Exercise of vested bonus shares

Sylvania Platinum Limited

17 November 2023

 

                             _____________________________________________________________________________________________________________________________

17 November 2023

Sylvania Platinum Limited

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

Exercise of Vested Bonus Shares

 

 

Sylvania (AIM: SLP) today announces that on 16 November 2023 certain Directors, senior management and employees have, following the vesting of deferred share awards granted to them in August 2020 under the Sylvania Platinum Limited Bonus Share Award Plan ("the Plan"), exercised their rights over a total of 1,235,000 Ordinary Shares in the capital of the Company. This has been satisfied by issuing Ordinary Shares held in Treasury.

448,150 of the Ordinary Shares were immediately repurchased by the Company at the vesting price of 70.0 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 236,600 Ordinary Shares have been repurchased by the Company at the 30-day VWAP of 76.5 pence, calculated at the close of business on 15 November 2023.   

All of the 684,750 Ordinary Shares repurchased by the Company are being held in Treasury.

Of the total 1,235,000 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	140,000	63,000	70.0p	-	-	77,000	1,540,144	0.59%
Lewanne Carminati	130,000	58,500	70.0p	-	-	71,500	1,398,336	0.53%

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			95,000	20,000	70.0p	-	-	75,000	334,000	0.13%
Robbie van der Schyff			60,000	27,000	70.0p	-	-	33,000	33,000	0.01%

Following the above transaction, the Company's issued share capital amounts to 275,375,725 Ordinary Shares of which a total of 13,000,211 Ordinary Shares are held in Treasury. Therefore, the total number of Ordinary Shares with voting rights in Sylvania 262,375,514 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
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 (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. Additionally, the Thaba JV comprises chrome beneficiation and PGM processing plants, treating a combination of 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 Bushveld Complex.

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) 70.0p 140,000
d)	Aggregated information -      Aggregated volume -      Price	n/a Single Transaction
e)	Date of the transaction	16 November 2023
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) 70.0p 63,000
d)	Aggregated information -      Aggregated volume -      Price	n/a Single Transaction
e)	Date of the transaction	16 November 2023
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) 70.0p 130,000
d)	Aggregated information -      Aggregated volume -      Price	n/a Single Transaction
e)	Date of the transaction	16 November 2023
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) 70.0p 58,500
d)	Aggregated information -      Aggregated volume -      Price	n/a Single Transaction
e)	Date of the transaction	16 November 2023
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) 70.0p 95,000
d)	Aggregated information -      Aggregated volume -      Price	n/a Single Transaction
e)	Date of the transaction	16 November 2023
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) 70.0p 20,000
d)	Aggregated information -      Aggregated volume -      Price	n/a Single Transaction
e)	Date of the transaction	16 November 2023
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 Bonus Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 70.0p 60,000
d)	Aggregated information -      Aggregated volume -      Price	n/a Single Transaction
e)	Date of the transaction	16 November 2023
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 Bonus Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 70.0p 27,000
d)	Aggregated information -      Aggregated volume -      Price	n/a Single Transaction
e)	Date of the transaction	16 November 2023
f)	Place of the transaction	Off Market

 

END