REG - Sylvania Platinum - Exercise of Share Options and Bonus Shares <Origin Href="QuoteRef">SLPL.L</Origin>

Sylvania PlatinumAnnouncement

10/11/2017 09:00

RNS Number : 1567W
Sylvania Platinum Limited
10 November 2017
 _____________________________________________________________________________________________________________________________
Sylvania Platinum Limited 
("Sylvania", "the Company" or "the Group")
AIM (SLP)
Exercise of Share Options and Bonus Shares
10 November 2017
The Company announces that certain Directors and senior management have exercised vested options awarded to them under the Sylvania Platinum Limited Share Option Plan ("the Option Plan") as well as the deferred share awards granted in accordance with the Sylvania Platinum Limited Bonus Share Award Plan ("Bonus Shares"). 
BACKGROUND
As previously disclosed in the Annual Report the Option Plan was approved at the Annual General Meeting on 29 December 2011. 
The Options issued under the Plan were granted free of charge and the exercise price (if any) for the options determined by the Board at its absolute discretion. The expiry date of the options, unless otherwise determined by the Board, is ten years after the grant date. The Board at its discretion may apply certain vesting conditions upon any options issued under the plan. 
Under the Plan, 10% of issued Share Capital was allowed to be issued as Options. The Company however disclosed that it did not intend to issue more than 5% of issued Share Capital. This was based on the number of Ordinary Shares in issue at the time of the AGM held on 29 December 2011. The full 5% has been granted and the Board does not intend to issue any further Options under the Plan.
Bonus Shares were awarded to selected employees in August 2015 and, in addition to other vesting conditions, held a 12 month vesting period. 
RECENT EVENTS
Upon exercising the vested Options and Bonus Shares, these convert to 3,452,900 shares of USD0.01 each in the Company ("Ordinary Shares"), and shares currently held in treasury will be used to satisfy the exercise of the options. 
A further 1,672,100 Options and Bonus Shares converting into the same number of Ordinary Shares were exercised and then simultaneously repurchased by the Company in order to satisfy the tax liabilities of certain employees. These Ordinary Shares are currently being held in treasury.
In addition to the Options and Bonus Shares above, 835,650 Options and Bonus Shares were exercised and the Company has repurchased these shares at the 30 Day VWAP of 10.85 pence. These shares have been placed in treasury. 
Of the 5,125,000 Options and Bonus Shares being exercised, the following relate to Directors and senior management of the Company:
Director
Bonus shares being exercised
Plan shares being exercised
Shares sold
Plan shares retained
Total shares held after event
% of share capital
Price per share
Sales for tax and dealing costs
Other share sales
Stuart Murray
-
400,000
-
-
-
400,000
1,000,000
0.35%
Terry McConnachie
-
200,000
-
-
-
200,000
5,015,000
1.75%
Roger Williams
-
80,000
-
-
-
80,000
1,067,000
0.37%
PDMR
Bonus shares being exercised
Option Plan shares being exercised
Shares sold
Shares retained
Total shares held after event
% of share capital (Shares with voting rights)
Price per share*
Sales for tax and dealing costs
Other share sales
Johannes Prinsloo
535,000
40,000

258,750
-
 316,250
1,647,526
0.58%
Lewanne Carminati
500,000
40,000

243,000
-
 297,000
1,488,543
0.52%
Albert Jordaan
480,000
40,000

234,000
286,000
 -
516,632
0.18%
*The South African Income Tax is payable on the day the Options vest and therefore the price used to value the shares bought back for tax is the price on the day the Options vest.


Following the above transactions, the Company's issued share capital is 294,648,885 Ordinary Shares, of which a total of 8,518,777 Ordinary Shares are held in treasury. Therefore the total number of Ordinary Shares with voting rights in Sylvania is 286,130,108 Ordinary Shares.
CORPORATE INFORMATION
Registered and postal address:
Sylvania Platinum Limited

Clarendon House

2 Church Street

Hamilton HM 11

Bermuda


SA Operations postal address:
PO Box 976

Florida Hills, 1716

South Africa


Sylvania Website: www.sylvaniaplatinum.com
CONTACT DETAILS
For further information, please contact:

Terence McConnachie (Chief Executive Officer)
+44 777 533 7175


Nominated Advisor and Broker

Liberum Capital Limited
+44 (0) 20 3100 2000
Richard Crawley / Neil Elliot 



Communications

Alma PR Limited
+44 (0) 77 8090 1979
Josh Royston / Helena Bogle / Hilary Buchanan 

