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Sovereign Metals Limited issued 9,022,500 fully paid ordinary shares on 17 April 2026 upon the conversion of 9,022,500 unlisted performance rights for nil consideration. These shares were issued to certain directors, employees, and consultants following the satisfaction of the Bankable Definitive Feasibility Study Milestone. Following admission of these shares to AIM, expected on or around 22 April 2026, the company will have 655,961,203 ordinary shares in issue with voting rights.
| Date | 17 Apr 2026 |
| Time | 07:04:32 |
| Category | Capital structure |
| ID | 9163A |
NEWS RELEASE I 17 April 2026
Issue OF SHARES ON CONVERSION OF PERFORMANCE RIGHTS
Sovereign Metals Limited (ASX:SVM; AIM:SVML; OTCQX:SVMLF) (Sovereign or the Company) advises that it has issued 9,022,500 fully paid ordinary shares (Shares) upon the conversion of 9,022,500 unlisted performance rights upon satisfaction of the Bankable Definitive Feasibility Study Milestone held by certain directors, employees and consultants of the Company pursuant to its shareholder approved Employee Equity Incentive Plan for nil consideration. Change of Director's Interest Notices are provided below.
An 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 22 April 2026.
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 655,961,203 Ordinary Shares in issue with voting rights attached. The figure of 655,961,203 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.
Following the issue of the conversion of unlisted performance rights, the Company has the following securities on issue:
· 655,961,203 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 (expected to lapse unvested); 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 are 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 |
1 April 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.
|
Selwyn Capital Limited (beneficial interest)
|
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Date of change |
17 April 2026 |
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No. of securities held prior to change |
(a) 4,190,000 (b) 900,000 (c) 900,000 (d) 1,550,000 |
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Class |
(a) Ordinary Fully Paid Shares (b) Unlisted Performance Rights subject to the "Final Investment Decision Milestone" expiring 30 June 2026 (c) Unlisted Performance Rights subject to the "Bankable Definitive Feasibility Study Milestone", expiring 30 June 2026 (d) Unlisted Performance Rights subject to the "Construction and Finance Milestone", expiring 30 June 2028 |
|
Number acquired |
(a) 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 - see nature of change below |
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No. of securities held after change |
(a) 5,090,000 (b) 900,000 (c) - (d) 1,550,000 |
|
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 Bankable Definitive Feasibility 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 |
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 |
|
Date of last notice |
1 April 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 |
|
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
|
|
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Date of change |
17 April 2026 |
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No. of securities held prior to change |
(a) 500,000 (b) 1,100,000 (c) 1,500,000 (d) 2,000,000 |
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Class |
(a) Ordinary Fully Paid Shares (b) Unlisted Performance Rights subject to the "Final Investment Decision Milestone" expiring 30 June 2026 (c) Unlisted Performance Rights subject to the "Bankable Definitive Feasibility Study Milestone", expiring 30 June 2026 (d) Unlisted Performance Rights subject to the "Construction and Finance Milestone", expiring |
|
Number acquired |
(a) 1,500,000 |
|
Number disposed |
(c) (1,500,000) |
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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) 2,000,000 (b) 1,100,000 (c) - (d) 2,000,000 |
|
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 Bankable Definitive Feasibility 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 |
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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 |
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 |
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 |
Indirect
|
|
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 |
17 April 2026 |
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No. of securities held prior to change |
(a) 13,557,518 (b) 600,000 (c) 600,000
|
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Class |
(a) Ordinary Fully Paid Shares (b) Unlisted Performance Rights subject to the "Bankable Definitive Feasibility Study Milestone", expiring 30 June 2026 (c) Unlisted Performance Rights subject to the "Construction and Finance Milestone", expiring 30 June 2028 |
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Number acquired |
(a) 600,000
|
|
Number disposed |
(b) (600,000)
|
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Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation
|
Not applicable - see nature of change below |
|
No. of securities held after change |
(a) 14,157,518 (b) - (c) 600,000 |
|
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 Bankable Definitive Feasibility 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 |
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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 |
|
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 |
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 |
1 April 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.
|
· 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 director and beneficial interest) |
|
Date of change |
17 April 2026 |
|
No. of securities held prior to change |
(a) 4,161,151 (b) 400,000 (c) 300,000 (d) 650,000 |
|
Class |
(a) Ordinary Fully Paid Shares (b) Unlisted Performance Rights subject to the "Final Investment Decision Milestone" expiring 30 June 2026 (c) Unlisted Performance Rights subject to the "Bankable Definitive Feasibility Study Milestone", expiring 30 June 2026 (d) Unlisted Performance Rights subject to the "Construction and Finance Milestone", expiring 30 June 2028 |
|
Number acquired |
(a) 300,000
|
|
Number disposed |
(c) (300,000) |
|
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation
|
Not applicable - see nature of change below |
|
No. of securities held after change |
(a) 4,461,151 (b) 400,000 (c) - (d) 650,000 |
|
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 Bankable Definitive Feasibility 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 |
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 |
1 April 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) |
|
Date of change |
17 April 2026 |
|
No. of securities held prior to change |
(a) 225,000 (b) 150,000 (c) 300,000 (d) 250,000 |
|
Class |
(a) Ordinary Fully Paid Shares (b) Unlisted Performance Rights subject to the "Final Investment Decision Milestone" expiring 30 June 2026 (c) Unlisted Performance Rights subject to the "Bankable Definitive Feasibility Study Milestone", expiring 30 June 2026 (d) Unlisted Performance Rights subject to the "Construction and Finance Milestone", expiring |
|
Number acquired |
(a) 300,000 |
|
Number disposed |
(c) (300,000) |
|
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation
|
Not applicable - see nature of change below |
|
No. of securities held after change |
(a) 525,000 (b) 150,000 (c) - (d) 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 |
Conversion of Performance Rights upon satisfaction of the Bankable Definitive Feasibility 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 |
Outside a trading venue |