Exercise of Vested Shares and Buyback

RNS Number : 3115B

Sylvania Platinum Limited

30 September 2022

 

                             _____________________________________________________________________________________________________________________________

30 September 2022

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, following the vesting of deferred share awards, granted to them in August 2019 under the Sylvania Platinum Limited Deferred Share Award Scheme, exercised their rights over a total of 1,755,000 Ordinary Shares in the capital of the Company. This has been satisfied by issuing Ordinary Shares held in Treasury.

702,300 of the Ordinary Shares were immediately repurchased by the Company at the vesting price of 96.5 pence, in order to satisfy the tax liabilities of the PDMRs and employees.

A further 382,700 Ordinary Shares have been repurchased by the Company at the 30-day VWAP of 90.91 pence, calculated at the close of business on 29 September 2022. These Ordinary Shares were repurchased at the request of certain employees under the terms of the Deferred Share Award Rules.  

All of the 1,085,000 Ordinary Shares repurchased by the Company are being held in Treasury.

Of the total 1,755,000 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	Price per share	Other share sales	Price per share
Jaco Prinsloo	165,000	74,250	96.5p	-	-	90,750	1,463,144	0.55%
Lewanne Carminati	150,000	67,500	96.5p	-	-	82,500	1,326,831	0.50%

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			150,000	67,500	96.5p	10,000	90.91p	72,500	259,000	0.10%

Following the above transaction, the Company's issued share capital amounts to 280,155,657 Ordinary Shares of which a total of 13,354,869 Ordinary Shares are held in Treasury. Therefore, the total number of Ordinary Shares with voting rights in Sylvania 266,800,788 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 / Kane Collings
Communications
Alma PR Limited	[phone]
Justine James / Josh Royston / Matthew Young	[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 (PGM) (platinum, palladium and rhodium) with operations located in South Africa. The Sylvania Dump Operations (SDO) comprises six chrome beneficiation and PGM processing plants focusing on the retreatment of PGM-rich chrome tailings materials from mines in the Bushveld Igneous Complex. The SDO is the largest PGM producer from chrome tailings re-treatment in the industry. The Group also holds mining rights for PGM projects in the Northern Limb of the Bushveld Complex.

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

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse regulation (EU) no.596/2014 as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019.

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 Share Awards
c)	Price(s) and volume(s)	Price(s) Volume(s) 96.5p 165,000
d)	Aggregated information -     Aggregated volume -     Price	n/a Single Transaction
e)	Date of the transaction	29 September 2022
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) 96.5p 74,250
d)	Aggregated information -     Aggregated volume -     Price	n/a Single Transaction
e)	Date of the transaction	29 September 2022
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) 96.5p 150,000
d)	Aggregated information -     Aggregated volume -     Price	n/a Single Transaction
e)	Date of the transaction	29 September 2022
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) 96.5p 67,500
d)	Aggregated information -     Aggregated volume -     Price	n/a Single Transaction
e)	Date of the transaction	29 September 2022
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) 96.5p 150,000
d)	Aggregated information -     Aggregated volume -     Price	n/a Single Transaction
e)	Date of the transaction	29 September 2022
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 Share Awards to satisfy the tax liability
c)	Price(s) and volume(s)	Price(s) Volume(s) 96.5p 67,500
d)	Aggregated information -     Aggregated volume -     Price	n/a Single Transaction
e)	Date of the transaction	29 September 2022
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) 90.91p 10,000
d)	Aggregated information -     Aggregated volume -     Price	n/a Single Transaction
e)	Date of the transaction	29 September 2022
f)	Place of the transaction	Off Market

 

END

 

 

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