Exercise of share options and bonus shares

RNS Number : 3887Q

Sylvania Platinum Limited

29 February 2016

 

Sylvania Platinum Limited

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

 AIM (SLP)

Exercise of share options and bonus shares

29 February 2016

The Company announces that certain Directors and senior management have exercised vested options awarded to them under the Sylvania Platinum Limited Option Plan and bonus shares awarded in August 2014.  Upon exercise, the options and bonus shares convert to 4,873,441 shares of USD0.01 each in the Company ("Ordinary Shares"), and shares currently held in treasury will be used to satisfy the exercise of the options and bonus shares.  In addition to the 4,873,441 options and bonus shares being exercised, a further 1,664,885 options and bonus shares converting into the same number of Ordinary Shares were exercised and then simultaneously repurchased by the Company in order to satisfy the tax liabilities of certain employees. These Ordinary Shares are currently being held in treasury.

Of the 4,873,441 options and bonus shares being exercised, the following relate to Directors of the Company:

Name	Opening balance of Ordinary Shares held	Bonus shares*	Exercise of share options	Total number of Ordinary Shares held after exercise
S Murray	-	-	200,000	200,000
T McConnachie	2,565,000	1,150,000	900,000	4,615,000
R Williams	667,000	-	240,000	907,000

^* Bonus shares awarded in August 2014 and vested in August 2015.

Following this transaction, the Company's issued share capital is 297,981,896 Ordinary Shares, of which a total of 4,242,143 Ordinary Shares are held in treasury.  Therefore the total number of Ordinary Shares with voting rights in Sylvania is 293,739,753 Ordinary Shares.

CORPORATE INFORMATION

Registered office:	Sylvania Platinum Limited
	Clarendon House
	2 Church Street
	Hamilton HM 11
	Bermuda
Postal address:	PO Box 976
	Florida Hills, 1716
	South Africa

Sylvania Website: www.sylvaniaplatinum.com

CONTACT DETAILS

For further information, please contact:
Terence McConnachie (Chief Executive Officer)	[phone]
Nominated Advisor and Broker
Liberum Capital Limited	[phone]
Richard Crawley / Tom Fyson
Communications
Newgate	[phone]
Adam Lloyd / Ed Treadwell / Helena Bogle

 

END

 

 

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