Share Purchase

RNS Number : 1853O

Sylvania Platinum Limited

30 September 2019

 

                             _____________________________________________________________________________________________________________________________

Sylvania Platinum Limited

 ("Sylvania" or "the Company")

 AIM (SLP)

Share Buyback Update

30 September 2019

With reference to the Share Buyback Programme (the "Programme") announced on 23 September 2019, Sylvania announces that on 27 September 2019 it has acquired a total of 1,175,848 ordinary shares of USD0.01 each in the Company ('Ordinary Shares'), for transfer into Treasury, from employees of Sylvania's wholly owned South African subsidiaries.  No Directors of the Company participated in the Programme.

Under the terms of the Programme and under the terms and authority of the Company's Bye Laws, the Company repurchased these Ordinary Shares at a price of 41.68 pence per Ordinary Share representing the 30-Day value weighted average price ("VWAP") as at the close of day on 20 September 2019.

Of the 1,175,848 Ordinary Shares repurchased, 780,844 were held by persons discharging managerial responsibilities ("PDMR") as defined in the Market Abuse Regulations ("MAR"). 

PDMR	Price per share (GBP pence)	Shares sold	Shares retained	Total shares held after event	% of share capital (Shares with voting rights)
J Prinsloo	41.68	411,382	959,894	959,894	0.34
L Carminati	41.68	369,462	862,081	862,081	0.31

The Ordinary Shares acquired under the Programme will be used to fulfil the current shortfall in shares held in Treasury to cover the bonus share awards and options, which vest over the next five years.

Following the above transaction, the Company's issued share capital is 289,724,772 Ordinary Shares, of which a total of 8,385,483 Ordinary Shares are held in Treasury.  Therefore, the total number of Ordinary Shares with voting rights in Sylvania is 281,339,289 Ordinary Shares.

This announcement is released by Sylvania Platinum Limited and contains inside information for the purposes of Article 7 of the MAR (EU) 596/2014, 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 Terence McConnachie.

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

CONTACT DETAILS

For further information, please contact:
Terence McConnachie (Chief Executive Officer)	[phone]
Nominated Advisor and Broker
Liberum Capital Limited	[phone]
Richard Crawley / Ed Phillips
Communications
Alma PR Limited	[phone]
Josh Royston / Helena Bogle

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	Managing Director: Sylvania Metals
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 shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 41.68 441, 382
d)	Aggregated information -      Aggregated volume -      Price	n/a Single Transaction
e)	Date of the transaction	27 September 2019
f)	Place of the transaction	Off Market

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Lewanne Carminati
2	Reason for the notification
a)	Position/status	Executive Officer: Finance
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 shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 41.68 369,462
d)	Aggregated information -      Aggregated volume -      Price	n/a Single Transaction
e)	Date of the transaction	27 September 2019
f)	Place of the transaction	Off Market

 

END

 

 

DSHCKKDQBBKDFCN