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REG - Sylvania Platinum - Exercise of Vested Shares and Buyback

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RNS Number : 3115B  Sylvania Platinum Limited  30 September 2022

 

 

 

 

 

 
 _____________________________________________________________________________________________________________________________

 

30 September 2022

 

 

Sylvania Platinum Limited

 ("Sylvania", the "Company" or the "Group")

 

 

Exercise of vested bonus shares

 
 

Sylvania (AIM: SLP) today announces that certain Directors, senior management
and employees have, following the vesting of deferred share awards, granted to
them in August 2019 under the Sylvania Platinum Limited Deferred Share Award
Scheme, exercised their rights over a total of 1,755,000 Ordinary Shares in
the capital of the Company. This has been satisfied by issuing Ordinary Shares
held in Treasury.

 

702,300 of the Ordinary Shares were immediately repurchased by the Company at
the vesting price of 96.5 pence, in order to satisfy the tax liabilities of
the PDMRs and employees.

 

A further 382,700 Ordinary Shares have been repurchased by the Company at the
30-day VWAP of 90.91 pence, calculated at the close of business on 29
September 2022. These Ordinary Shares were repurchased at the request of
certain employees under the terms of the Deferred Share Award Rules.

 

All of the 1,085,000 Ordinary Shares repurchased by the Company are being held
in Treasury.

 

Of the total 1,755,000 Bonus Shares being exercised the following relate to
Directors and senior management of the Company:

 

 Director           Bonus shares being exercised     Shares sold                                                  Bonus shares retained  Total shares held after event  % of share capital (Shares with voting rights)
                    Sales for tax and dealing costs          Price per share  Other share sales  Price per share
 Jaco Prinsloo      165,000                          74,250  96.5p            -                  -                90,750                 1,463,144                      0.55%
 Lewanne Carminati  150,000                          67,500  96.5p            -                  -                82,500                 1,326,831                      0.50%

 

 PDMR                                                     Bonus shares being exercised  Shares sold                              Bonus Shares retained  Total shares held after event  % of share capital (Shares with voting rights)
        Sales for tax and dealing costs  Price per share  Other share sales                     Price per share
 Albert Jordaan                                           150,000                       67,500  96.5p            10,000  90.91p  72,500                 259,000                        0.10%
 ( )

Following the above transaction, the Company's issued share capital amounts to
280,155,657 Ordinary Shares of which a total of 13,354,869 Ordinary Shares are
held in Treasury. Therefore, the total number of Ordinary Shares with voting
rights in Sylvania 266,800,788 Ordinary Shares.

 

 

CONTACT DETAILS

 

 For further information, please contact:
 Jaco Prinsloo CEO                                  +27 11 673 1171

 Lewanne Carminati CFO

 Nominated Adviser and Broker
 Liberum Capital Limited                            +44 (0) 20 3100 2000
 Richard Crawley / Scott Mathieson / Kane Collings

 Communications
 Alma PR Limited                                    +44 (0) 20 3405 0205
 Justine James / Josh Royston / Matthew Young       sylvania@almapr.co.uk (mailto:sylvania@almapr.co.uk)

 

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 (http://www.sylvaniaplatinum.com)

 

 

About Sylvania Platinum Limited

 

Sylvania Platinum is a lower-cost producer of platinum group metals (PGM)
(platinum, palladium and rhodium) with operations located in South Africa. The
Sylvania Dump Operations (SDO) comprises six chrome beneficiation and PGM
processing plants focusing on the retreatment of PGM-rich chrome tailings
materials from mines in the Bushveld Igneous Complex. The SDO is the largest
PGM producer from chrome tailings re-treatment in the industry. The Group also
holds mining rights for PGM projects in the Northern Limb of the Bushveld
Complex.

 

 

For more information visit https://www.sylvaniaplatinum.com/
(https://www.sylvaniaplatinum.com/)

 

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse regulation
(EU) no.596/2014 as amended by the Market Abuse (Amendment) (EU Exit)
Regulations 2019.

 

 

For the purposes of MAR and Article 2 of Commission Implementing Regulation
(EU) 2016/1055, this announcement is being made on behalf of the Company by
Jaco Prinsloo.

 

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                                                         Jacobus Johannes Prinsloo

 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                                                          2138005DSKINAZ4OA492

 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  Ordinary Shares of USD 0.01 each

     Identification code

                                                                  BMG864081044
 b)  Nature of the transaction                                    Exercise of Share Awards

 c)  Price(s) and volume(s)

Price(s)  Volume(s)
                                                                  96.5p     165,000

 

 d)  Aggregated information                                       n/a Single Transaction

     -      Aggregated volume

     -      Price

 e)  Date of the transaction                                      29 September 2022

 f)  Place of the transaction                                     Off Market

 

 

 

d)

Aggregated information

 

-      Aggregated volume

 

-      Price

 

n/a Single Transaction

 

 

 

e)

Date of the transaction

 

29 September 2022

f)

Place of the transaction

 

Off Market

 

 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                                                         Jacobus Johannes Prinsloo

