Exercise of Vested Bonus Shares

RNS Number : 7417D

Sylvania Platinum Limited

30 October 2020

 

  _____________________________________________________________________________________________________________________________

30 October 2020

Sylvania Platinum Limited

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

Exercise of vested bonus shares

 

 

Sylvania (AIM: SLP) today announces that certain Directors, senior management and employees have exercised a total of 2,365,000 bonus shares awarded to them in August 2017 under the Sylvania Platinum Limited Bonus Share Award Plan ("Bonus Shares") and which have now vested.  The exercise of the Bonus Shares were satisfied by shares currently held in Treasury.

990,250 of the Bonus Shares were immediately repurchased by the Company at the vesting price of 55.8 pence, in order to satisfy the tax liabilities of certain employees. The repurchased shares are currently being held in Treasury.

A further 356,325 Ordinary Shares were repurchased by the Company at the 30-day VWAP of 63.9072 pence, being the price at the close of business on 28 October 2020.  All Ordinary Shares purchased by the Company have been placed in Treasury.

Of the total 2,365,000 Bonus Shares being exercised the following relate to Directors and senior management of the Company:

Director	Bonus shares being exercised	Shares sold				B onus shares retained	Total shares held after event	% of share capital (Shares with voting rights)
		Sales for tax and dealing costs	P rice per share	Other share sales	Price per share
Jaco Prinsloo	4 75,000	2 13,750	55.8p	-	-	2 61,250	1 ,221,144	0.45%
Lewanne Carminati	4 40,000	1 98,000	55.8p	-	-	2 42,000	1 ,104,081	0.41%

PDMR			Bonus shares being exercised	Shares sold				B onus Shares retained	Total shares held after event	% of share capital (Shares with voting rights)
				Sales for tax and dealing costs	P rice per share	Other share sales	Price per share
Albert Jordaan			4 30,000	1 93,500	55.8p	50,000	63.9072p	186,500	186,500	0.07%

Following the above transaction, the Company's issued share capital amounts to 286,845,657 Ordinary Shares of which a total of 14,350,542 Ordinary Shares are held in Treasury. Therefore, the total number of Ordinary Shares with voting rights in Sylvania is 272,495,115 Ordinary Shares.

CONTACT DETAILS

For further information, please contact:
Jaco Prinsloo CEO Lewanne Carminati CFO	[phone]
Nominated Adviser and Broker
Liberum Capital Limited	[phone]
Richard Crawley / Scott Mathieson / Ed Phillips
Communications
Alma PR Limited	[phone]
Justine James / Helena Bogle / Josh Royston	[e-mail]

CORPORATE INFORMATION

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

Sylvania Website : www.sylvaniaplatinum.com

This announcement is released by Sylvania Platinum Limited and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Company by Jaco Prinsloo .

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Jacobus Johannes Prinsloo
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	Sylvania Platinum Limited
b)	LEI	2138005DSKINAZ4OA492
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 code	Ordinary Shares of USD 0.01 each BMG864081044
b)	Nature of the transaction	Exercise of Bonus Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 55.8p 475,000
d)	Aggregated information -  Aggregated volume -  Price	n/a Single Transaction
e)	Date of the transaction	29 October 2020
f)	Place of the transaction	Off Market

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Jacobus Johannes Prinsloo
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	Sylvania Platinum Limited
b)	LEI	2138005DSKINAZ4OA492
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 code	Ordinary Shares of USD 0.01 each BMG864081044
b)	Nature of the transaction	Sale of exercised Bonus Shares to satisfy the tax liability
c)	Price(s) and volume(s)	Price(s) Volume(s) 55.8p 213,750
d)	Aggregated information -  Aggregated volume -  Price	n/a Single Transaction
e)	Date of the transaction	29 October 2020
f)	Place of the transaction	Off Market

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Lewanne Carminati
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	Sylvania Platinum Limited
b)	LEI	2138005DSKINAZ4OA492
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 code	Ordinary Shares of USD 0.01 each BMG864081044
b)	Nature of the transaction	Exercise of Bonus Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 55.8p 440,000
d)	Aggregated information -  Aggregated volume -  Price	n/a Single Transaction
e)	Date of the transaction	29 October 2020
f)	Place of the transaction	Off Market

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Lewanne Carminati
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	Sylvania Platinum Limited
b)	LEI	2138005DSKINAZ4OA492
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 code	Ordinary Shares of USD 0.01 each BMG864081044
b)	Nature of the transaction	Sale of exercised Bonus Shares to satisfy the tax liability
c)	Price(s) and volume(s)	Price(s) Volume(s) 55.8p 198,000
d)	Aggregated information -  Aggregated volume -  Price	n/a Single Transaction
e)	Date of the transaction	29 October 2020
f)	Place of the transaction	Off Market

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Albertus Jacobus Johannes Jordaan
2	Reason for the notification
a)	Position/status	Executive Officer: New Business
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Sylvania Platinum Limited
b)	LEI	2138005DSKINAZ4OA492
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 code	Ordinary Shares of USD 0.01 each BMG864081044
b)	Nature of the transaction	Exercise of Bonus Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 55.8p 430,000
d)	Aggregated information -  Aggregated volume -  Price	n/a Single Transaction
e)	Date of the transaction	29 October 2020
f)	Place of the transaction	Off Market

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Albertus Jacobus Johannes Jordaan
2	Reason for the notification
a)	Position/status	Executive Officer: New Business
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Sylvania Platinum Limited
b)	LEI	2138005DSKINAZ4OA492
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 code	Ordinary Shares of USD 0.01 each BMG864081044
b)	Nature of the transaction	Sale of exercised Bonus Shares to satisfy the tax liability
c)	Price(s) and volume(s)	Price(s) Volume(s) 55.8p 193,500
d)	Aggregated information -  Aggregated volume -  Price	n/a Single Transaction
e)	Date of the transaction	29 October 2020
f)	Place of the transaction	Off Market

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Albertus Jacobus Johannes Jordaan
2	Reason for the notification
a)	Position/status	Executive Officer: New Business
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Sylvania Platinum Limited
b)	LEI	2138005DSKINAZ4OA492
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 code	Ordinary Shares of USD 0.01 each BMG864081044
b)	Nature of the transaction	Sale of exercised Bonus Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 63.9072p 50,000
d)	Aggregated information -  Aggregated volume -  Price	n/a Single Transaction
e)	Date of the transaction	29 October 2020
f)	Place of the transaction	Off Market

 

END

 

 

DSHEAXEEDESEFEA