Issue of Equity

RNS Number : 9281P

Sovereign Metals Limited

23 June 2022

 

SOVEREIGN METALS LIMITED

NEWS RELEASE I 23 JUNE 2022

ISSUE OF SHARES ON EXERCISE OF UNLISTED OPTIONS

Sovereign Metals Limited (Sovereign or the Company) (ASX:SVM, AIM:SVML) advises that it has issued  7,444,000 fully paid ordinary shares (Shares) upon the exercise of unlisted options as detailed below.

· Cashless exercise of 6,125,000 unlisted options exercisable at A$0.14 each on or before 30 June 2022 for the issue of 4,410,000 Shares;

· Exercise of 250,000 unlisted options exercisable at A$0.14 each on or before 30 June 2022 for the issue of 250,000 Shares for proceeds of A$35,000;

· Cashless exercise of 1,850,000 unlisted options exercisable at A$0.18 each on or before 30 June 2022 for the issue of 1,184,000 Shares;

· Cashless exercise of 2,500,000 unlisted options exercisable at A$0.18 each on or before 31 July 2022 for the issue of 1,600,000 Shares.

An application will be made for the Shares to be admitted to trading on AIM (Admission) and it is expected that Admission will become effective on or around 30 June 2022.

Total Voting Rights

For the purposes of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules (DTRs), following Admission of the Shares, Sovereign will have 470,725,023 Ordinary Shares in issue with voting rights attached. The figure of 470,725,023 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 ASX Listing Rules or the DTRs.

Following the issue of Shares, Sovereign has the following securities on issue:

· 470,725,023 ordinary fully paid ordinary shares;

· 150,000 unlisted options exercisable at A$0.18 each on or before 30 June 2022;

· 11,105,125 unlisted options exercisable at A$0.80 each on or before 13 May 2023;

· 5,120,000 performance rights subject to the "Feasibility Study Milestone" expiring on or before 31 December 2023; and

· 7,320,000 performance rights subject to the "Decision to Mine Milestone" expiring on or before 31 October 2025.

Shares on exercise of unlisted options have issued to Directors of the Company are detailed below. 

ENQUIRIES

Dr Julian Stephens (Perth) Managing Director [phone]

Sam Cordin (Perth) [phone]

Sapan Ghai (London) [phone]

Nominated Adviser on AIM
RFC Ambrian
Bhavesh Patel / Andrew Thomson	[phone]
Joint Brokers
Berenberg	[phone]
Matthew Armitt
Jennifer Lee
Varun Talwar
Optiva Securities	[phone]
Daniel Ingrams
Mariela Jaho
Christian Dennis

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available.  Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/09/01  Amended 01/01/11

Name of entity   SOVEREIGN METALS LIMITED

ABN  71 120 833 427

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act. 

Name of Director	Benjamin Stoikovich
Date of last notice	23 December 2021

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Direct and Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Selwyn Capital Limited (beneficial interest)
Date of change	23 June 2022
No. of securities held prior to change	(a)  2,510,000 (b)  1,500,000 (c)  360,000 (d)  480,000
Class	(a)  Ordinary Fully Paid Shares (b)  $0.14 Incentive Options, expiring 30 June 2022 (c)  Unlisted Performance Rights subject to the "Feasibility Study Milestone" expiring 31 December 2023 (d)  Unlisted Performance Rights subject to the "Decision to Mine Milestone" expiring 31 October 2025
Number acquired	(a)  1,080,000 (upon exercise of options)
Number disposed	(b)  (1,500,000)
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil - refer to nature of change below
No. of securities held after change	(a)  3,590,000 (b)  - (c)  360,000 (d)  480,000
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Exercise of unlisted options pursuant to a cashless exercise facility

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	Not applicable
Nature of interest	Not applicable
Name of registered holder (if issued securities)	Not applicable
Date of change	Not applicable
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	Not applicable
Interest acquired	Not applicable
Interest disposed	Not applicable
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	Not applicable
Interest after change	Not applicable

Part 3 - + Closed period

Were the interests in the securities or contracts detailed above traded during a + closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	Not applicable
If prior written clearance was provided, on what date was this provided?	Not applicable

Initial notification/Amendment	Initial
LEI	213800NSPXSASTENFQ34
Place of transaction	Australian Securities Exchange (ASX)

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available.  Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/09/01  Amended 01/01/11

Name of entity   SOVEREIGN METALS LIMITED

ABN  71 120 833 427

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act. 

Name of Director	Julian Stephens
Date of last notice	23 December 2021

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	One Way Trust (beneficial interest)
Date of change	23 June 2022
No. of securities held prior to change	(a)  14,217,518 (b)  2,000,000 (c)  900,000 (d)  1,200,000
Class	(a)  Ordinary Fully Paid Shares (b)  $0.14 Incentive Options, expiring 30 June 2022 (c)  Unlisted Performance Rights subject to the "Feasibility Study Milestone" expiring 31 December 2023 (d)  Unlisted Performance Rights subject to the "Decision to Mine Milestone" expiring 31 October 2025
Number acquired	(a)  1,440,000 (upon exercise of options)
Number disposed	(b)  (2,000,000)
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil - refer to nature of change below
No. of securities held after change	(e)  15,657,518 (f)  - (g)  900,000 (h)  1,200,000
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Exercise of unlisted options pursuant to a cashless exercise facility

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	Not applicable
Nature of interest	Not applicable
Name of registered holder (if issued securities)	Not applicable
Date of change	Not applicable
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	Not applicable
Interest acquired	Not applicable
Interest disposed	Not applicable
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	Not applicable
Interest after change	Not applicable

Part 3 - + Closed period

Were the interests in the securities or contracts detailed above traded during a + closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	Not applicable
If prior written clearance was provided, on what date was this provided?	Not applicable

Initial notification/Amendment	Initial
LEI	213800NSPXSASTENFQ34
Place of transaction	Australian Securities Exchange (ASX)

 

END

 

 

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