REG - Trident Royalties - Share Awards to Directors and Management
02/01/2024 07:00
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RNS Number : 2616Y Trident Royalties PLC 02 January 2024
2 January 2024
Trident Royalties Plc
("Trident" or the "Company")
Share Awards to Directors and Management
The Company announces, that it has issued 349,206 Trident ordinary shares of
£0.01 ("Ordinary Shares") at a price of 33 pence per Ordinary Share to
certain directors and members of the management team as part of the 2023 bonus
awards ("Bonus Shares").
Included in the recipients of Bonus Shares are directors Adam Davidson (Chief
Executive Officer) and Richard Hughes (Chief Financial officer) whose Bonus
Shares are detailed below.
Director Director Shares Issued Subsequent number of Ordinary Shares held Subsequent Percentage of Issued share capital
Adam Davidson 99,086 429,086 0.15%
Richard Hughes 76,960 876,960 0.30%
Further details of the share issues are set out in the PDMR forms below made
in accordance with the Market Abuse Regulation (EU) No. 596/2014 which is part
of UK law by virtue of the European Union (Withdrawal) Act 2018..
Settlement and Dealings
Application has been made to the London Stock Exchange Plc for admission to
trading on AIM of the 349,206 Bonus Shares, which rank pari passu with the
Company's existing issued Ordinary Shares ("Admission"). Admission is expected
to occur and Dealings on AIM are expected to commence on or around 3 January
2024.
Total Voting Rights
For the purposes of the Financial Conduct Authority's Disclosure Guidance and
Transparency Rules ("DTRs"), following Admission, Trident will have
293,079,382 Ordinary Shares in issue with voting rights attached. Trident does
not hold any shares in treasury. This figure of 293,079,382 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 DTRs.
PDMR Notifications
Notification of Transactions of Persons Discharging Managerial Responsibility
and Persons Closely Associated with them:
1. Details of the person discharging managerial responsibilities / person closely
associated
a. Name Adam Davidson
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 Trident Royalties Plc
b. LEI 213800V6U8KJ7U2BV956
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 Ordinary Shares of £0.01 each
code
GB00BF7J2535
b. Nature of the transaction Award of shares pursuant to the company's annual bonus arrangements
c. Price(s) and volume(s) Price(s) Volume(s)
33p/share 99,086
d. Aggregated information
·Aggregated volume N/A Single transaction
·Price
e. Date of the transaction 2 January 2024
f. Place of the transaction Outside a trading venue
d.
Aggregated information
·Aggregated volume
·Price
N/A Single transaction
e.
Date of the transaction
2 January 2024
f.
Place of the transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a. Name Richard Hughes
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 Trident Royalties Plc
b. LEI 213800V6U8KJ7U2BV956
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 Ordinary Shares of £0.01 each
code
GB00BF7J2535
b. Nature of the transaction Award of shares pursuant to the company's annual bonus arrangements
c. Price(s) and volume(s) Price(s) Volume(s)
33p/share 76,960
d. Aggregated information
·Aggregated volume N/A Single transaction
·Price
e. Date of the transaction 2 January 2024
f. Place of the transaction Outside a trading venue
d.
Aggregated information
·Aggregated volume
·Price
N/A Single transaction
e.
Date of the transaction
2 January 2024
f.
Place of the transaction
Outside a trading venue
** Ends **
Contact details:
Trident Royalties Plc www.tridentroyalties.com
Adam Davidson / Richard Hughes +1 (757) 208-5171 / +44 7967 589997
Grant Thornton (Nominated Adviser) www.grantthornton.co.uk
(file:///C%3A/Users/afdav/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/GCSQ6WT9/www.grantthornton.com)
Colin Aaronson / Samantha Harrison / Enzo Aliaj
+44 020 7383 5100
Liberum Capital Limited (Joint Broker) www.liberum.com (http://www.liberum.com)
Scott Mathieson / Cara Murphy +44 20 3100 2184
Stifel Nicolaus Europe Limited (Joint Broker) www.stifelinstitutional.com (http://www.stifelinstitutional.com)
Callum Stewart / Ashton Clanfield +44 20 7710 7600
Tamesis Partners LLP (Joint Broker) www.tamesispartners.com (http://www.tamesispartners.com)
Richard Greenfield / Charlie Bendon +44 20 3882 2868
St Brides Partners Ltd (Financial PR & IR) www.stbridespartners.co.uk (http://www.stbridespartners.co.uk)
Susie Geliher / Zoe Briggs +44 20 7236 1177
About Trident
Trident is a growth-focused diversified mining royalty and streaming company,
providing investors with exposure to a mix of base battery, precious, and bulk
metals.
Key highlights of Trident's strategy include:
· Building upon a royalty and streaming portfolio which broadly mirrors the
commodity exposure of the global mining sector (excluding fossil fuels) with a
bias towards production or near-production assets, differentiating Trident
from the majority of peers which are exclusively, or heavily weighted, to
precious metals;
· Acquiring royalties and streams in resource-friendly jurisdictions worldwide,
while most competitors have portfolios focused on North and South America;
· Targeting attractive small-to-mid size transactions which are often ignored in
a sector dominated by large players;
· Active deal-sourcing which, in addition to writing new royalties and streams,
will focus on the acquisition of assets held by natural sellers such as:
closed-end funds, prospect generators, junior and mid-tier miners holding
royalties as non-core assets, and counterparties seeking to monetise packages
of royalties and streams which are otherwise undervalued by the market;
· Maintaining a low-overhead model which is capable of supporting a larger scale
business without a commensurate increase in operating costs; and
· Leveraging the experience of management, the board of directors, and Trident's
adviser team, all of whom have deep industry connections and strong
transactional experience across multiple commodities and jurisdictions.
The acquisition and aggregation of individual royalties and streams is
expected to deliver strong returns for shareholders as assets are acquired on
terms reflective of single asset risk compared with the lower risk profile of
a diversified, larger scale portfolio. Further value is expected to be
delivered by the introduction of conservative levels of leverage through debt.
Once scale has been achieved, strong cash generation is expected to support an
attractive dividend policy, providing investors with a desirable mix of
inflation protection, growth and income.
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