results of Annual General Meeting
The Annual General Meeting (AGM) of Sovereign Metals Limited (Company)
(ASX:SVM, AIM:SVML) was held today, 24 November 2023, at 10.00am (AWST).
The resolutions voted on were in accordance with the Notice of AGM previously
advised to shareholders. All resolutions were decided on and carried by way of
poll.
In accordance with Section 251AA of the Corporations Act 2001 and ASX Listing
Rule 3.13.2, the details of the poll and proxies received in respect of each
resolution are set out in the below summary.
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
Harry Davies-Ball
Joint Brokers
Berenberg +44 20 3207 7800
Matthew Armitt
Jennifer Lee
Tavistock PR +44 20 7920 3150
Resolution Number of Proxy Votes Number and Percentage of Votes cast on the Poll Voting Method and Result
For Against Abstain Proxy's Discretion For Against Abstain
1. Remuneration Report 5,664,686 22,000 19,101,151 2,471,598 9,795,986 22,000 19,101,151 Carried on vote by poll
(99.8%)
(0.2%)
2. Re-election of Director - Mr Ian Middlemas 23,241,037 1,546,800 - 2,471,598 27,372,337 1,546,800 - Carried on vote by poll
(95%)
(5%)
3. Re-election of Director - Dr Julian Stephens 23,241,037 1,546,800 - 2,471,598 27,372,337 1,546,800 - Carried on vote by poll
(95%)
(5%)
4. Renewal of Employee Incentive Equity Plan 19,359,686 10,000 5,418,151 2,471,598 23,490,986 10,000 5,418,151 Carried on vote by poll
(99.9%)
(0.1%)
5. Issue of Performance Rights to a Director - Mr Benjamin Stoikovich 4,116,886 1,569,800 19,101,151 2,471,598 8,248,186 1,569,800 19,101,151 Carried on vote by poll
(84%)
(16%)
6. Issue of Performance Rights to a Director - Mr Mark Pearce 4,116,886 1,569,800 19,101,151 2,471,598 8,248,186 1,569,800 19,101,151 Carried on vote by poll
(84%)
(16%)
7. Issue of Performance Rights to a Director - Mr Nigel Jones 4,116,886 1,569,800 19,101,151 2,471,598 8,248,186 1,569,800 19,101,151 Carried on vote by poll
(84%)
(16%)
8. Approval of Additional 10% Placement Capacity 24,715,837 72,000 - 2,471,598 28,847,137 72,000 - Carried on vote by poll
(99.8%)
(0.2%)
Issue of Performance Rights
Following the shareholder approval of resolutions 5 to 7 today, the Company
has issued 1,750,000 unlisted performance rights to Directors as disclosed in
the Notice of AGM as follows:
· 700,000 performance rights subject to the "Grant of Mining
Licence Milestone" that have no exercise price and expire 31 March 2026; and
· 1,050,000 performance rights subject to the "Final Investment
Decision Milestone" that have no exercise price and expire 30 June 2026.
Following the issue of these performance rights, the Company has the following
securities on issue:
· 563,003,401 fully paid ordinary shares;
· 34,549,598 unlisted options exercisable at A$0.535 each on or
before 21 July 2024;
· 9,110,000 unlisted performance rights subject to the "Definitive
Feasibility Study Milestone" expiring on or before 31 October 2025;
· 3,150,000 unlisted performance rights subject to the "Grant of
Mining Licence Milestone" that have no exercise price and expire 31 March
2026; and
· 4,150,000 unlisted performance rights subject to the "Final
Investment Decision Milestone" that have no exercise price and expire 30 June
2026.
Change of Directors' Interest Notices are provided below.
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 29 September 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 24 November 2023
No. of securities held prior to change (a) 4,190,000
(b) 600,000
(c) -
(d) -
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 (c) 350,000
(d) 500,000
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) 600,000
(c) 350,000
(d) 500,000
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 Mark Pearce
Date of last notice 29 September 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 · Mr Mark Pearce and Mrs Natasha Pearce (trustee
and beneficial interest)
(including registered holder)
· Apollo Group Pty Ltd (director and indirect shareholder)
Note: Provide details of the circumstances giving rise to the relevant
interest. · Crystal Brook Investments Pty Ltd (director and beneficial interest)
Date of change 24 November 2023
No. of securities held prior to change (a) 4,520,842
(b) 300,000
(c) -
(d) -
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 (c) 250,000
(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) 4,520,842
(b) 300,000
(c) 250,000
(d) 400,000
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
C)
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 Nigel Jones
Date of last notice 29 September 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 Indirect
Nature of indirect interest Redbeck Partners Ltd (beneficial interest)
(including registered holder)
Note: Provide details of the circumstances giving rise to the relevant
interest.
Date of change 24 November 2023
No. of securities held prior to change (e) 225,000
(f) 300,000
(g) -
(h) -
Class (e) Ordinary Fully Paid Shares
(f) Unlisted Performance Rights subject to the "Definitive Feasibility
Study Milestone" expiring 31 October 2025
(g) Unlisted Performance Rights subject to the Grant of Mining Licence
Milestone" expiring 31 March 2026
(h) Unlisted Performance Rights subject to the "Final Investment Decision
Milestone" expiring 30 June 2026
Number acquired (c) 100,000
(d) 150,000
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) 225,000
(b) 300,000
(c) 100,000
(d) 150,000
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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