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| Date | 23 Dec 2021 |
| Time | 07:00:07 |
| Category | Capital structure |
| ID | 6056W |
SOVEREIGN METALS LIMITED
NEWS RELEASE I 23 DECEMBER 2021
ISSUE OF SHARES ON EXERCISE OF UNLISTED OPTIONS AND PERFORMANCE RIGHTS
Sovereign Metals Limited (Sovereign or the Company) (ASX:SVM, AIM:SVML) advises that it has issued 5,085,000 fully paid ordinary shares (Shares) upon the exercise of 500,000 A$0.50 unlisted options and conversion of 4,585,000 scoping study performance rights held by certain directors, employees and consultants of the Company pursuant to its shareholder approved Employee Equity Incentive Plan for nil consideration.
Application will be made for the Shares to be admitted to trading on AIM (Admission) and it is expected that Admission will become effective on or around 12 January 2022.
Total Voting Rights
For the purposes of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules (DTRs), following Admission of the Shares, Sovereign will have 432,433,755 Ordinary Shares in issue with voting rights attached. For clarity, this figure includes the Placing Shares (see, and as defined in, the RNS dated of 22 December 2021). The figure of 432,433,755 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the ASX Listing Rules or the DTRs.
Shares on conversion of the performance rights have been issued to Directors of the Company as detailed below:
ENQUIRIES
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Dr Julian Stephens (Perth) +61(8) 9322 6322 |
Sam Cordin (Perth) |
Sapan Ghai (London)
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Nominated Adviser on AIM |
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RFC Ambrian |
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Bhavesh Patel / Andrew Thomson |
+44 20 3440 6800 |
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Broker |
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Optiva Securities |
+44 20 3137 1902 |
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Daniel Ingrams |
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Mariela Jaho |
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Christian Dennis |
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Rule 3.19A.2
Appendix 3Y
Change of Director's Interest Notice
Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.
Introduced 30/09/01 Amended 01/01/11
|
Name of entity SOVEREIGN METALS LIMITED |
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ABN 71 120 833 427 |
We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.
|
Name of Director |
Benjamin Stoikovich |
|
Date of last notice |
11 June 2021 |
Part 1 - Change of director's relevant interests in securities
In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust
Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.
|
Direct or indirect interest |
Direct and Indirect
|
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Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
|
Selwyn Capital Limited (beneficial interest)
|
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Date of change |
23 December 2021 |
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No. of securities held prior to change |
(a) 2,150,000 (b) 1,500,000 (c) 360,000 (d) 360,000 (e) 480,000 |
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Class |
(a) Ordinary Fully Paid Shares (b) $0.14 Incentive Options, expiring 30 June 2022 (c) Unlisted Performance Rights subject to the "Scoping Study Milestone" expiring 31 December 2021 (d) Unlisted Performance Rights subject to the "Feasibility Study Milestone" expiring 31 December 2023 (e) Unlisted Performance Rights subject to the "Decision to Mine Milestone" expiring 31 October 2025 |
|
Number acquired |
(a) 360,000 |
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Number disposed |
(c) (360,000) |
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Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation
|
Not applicable |
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No. of securities held after change |
(a) 2,510,000 (b) 1,500,000 (c) Nil (d) 360,000 (e) 480,000 |
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Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back |
Conversion of Performance Rights upon satisfaction of the Scoping Study milestone pursuant to the Company approved Employee Equity Incentive Plan |
Part 2 - Change of director's interests in contracts
Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.
|
Detail of contract |
Not applicable |
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Nature of interest
|
Not applicable |
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Name of registered holder (if issued securities)
|
Not applicable |
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Date of change |
Not applicable |
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No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
|
Not applicable |
|
Interest acquired |
Not applicable |
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Interest disposed |
Not applicable |
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Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
|
Not applicable |
|
Interest after change |
Not applicable |
Part 3 - +Closed period
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Were the interests in the securities or contracts detailed above traded during a +closed period where prior written clearance was required? |
No |
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If so, was prior written clearance provided to allow the trade to proceed during this period? |
Not applicable |
|
If prior written clearance was provided, on what date was this provided? |
Not applicable |
|
Initial notification/Amendment |
Initial |
|
LEI |
213800NSPXSASTENFQ34 |
|
Place of transaction |
Australian Securities Exchange (ASX) |
Appendix 3Y
Change of Director's Interest Notice
Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.
