Exercise of Vested Bonus Shares

Sylvania Platinum Limited

27 September 2024

 

                        _____________________________________________________________________________________________________________________________

27 September 2024

Sylvania Platinum Limited

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

Exercise of Vested Bonus Shares

 

 

Sylvania (AIM: SLP), the platinum group metals ("PGM") producer and developer with assets in South Africa, today announces that certain Directors, senior management and employees have, following the vesting of deferred share awards granted to them in August 2021 under the Sylvania Platinum Limited Bonus Share Award Plan ("the Plan"), exercised their rights over a total of 455,358 Ordinary Shares in the capital of the Company. This has been satisfied by issuing Ordinary Shares held in Treasury.

153,168 of the Ordinary Shares were immediately repurchased by the Company at the vesting price of 50.00 pence, in order to satisfy the tax liabilities of the PDMRs and employees.

The Plan rules allow for employees to request the Company to buy back shares in addition to the tax portion twice a year at the 30-Day VWAP. A further 89,374 Ordinary Shares have been repurchased by the Company at the 30-day VWAP of 46.75 pence, calculated at the close of business on 25 September 2024.   

All of the 242,542 Ordinary Shares repurchased by the Company are being held in Treasury.

Of the total 455,358 Bonus Shares being exercised, the following relate to Directors and senior management of the Company:

Director	Bonus shares being exercised	Shares sold				Bonus shares retained	Total shares held after event	% of share capital (Shares with voting rights)
		Sales for tax and dealing costs	Price per share	Other share sales	Price per share
Jaco Prinsloo	55,000	24,750	50.0p	-	-	30,250	1,570,354	0.60%
Lewanne Carminati	43,000	19,350	50.0p	-	-	23,650	1,421,981	0.54%

PDMR			Bonus shares being exercised	Shares sold				Bonus Shares retained	Total shares held after event	% of share capital (Shares with voting rights)
				Sales for tax and dealing costs	Price per share	Other share sales	Price per share
Albert Jordaan			31,625	-	50.0p	-	-	31,625	365,625	0.14%
Robbie van der Schyff			27,652	12,443	50.0p	-	-	15,209	48,209	0.02%

Following the above transaction, the Company's issued share capital amounts to 273,366,725 Ordinary Shares of which a total of 11,552,395 Ordinary Shares are held in Treasury. Therefore, the total number of Ordinary Shares with voting rights in Sylvania 261,814,330 Ordinary Shares.

CONTACT DETAILS

For further information, please contact:
Jaco Prinsloo CEO Lewanne Carminati CFO	[phone]
Nominated Adviser and Broker
Panmure Liberum Limited	[phone]
Scott Mathieson / John More / Joshua Borlant
Communications
BlytheRay	[phone]
Tim Blythe / Megan Ray	[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

About Sylvania Platinum Limited

Sylvania Platinum is a lower-cost producer of platinum group metals ("PGMs") (platinum, palladium and rhodium) with operations located in South Africa. The Sylvania Dump Operations ("SDO") is comprised of six chrome beneficiation and PGM processing plants focusing on the retreatment of PGM-rich chrome tailings materials from mines in the Bushveld Igneous Complex ("BIC"). The SDO is the largest PGM producer from chrome tailings re-treatment in the industry. In FY2023, the Company entered into the Thaba Joint Venture ("Thaba JV") which comprises chrome beneficiation and PGM processing plants, and which will treat a combination of run of mine ("ROM") and historical chrome tailings from the JV partner, adding a full margin chromite concentrate revenue stream. The Group also holds mining rights for PGM projects in the Northern Limb of the BIC

For more information visit https://www.sylvaniaplatinum.com/

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 Share Awards
c)	Price(s) and volume(s)	Price(s) Volume(s) 50.0p 55,000
d)	Aggregated information -      Aggregated volume -      Price	n/a Single Transaction
e)	Date of the transaction	26 September 2024
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 Share Awards to satisfy the tax liability
c)	Price(s) and volume(s)	Price(s) Volume(s) 50.0p 24,750
d)	Aggregated information -      Aggregated volume -      Price	n/a Single Transaction
e)	Date of the transaction	26 September 2024
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 Share Awards
c)	Price(s) and volume(s)	Price(s) Volume(s) 50.0p 43,000
d)	Aggregated information -      Aggregated volume -      Price	n/a Single Transaction
e)	Date of the transaction	26 September 2024
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 Share Awards to satisfy the tax liability
c)	Price(s) and volume(s)	Price(s) Volume(s) 50.0p 19,350
d)	Aggregated information -      Aggregated volume -      Price	n/a Single Transaction
e)	Date of the transaction	26 September 2024
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 Share Awards
c)	Price(s) and volume(s)	Price(s) Volume(s) 50.0p 31,625
d)	Aggregated information -      Aggregated volume -      Price	n/a Single Transaction
e)	Date of the transaction	26 September 2024
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	Robert John van der Schyff
2	Reason for the notification
a)	Position/status	Executive Officer: Operations
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 Share Awards
c)	Price(s) and volume(s)	Price(s) Volume(s) 50.0p 27,652
d)	Aggregated information -      Aggregated volume -      Price	n/a Single Transaction
e)	Date of the transaction	26 September 2024
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	Robert John van der Schyff
2	Reason for the notification
a)	Position/status	Executive Officer: Operations
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 Share Awards to satisfy the tax liability
c)	Price(s) and volume(s)	Price(s) Volume(s) 50.0p 12,443
d)	Aggregated information -      Aggregated volume -      Price	n/a Single Transaction
e)	Date of the transaction	26 September 2024
f)	Place of the transaction	Off Market

 

END