Issue of Shares and AGM Date

Sovereign Metals Limited
29 September 2023
 

SOVEREIGN METALS LIMITED

 

NEWS RELEASE I 29 SEPTEMBER 2023

 

ISSUE OF SHARES ON CONVERSION OF PERFORMANCE RIGHTS AND AGM DATE

Sovereign Metals Limited (Sovereign or the Company) (ASX:SVM, AIM:SVML) advises that it has issued 6,100,000 fully paid ordinary shares (Shares) upon the conversion of 6,100,000 PFS Milestone performance rights held by certain directors, employees and consultants of the Company pursuant to its shareholder approved Employee Equity Incentive Plan for nil consideration. Change of Director's Interest Notice are provided below.

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 5 October 2023.

 

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 563,003,401 Ordinary Shares in issue with voting rights attached. The figure of 563,003,401 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.

Shares on conversion of the performance rights have been issued to Directors of the Company is detailed below.

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

·      563,003,401 fully paid ordinary shares;

·      34,549,598 unlisted options exercisable at A$0.535 each on or before 21 July 2024; and

·      7,810,000 unlisted performance rights subject to the "Definitive Feasibility Study Milestone" expiring on or before 31 October 2025.

Date of Annual General Meeting

 

The Company also advises in accordance with ASX Listing Rule 3.13.1, that the Company's Annual General Meeting (AGM) will be held on Friday, 24 November 2023.

An item of business at the AGM will be the re-election of Directors. In accordance with clause 6.2(f) of the Company's Constitution, the closing date for receipt of nominations from persons wishing to be considered for election as a Director is Friday, 6 October 2023.

Any nominations must be received at the Company's registered office no later than 5.00pm (Perth time) on Friday, 6 October 2023.

Further information about the AGM, including the Notice of AGM, will be provided to shareholders in October 2023

 

ENQUIRIES

Dylan Browne

Company Secretary
+61(8) 9322 6322

info@sovereignmetals.com

 

Nominated Adviser on AIM and Joint Broker

 

SP Angel Corporate Finance LLP

 

Ewan Leggat

Charlie Bouverat

Harry Davies-Ball

+44 20 3470 0470

 

 

Joint Brokers

 

Berenberg

+44 20 3207 7800

Matthew Armitt

 

Jennifer Lee

 

 

 

Tavistock PR

+44 20 7920 3150

 

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 November 2022

 

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

29 September 2023

No. of securities held prior to change

(a)   3,590,000

(b)   600,000

(c)   600,000

Class

(a)   Ordinary Fully Paid Shares

(b)   Unlisted Performance Rights subject to the "Pre-Feasibility Study Milestone" expiring 30 September 2023

(c)   Unlisted Performance Rights subject to the "Definitive Feasibility Study Milestone" expiring 31 October 2025 expiring 31 October 2025

Number acquired

(a)   600,000

Number disposed

(b)   (600,000)

Value/Consideration

Note: If consideration is non-cash, provide details and estimated valuation

 

Not applicable - see nature of change below

No. of securities held after change

(a)   4,190,000

(b)   Nil

(c)   600,000

Nature of change

Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

Conversion of Performance Rights upon satisfaction of the Pre-Feasibility Study Milestone

 

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 November 2022

 

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

29 September 2023

No. of securities held prior to change

(d)   15,657,518

(e)   900,000

(f)    1,200,000

Class

(d)   Ordinary Fully Paid Shares

(e)  Unlisted Performance Rights subject to the "Pre-Feasibility Study Milestone" expiring 30 September 2023

(f)   Unlisted Performance Rights subject to the "Definitive Feasibility Study Milestone" expiring 31 October 2025

Number acquired

(d)  900,000

Number disposed

(b)  (900,000)

Value/Consideration

Note: If consideration is non-cash, provide details and estimated valuation

 

Not applicable - see nature of change below

No. of securities held after change

(a)  16,557,518

(b)  Nil

(c)  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

Conversion of Performance Rights upon satisfaction of the Pre-Feasibility Study Milestone

 

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

Nigel Jones

Date of last notice

23 November 2022

 

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.

 

Redbeck Partners Ltd (beneficial interest)

Date of change

29 September 2023

No. of securities held prior to change

(g)   Nil

(h)   225,000

(i)    300,000

 

Class

(g)   Ordinary Fully Paid Shares

(h)   Unlisted Performance Rights subject to the "Pre-Feasibility Study Milestone" expiring 30 September 2023

(i)    Unlisted Performance Rights subject to the "Definitive Feasibility Study Milestone" expiring 31 October 2025

Number acquired

(e)  225,000

Number disposed

(b)  (225,000)

Value/Consideration

Note: If consideration is non-cash, provide details and estimated valuation

 

Not applicable - see nature of change below

No. of securities held after change

(a)  225,000

(b)  nil

(c)  300,000

 

Nature of change

Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

Conversion of Performance Rights upon satisfaction of the Pre-Feasibility Study Milestone

 

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

Mark Pearce

Date of last notice

23 November 2022

 

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.

 

·  Mr Mark Pearce and Mrs Natasha Pearce <NMLP Family A/C> (trustee and beneficial interest)

·  Apollo Group Pty Ltd (director and indirect shareholder)

·  Crystal Brook Investments Pty Ltd (director and beneficial interest)

 

Date of change

29 September 2023

No. of securities held prior to change

(a)     4,295,842

(b)     225,000

(c)     300,000

Class

(a)     Ordinary Fully Paid Shares

(b)     Unlisted Performance Rights subject to the "Pre-Feasibility Study Milestone" expiring 30 September 2023

(c)     Unlisted Performance Rights subject to the "Definitive Feasibility Study Milestone" expiring 31 October 2025)      

Number acquired

(a)     225,000

 

Number disposed

(b)     (225,000)

 

Value/Consideration

Note: If consideration is non-cash, provide details and estimated valuation

 

Not applicable - see nature of change below

 

No. of securities held after change

(a)     4,520,842

(b)     Nil

(c)     300,000

Nature of change

Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

Conversion of Performance Rights upon satisfaction of the Pre-Feasibility Study Milestone

 

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)

 

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