 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                                                          2138005DSKINAZ4OA492

 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  Ordinary Shares of USD 0.01 each

     Identification code

                                                                  BMG864081044
 b)  Nature of the transaction                                    Sale of exercised Share Awards to satisfy the tax liability

 c)  Price(s) and volume(s)

Price(s)  Volume(s)
                                                                  96.5p     74,250

 

 d)  Aggregated information                                       n/a Single Transaction

     -      Aggregated volume

     -      Price

 e)  Date of the transaction                                      29 September 2022

 f)  Place of the transaction                                     Off Market

 

 

 

d)

Aggregated information

 

-      Aggregated volume

 

-      Price

 

n/a Single Transaction

 

 

 

e)

Date of the transaction

 

29 September 2022

f)

Place of the transaction

 

Off Market

 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                                                         Lewanne Carminati

 2   Reason for the notification

 a)  Position/status                                              Chief Financial 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                                                          2138005DSKINAZ4OA492

 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  Ordinary Shares of USD 0.01 each

     Identification code

                                                                  BMG864081044
 b)  Nature of the transaction                                    Exercise of Share Awards

 c)  Price(s) and volume(s)

Price(s)  Volume(s)
                                                                  96.5p     150,000

 

 d)  Aggregated information                                       n/a Single Transaction

     -      Aggregated volume

     -      Price

 e)  Date of the transaction                                      29 September 2022

 f)  Place of the transaction                                     Off Market

 

 

 

d)

Aggregated information

 

-      Aggregated volume

 

-      Price

 

n/a Single Transaction

 

 

 

e)

Date of the transaction

 

29 September 2022

f)

Place of the transaction

 

Off Market

 

 

 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                                                         Lewanne Carminati

 2   Reason for the notification

 a)  Position/status                                              Chief Financial 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                                                          2138005DSKINAZ4OA492

 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  Ordinary Shares of USD 0.01 each

     Identification code

                                                                  BMG864081044
 b)  Nature of the transaction                                    Sale of exercised Share Awards to satisfy the tax liability

 c)  Price(s) and volume(s)

Price(s)  Volume(s)
                                                                  96.5p     67,500

 

 d)  Aggregated information                                       n/a Single Transaction

     -      Aggregated volume

     -      Price

 e)  Date of the transaction                                      29 September 2022

 f)  Place of the transaction                                     Off Market

 

 

 

d)

Aggregated information

 

-      Aggregated volume

 

-      Price

 

n/a Single Transaction

 

 

 

e)

Date of the transaction

 

29 September 2022

f)

Place of the transaction

 

Off Market

 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                                                         Albertus Jacobus Johannes 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                                                          2138005DSKINAZ4OA492

 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  Ordinary Shares of USD 0.01 each

     Identification code

                                                                  BMG864081044
 b)  Nature of the transaction                                    Exercise of Bonus Shares

 c)  Price(s) and volume(s)

Price(s)  Volume(s)
                                                                  96.5p     150,000

 

 d)  Aggregated information                                       n/a Single Transaction

     -      Aggregated volume

     -      Price

 e)  Date of the transaction                                      29 September 2022

 f)  Place of the transaction                                     Off Market

 

 

 

d)

Aggregated information

 

-      Aggregated volume

 

-      Price

 

n/a Single Transaction

 

 

 

e)

Date of the transaction

 

29 September 2022

f)

Place of the transaction

 

Off Market

 

 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                                                         Albertus Jacobus Johannes 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                                                          2138005DSKINAZ4OA492

 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  Ordinary Shares of USD 0.01 each

     Identification code

                                                                  BMG864081044
 b)  Nature of the transaction                                    Sale of exercised Share Awards to satisfy the tax liability

 c)  Price(s) and volume(s)

Price(s)  Volume(s)
                                                                  96.5p     67,500

 

 d)  Aggregated information                                       n/a Single Transaction

     -      Aggregated volume

     -      Price

 e)  Date of the transaction                                      29 September 2022

 f)  Place of the transaction                                     Off Market

 

 

 

d)

Aggregated information

 

-      Aggregated volume

 

-      Price

 

n/a Single Transaction

 

 

 

e)

Date of the transaction

 

29 September 2022

f)

Place of the transaction

 

Off Market

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                                                         Albertus Jacobus Johannes 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                                                          2138005DSKINAZ4OA492

 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  Ordinary Shares of USD 0.01 each

     Identification code

                                                                  BMG864081044
 b)  Nature of the transaction                                    Sale of exercised Bonus Shares

 c)  Price(s) and volume(s)

Price(s)  Volume(s)
                                                                  90.91p    10,000

 

 d)  Aggregated information                                       n/a Single Transaction

     -      Aggregated volume

     -      Price

 e)  Date of the transaction                                      29 September 2022

 f)  Place of the transaction                                     Off Market

 

 

 

d)

Aggregated information

 

-      Aggregated volume

 

-      Price

 

n/a Single Transaction

 

 

 

e)

Date of the transaction

 

29 September 2022

f)

Place of the transaction

 

Off Market

 

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