Introduced 30/09/01 Amended 01/01/11
|
Name of entity SOVEREIGN METALS LIMITED |
|
ABN 71 120 833 427 |
We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.
|
Name of Director |
Julian Stephens |
|
Date of last notice |
21 June 2021 |
Part 1 - Change of director's relevant interests in securities
In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust
Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.
|
Direct or indirect interest |
Indirect
|
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Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
|
One Way Trust (beneficial interest)
|
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Date of change |
23 December 2021 |
|
No. of securities held prior to change |
(f) 13,317,518 (g) 2,000,000 (h) 900,000 (i) 900,000 (j) 1,200,000 |
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Class |
(f) Ordinary Fully Paid Shares (g) $0.14 Incentive Options, expiring 30 June 2022 (h) Unlisted Performance Rights subject to the "Scoping Study Milestone" expiring 31 December 2021 (i) Unlisted Performance Rights subject to the "Feasibility Study Milestone" expiring 31 December 2023 (j) Unlisted Performance Rights subject to the "Decision to Mine Milestone" expiring 31 October 2025 |
|
Number acquired |
(b) 900,000 |
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Number disposed |
(c) (900,000) |
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Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation
|
Not applicable |
|
No. of securities held after change |
(f) 14,217,518 (g) 2,000,000 (h) Nil (i) 900,000 (j) 1,200,000 |
|
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back |
Conversion of Performance Rights upon satisfaction of the Scoping Study milestone pursuant to the Company approved Employee Equity Incentive Plan |
Part 2 - Change of director's interests in contracts
Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.
|
Detail of contract |
Not applicable |
|
Nature of interest
|
Not applicable |
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Name of registered holder (if issued securities)
|
Not applicable |
|
Date of change |
Not applicable |
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No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
|
Not applicable |
|
Interest acquired |
Not applicable |
|
Interest disposed |
Not applicable |
|
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
|
Not applicable |
|
Interest after change |
Not applicable |
Part 3 - +Closed period
|
Were the interests in the securities or contracts detailed above traded during a +closed period where prior written clearance was required? |
No |
|
If so, was prior written clearance provided to allow the trade to proceed during this period? |
Not applicable |
|
If prior written clearance was provided, on what date was this provided? |
Not applicable |
|
Initial notification/Amendment |
Initial |
|
LEI |
213800NSPXSASTENFQ34 |
|
Place of transaction |
Australian Securities Exchange (ASX) |
Rule 3.19A.2
Appendix 3Y
Change of Director's Interest Notice
Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.
Introduced 30/09/01 Amended 01/01/11
|
Name of entity SOVEREIGN METALS LIMITED |
|
ABN 71 120 833 427 |
We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.
|
Name of Director |
Mark Pearce |
|
Date of last notice |
25 November 2021 |
Part 1 - Change of director's relevant interests in securities
In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust
Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.
|
Direct or indirect interest |
Direct and Indirect
|
|
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
|
· Mr Mark Pearce and Mrs Natasha Pearce <NMLP Family A/C> (trustee and beneficial interest) · Apollo Group Pty Ltd (director and indirect shareholder) · Crystal Brook Investments Pty Ltd (director and beneficial interest)
|
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Date of change |
23 December 2021 |
|
No. of securities held prior to change |
(a) 4,070,842 (b) 225,000 (c) 225,000 (d) 300,000 |
|
Class |
(a) Ordinary Fully Paid Shares (b) Unlisted Performance Rights subject to the "Scoping Study Milestone" expiring 31 December 2021 (c) Unlisted Performance Rights subject to the "Feasibility Study Milestone" expiring 31 December 2023 (d) Unlisted Performance Rights subject to the "Decision to Mine Milestone" expiring 31 October 2025
|
|
Number acquired |
(a) 225,000 |
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Number disposed |
(b) (225,000) |
|
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation
|
Not applicable
|
|
No. of securities held after change |
(a) 4,295,842 (b) Nil (c) 225,000 (d) 300,000 |
|
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back |
Conversion of Performance Rights upon satisfaction of the Scoping Study milestone |
Part 2 - Change of director's interests in contracts
Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.
|
Detail of contract |
Not applicable |
|
Nature of interest |
Not applicable |
|
Name of registered holder (if issued securities) |
Not applicable |
|
Date of change |
Not applicable |
|
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
|
Not applicable |
|
Interest acquired |
Not applicable |
|
Interest disposed |
Not applicable |
|
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
|
Not applicable |
|
Interest after change |
Not applicable |
Part 3 - +Closed period
|
Were the interests in the securities or contracts detailed above traded during a +closed period where prior written clearance was required? |
No |
|
If so, was prior written clearance provided to allow the trade to proceed during this period? |
Not applicable |
|
If prior written clearance was provided, on what date was this provided? |
Not applicable |
|
Initial notification/Amendment |
Initial |
|
LEI |
213800NSPXSASTENFQ34 |
|
Place of transaction |
Australian Securities Exchange (ASX) |