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
S Murray
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
Sylvania Platinum Limited
b)
LEI
Application in process
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
Identification code
Ordinary Shares of USD 0.01 each
BMG864081044
b)
Nature of the transaction
Exercise of Options
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil
400,000
d)
Aggregated information
- Aggregated volume
- Price
n/a Single Transaction
e)
Date of the transaction
7 November 2017
f)
Place of the transaction
Off market
1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
T McConnachie
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
Sylvania Platinum Limited
b)
LEI
Application in process
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
Identification code
Ordinary Shares of USD 0.01 each 
BMG864081044
b)
Nature of the transaction
Exercise of Options
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil
200,000
d)
Aggregated information
- Aggregated volume
- Price
n/a Single Transaction
e)
Date of the transaction
7 November 2017
f)
Place of the transaction
Off market
1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
R Williams
2
Reason for the notification
a)
Position/status
Non-Executive Director
b)
Initial notification/ Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Sylvania Platinum Limited
b)
LEI
Application in process
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
Identification code
Ordinary Shares of USD 0.01 each 
BMG864081044
b)
Nature of the transaction
Exercise of Options
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil
80,000
d)
Aggregated information
- Aggregated volume
- Price
n/a Single Transaction
e)
Date of the transaction
7 November 2017
f)
Place of the transaction
Off market
1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
J Prinsloo
2
Reason for the notification
a)
Position/status
Managing Director
b)
Initial notification/ Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Sylvania Platinum Limited
b)
LEI
Application in process
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
Identification code
Ordinary Shares of USD 0.01 each 
BMG864081044
b)
Nature of the transaction
Exercise of Options 
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil
575,000
d)
Aggregated information
- Aggregated volume
- Price
n/a Single Transaction
e)
Date of the transaction
7 November 2017
f)
Place of the transaction
Off Market
1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
J Prinsloo
2
Reason for the notification
a)
Position/status
Managing Director
b)
Initial notification/ Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Sylvania Platinum Limited
b)
LEI
Application in process
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
Identification code
Ordinary Shares of USD 0.01 each 
BMG864081044
b)
Nature of the transaction
Sale of shares
c)
Price(s) and volume(s)
Price(s)
Volume(s)
10.85
258,750
d)
Aggregated information
- Aggregated volume
- Price
n/a Single Transaction
e)
Date of the transaction
7 November 2017
f)
Place of the transaction
Off Market
1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
L Carminati
2
Reason for the notification
a)
Position/status
Executive Officer: Finance
b)
Initial notification/ Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Sylvania Platinum Limited
b)
LEI
Application in process
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
Identification code
Ordinary Shares of USD 0.01 each 
BMG864081044
b)
Nature of the transaction
Exercise of Options
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil
540,000
d)
Aggregated information
- Aggregated volume
- Price
n/a Single Transaction
e)
Date of the transaction
07 November 2017
f)
Place of the transaction
Off Market
1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
L Carminati
2
Reason for the notification
a)
Position/status
Executive Officer: Finance
b)
Initial notification/ Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Sylvania Platinum Limited
b)
LEI
Application in process
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
Identification code
Ordinary Shares of USD 0.01 each 
BMG864081044
b)
Nature of the transaction
Sale of shares
c)
Price(s) and volume(s)
Price(s)
Volume(s)
10.85
243,000
d)
Aggregated information
- Aggregated volume
- Price
n/a Single Transaction
e)
Date of the transaction
07 November 2017
f)
Place of the transaction
Off Market
1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
A Jordaan
2
Reason for the notification
a)
Position/status
Executive Officer: New Business
b)
Initial notification/ Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Sylvania Platinum Limited
b)
LEI
Application in progress
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
Identification code
Ordinary Shares of USD 0.01 each 
BMG864081044
b)
Nature of the transaction
Exercise of Options
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil
520,000
d)
Aggregated information
- Aggregated volume
- Price
n/a Single Transaction
e)
Date of the transaction
7 November 2017
f)
Place of the transaction
Off Market
1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
A Jordaan
2
Reason for the notification
a)
Position/status
Executive Officer: New Business
b)
Initial notification/ Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Sylvania Platinum Limited
b)
LEI
Application in process
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
Identification code
Ordinary Shares of USD 0.01 each 
BMG864081044
b)
Nature of the transaction
Sale of shares
c)
Price(s) and volume(s)
Price(s)
Volume(s)
10.85
520,000
d)
Aggregated information
- Aggregated volume
- Price
n/a Single Transaction
e)
Date of the transaction
07 November 2017 
f)
Place of the transaction
Off Market

This information is provided by RNS
The company news service from the London Stock Exchange
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