Exercise of Vested Bonus Shares

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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:

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

CORPORATE INFORMATION

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

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

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

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

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

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

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