REG - Sovereign Metals Ltd - Issue of Performance Rights

Sovereign MetalsAnnouncement

12/04/2024 07:00

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RNS Number : 4202K  Sovereign Metals Limited  12 April 2024

SOVEREIGN METALS LIMITED

 

NEWS RELEASE I 12 APRIL 2024

 

ISSUE OF PERFORMANCE RIGHTS

The Company has today issued 1,450,000 unlisted performance rights to key
staff (not PDMRs) as part of their incentive remuneration as follows:

·   550,000 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" that have no exercise price and expire 31 March 2026; and

·   300,000 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 of no par value each in
the Company;

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

·     9,660,000 unlisted performance rights subject to the "Definitive
Feasibility Study Milestone" expiring on or before 31 October 2025;

·    3,750,000 unlisted performance rights subject to the "Grant of Mining
Licence Milestone" that have no exercise price and expire 31 March 2026; and

·    4,450,000 unlisted performance rights subject to the "Final Investment
Decision Milestone" that have no exercise price and expire 30 June 2026.

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
 Stifel                                     +44 20 7710 7600
 Varun Talwar
 Ashton Clanfield

 Berenberg                                  +44 20 3207 7800
 Matthew Armitt
 Jennifer Lee

 Buchanan                                   + 44 20 7466 5000

 

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