Trident Royalties. - Share Awards and Non-executive Director Fees
17/01/2023 07:00
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RNS Number : 9018M Trident Royalties PLC. 17 January 2023
17 January 2023
Trident Royalties Plc
("Trident" or the "Company")
Share Awards and Non-executive Director Fees
The Company announces, as set out in the 2021 Annual Report, that the
Non-Executive Directors agreed to apply a portion of their annual fees to the
subscription for ordinary shares of the Company, accordingly it has issued
174,366 Trident ordinary shares of £0.01 ("Ordinary Shares") at a price of
48.84 pence per Ordinary Share to certain directors as set out below
("Director Shares").
Director Director Shares Issued Subsequent number of Ordinary Shares held Percentage of Issued share capital
Paul Smith 54,601 4,256,468 1.46%
Albert Gourley 34,125 7,534,125 2.59%
Peter Bacchus 34,125 236,140 0.08%
Helen Pein 34,125 139,593 0.05%
David Reading 17,390 192,390 0.07%
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 the AIM Market of the 174,366 Director 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 at
8:00am on 19 January 2023.
Total Voting Rights
For the purposes of the Financial Conduct Authority's Disclosure Guidance and
Transparency Rules ("DTRs"), following Admission, Trident will have
291,304,966 Ordinary Shares in issue with voting rights attached. Trident does
not hold any shares in treasury. This figure of 291,304,966 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 Paul Smith
2. Reason for the notification
a. Position/status Non-executive Chairman
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 Subscription for Ordinary Shares
c. Price(s) and volume(s) Price(s) Volume(s)
48.84p/share 54,601
d. Aggregated information
·Aggregated volume N/A Single transaction
·Price
e. Date of the transaction 19 January 2023
f. Place of the transaction Outside a trading venue
d.
Aggregated information
·Aggregated volume
·Price
N/A Single transaction
e.
Date of the transaction
19 January 2023
f.
Place of the transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a. Name Albert Gourley
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 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 Subscription for Ordinary Shares
c. Price(s) and volume(s) Price(s) Volume(s)
48.84p/share 34,125
d. Aggregated information
·Aggregated volume N/A Single transaction
·Price
e. Date of the transaction 19 January 2023
f. Place of the transaction Outside a trading venue
d.
Aggregated information
·Aggregated volume
·Price
N/A Single transaction
e.
Date of the transaction
19 January 2023
f.
Place of the transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a. Name Peter Bacchus
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 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 Subscription for Ordinary Shares
c. Price(s) and volume(s) Price(s) Volume(s)
48.84p/share 34,125
d. Aggregated information
·Aggregated volume N/A Single transaction
·Price
e. Date of the transaction 19 January 2023
f. Place of the transaction Outside a trading venue
d.
Aggregated information
·Aggregated volume
·Price
N/A Single transaction
e.
Date of the transaction
19 January 2023
f.
Place of the transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a. Name Helen Pein
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 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 Subscription for Ordinary Shares
c. Price(s) and volume(s) Price(s) Volume(s)
48.84p/share 34,125
d. Aggregated information
·Aggregated volume N/A Single transaction
·Price
e. Date of the transaction 19 January 2023
f. Place of the transaction Outside a trading venue
d.
Aggregated information
·Aggregated volume
·Price
N/A Single transaction
e.
Date of the transaction
19 January 2023
f.
Place of the transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a. Name David Reading
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 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 Options over Ordinary Shares of £0.01 each
code
For Ordinary Shares: GB00BF7J2535
b. Nature of the transaction Subscription for Ordinary Shares
c. Price(s) and volume(s) Price(s) Volume(s)
48.84p/share 17,390
d. Aggregated information
·Aggregated volume N/A Single transaction
·Price
e. Date of the transaction 19 January 2023
f. Place of the transaction Outside a trading venue
d.
Aggregated information
·Aggregated volume
·Price
N/A Single transaction
e.
Date of the transaction
19 January 2023
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 (https://www.grantthornton.co.uk/)
Colin Aaronson / Samantha Harrison / Samuel Littler +44 020 7383 5100
Stifel Nicolaus Europe Limited (Joint Broker) www.stifelinstitutional.com (http://www.stifelinstitutional.com)
Callum Stewart / Varun Talwar / Ashton Clanfield +44 20 7710 7600
Tamesis Partners LLP (Joint Broker) www.tamesispartners.com (http://www.tamesispartners.com)
Richard Greenfield +44 20 3882 2868
Liberum Capital Limited (Joint Broker) www.liberum.com (http://www.liberum.com)
Scott Mathieson / Cara Murphy +44 20 3100 2184
St Brides Partners Ltd (Financial PR & IR) www.stbridespartners.co.uk (http://www.stbridespartners.co.uk)
Susie Geliher / Catherine Leftley +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 and precious metals, bulk
materials (excluding thermal coal) and battery metals.
Key highlights of Trident's strategy include:
· Building a royalty and streaming portfolio to broadly mirror the
commodity exposure of the global mining sector (excluding thermal coal) 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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