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Sovereign Metals Limited announced the lapse of 4,992,500 unlisted performance rights, subject to a "Mining Licence Milestone," on 31 March 2026 without exercise or conversion. Directors Benjamin Stoikovich, Francis Eagar, Mark Pearce, and Nigel Jones had 650,000, 800,000, 250,000, and 100,000 of these rights, respectively, lapse. Following this, the company has 646,938,703 fully paid ordinary shares and 28,475,000 other unlisted performance rights on issue across three milestones expiring between June 2026 and June 2028.
| Date | 1 Apr 2026 |
| Time | 07:00:08 |
| Category | Director/PDMR dealings |
| ID | 0235Z |
NEWS RELEASE I 1 APRIL 2026
LAPSE OF PERFORMANCE RIGHTS
Sovereign Metals Limited (ASX:SVM; AIM:SVML; OTCQX:SVMLF) (Sovereign or the Company) advises that 4,992,500 unlisted performance rights that were subject to the "Mining Licence Milestone" lapsed on 31 March 2026 without exercise or conversion.
Following the lapse of these unlisted performance rights, the Company has the following securities on issue:
· 646,938,703 fully paid ordinary shares (of no par value);
· 6,190,000 unlisted performance rights subject to the "Final Investment Decision Milestone" expiring on or before 30 June 2026.
· 9,022,500 unlisted performance rights subject to the "Bankable Definitive Feasibility Study Milestone" expiring on or before 30 June 2026; and
· 13,262,500 performance rights subject to the "Construction and Finance Milestone" that have no exercise price and expire 30 June 2028.
Change of Directors' Interest Notices in relation to the lapse of unlisted performance rights have been provided below.
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Enquiries |
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Dylan Browne Company Secretary +61 8 9322 6322 |
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Nominated Adviser on AIM and Joint Broker |
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SP Angel Corporate Finance LLP |
+44 20 3470 0470 |
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Ewan Leggat Charlie Bouverat |
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Joint Broker |
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Stifel |
+44 20 7710 7600 |
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Varun Talwar |
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Ashton Clanfield |
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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 |
18 February 2026 |
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.
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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 |
31 March 2026 |
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No. of securities held prior to change |
(a) 4,190,000 (b) 650,000 (c) 900,000 (d) 900,000 (e) 1,550,000 |
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Class |
(a) Ordinary Fully Paid Shares (b) Unlisted Performance Rights subject to the "Grant of Mining Licence Milestone" expiring 31 March 2026 (c) Unlisted Performance Rights subject to the "Final Investment Decision Milestone" expiring 30 June 2026 (d) Unlisted Performance Rights subject to the "Bankable Definitive Feasibility Study Milestone", expiring 30 June 2026 (e) Unlisted Performance Rights subject to the "Construction and Finance Milestone", expiring 30 June 2028 |
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Number acquired |
Nil |
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Number disposed |
(b) (650,000) |
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Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation
|
Not applicable - see nature of change below |
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No. of securities held after change |
(a) 4,190,000 (b) - (c) 900,000 (d) 900,000 (e) 1,550,000 (f) |
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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 |
Expiry of Performance Rights without exercise or conversion |
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)
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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 |
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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 |
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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 |
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If prior written clearance was provided, on what date was this provided? |
Not applicable |
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Initial notification/Amendment |
Initial |
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LEI |
213800NSPXSASTENFQ34 |
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Place of transaction |
Outside a trading venue |
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.
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Name of Director |
Francis (Frank) Eagar |
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Date of last notice |
18 February 2026 |
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 |
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Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
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|
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Date of change |
31 March 2026 |
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No. of securities held prior to change |
(a) 500,000 (b) 800,000 (c) 1,100,000 (d) 1,500,000 (e) 2,000,000 |
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Class |
(a) Ordinary Fully Paid Shares (b) Unlisted Performance Rights subject to the "Grant of Mining Licence Milestone" expiring 31 March 2026 (c) Unlisted Performance Rights subject to the "Final Investment Decision Milestone" expiring 30 June 2026 (d) Unlisted Performance Rights subject to the "Bankable Definitive Feasibility Study Milestone", expiring 30 June 2026 (e) Unlisted Performance Rights subject to the "Construction and Finance Milestone", expiring 30 June 2028 |
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Number acquired |
Nil |
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Number disposed |
(b) (800,000) |
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Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation
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Not applicable - see nature of change below |
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No. of securities held after change |
(a) 500,000 (b) - (c) 1,100,000 (d) 1,500,000 (e) 2,000,000 |
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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 |
Expiry of Performance Rights without exercise or conversion |
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
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Not applicable |
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Name of registered holder (if issued securities)
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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
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Not applicable |
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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
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Not applicable |
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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 |
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If prior written clearance was provided, on what date was this provided? |
Not applicable |
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Initial notification/Amendment |
Initial |
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LEI |
213800NSPXSASTENFQ34 |
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Place of transaction |
Outside a trading venue |
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 |
18 February 2026 |
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.
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· 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) · Roseberry Holdings Pty Ltd |
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Date of change |
31 March 2026 |
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No. of securities held prior to change |
(a) 4,161,151 (b) 250,000 (c) 400,000 (d) 300,000 (e) 650,000 |
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Class |
(a) Ordinary Fully Paid Shares (b) Unlisted Performance Rights subject to the Grant of Mining Licence Milestone" expiring 31 March 2026 (c) Unlisted Performance Rights subject to the "Final Investment Decision Milestone" expiring 30 June 2026 (d) Unlisted Performance Rights subject to the "Bankable Definitive Feasibility Study Milestone", expiring 30 June 2026 (e) Unlisted Performance Rights subject to the "Construction and Finance Milestone", expiring 30 June 2028 |
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Number acquired |
Nil
|
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Number disposed |
(b) (250,000)
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Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation
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Not applicable - see nature of change below |
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No. of securities held after change |
(a) 4,161,151 (b) - (c) 400,000 (d) 300,000 (e) 650,000 |
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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 |
Expiry of Performance Rights without exercise or conversion |
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)
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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 |
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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
|
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 |
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If prior written clearance was provided, on what date was this provided? |
Not applicable |
|
Initial notification/Amendment |
Initial |
|
LEI |
213800NSPXSASTENFQ34 |
|
Place of transaction |
Outside a trading venue |
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 |
Nigel Jones |
|
Date of last notice |
18 February 2026 |
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.
|
Redbeck Partners Ltd (beneficial interest) |
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Date of change |
31 March 2026 |
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No. of securities held prior to change |
(a) 225,000 (b) 100,000 (c) 150,000 (d) 300,000 (e) 250,000 |
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Class |
(a) Ordinary Fully Paid Shares (b) Unlisted Performance Rights subject to the Grant of Mining Licence Milestone" expiring 31 March 2026 (c) Unlisted Performance Rights subject to the "Final Investment Decision Milestone" expiring 30 June 2026 (d) Unlisted Performance Rights subject to the "Bankable Definitive Feasibility Study Milestone", expiring 30 June 2026 (e) Unlisted Performance Rights subject to the "Construction and Finance Milestone", expiring 30 June 2028 |
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Number acquired |
Nil |
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Number disposed |
(b) (100,000) |
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Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation
|
Not applicable - see nature of change below |
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No. of securities held after change |
(a) 225,000 (b) - (c) 150,000 (d) 300,000 (e) 250,000 |
|
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back |
Expiry of Performance Rights without exercise or conversion |
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 |
Outside a trading venue |