logo-loader
viewSalt Lake Potash Ltd

Salt Lake Potash Ltd - Completion of Placement and Directors Subscription

RNS Number : 3168C
Salt Lake Potash Limited
07 February 2020
 

7 February 2020

AIM/ASX Code: SO4

 

 

SALT LAKE POTASH LIMITED

COMPLETION OF PLACEMENT AND DIRECTORS' SUBSCRIPTION

Salt Lake Potash Limited ("the Company") is pleased to announce that it has now completed the placement of 33.6 million new ordinary shares of the Company, to raise gross proceeds of A$23.5 million ("Placement"), first announced on 6 December 2020.  

The second tranche of the Placement has been completed following shareholder approval at a General Meeting held on 29 January 2020. The issue comprised 678,571 ordinary shares of no par value at a price of A$0.70 per share, including 428,571 shares subscribed for by the CEO, Mr Tony Swiericzuk, and 250,000 shares by the Company's Chairman, Mr Ian Middlemas.

The Company has also issued 1 share to each holder (a total of 4 shares) of the 7,500,000 Class B Performance Shares that expired 31 December 2019, in accordance with the terms and conditions of the Performance Shares.

Application has been made to the AIM Market of the London Stock Exchange ("AIM") for the admission of the 678,575 Ordinary Shares, which rank pari passu with the Company's existing issued Ordinary Shares, to be admitted to trading. Dealings on AIM are expected to commence at 8:00am on or around 12 February 2020 ("Admission").

Total Voting Rights

For the purposes of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules ("DTRs"), following Admission, Salt Lake will have 290,289,806 Ordinary Shares in issue with voting rights attached. Salt Lake holds no shares in treasury. This figure of 290,289,806 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.

Directors' interests

Following the issue of these shares, the directors will have the following interests in shares:

 

Number of shares

Percentage of issued share capital

Ian Middlemas

12,000,000

4.13%

Tony Swiericzuk

1,647,210

0.57%

Mr Swiericzuk also holds an indirect interest in 5 million incentive options and 7,288,324 performance rights.

The Notifications below, made in accordance with the requirements of the EU Market Abuse Regulation provide additional information.

 

For further information please visit www.so4.com.au or contact:

 

Tony Swierizcuk / Richard Knights

Salt Lake Potash Limited

Tel: +61 8 6559 5800

Colin Aaronson / Richard Tonthat / Seamus Fricker

Grant Thornton UK LLP (Nominated Adviser)

Tel: +44 (0) 20 7383 5100

Derrick Lee / Peter Lynch

Cenkos Securities plc (Joint Broker)

Tel: +44 (0) 131 220 6939

Rupert Fane / Ernest Bell

Hannam & Partners (Joint Broker)

Tel: +44 (0) 20 7907 8500

 

 

Notification of Transactions of Persons Discharging Managerial Responsibility and Persons Closely Associated with them

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Tony Swiericzuk

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Chief Executive Officer

b)

 

Initial notification /Amendment

 

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

Salt Lake Potash Limited

b)

 

LEI

 

 

213800WAVVOPS85N2205

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

Ordinary shares of  no par value



Identification code

AU000000SO44



b)

 

Nature of the transaction

 

 

Subscription for cash in a placement by the Company

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




A$0.70

678,571







d)

 

Aggregated information




- Aggregated volume

Aggregate volume: 428,571

Aggregate price: 70 Australian cents

Aggregate total: A$300,000



- Price







e)

 

Date of the transaction

 

 

7 February 2020

f)

 

Place of the transaction

 

 

Off market transaction

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Ian Middlemas

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Chairman

b)

 

Initial notification /Amendment

 

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

Salt Lake Potash Limited

b)

 

LEI

 

 

213800WAVVOPS85N2205

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

Ordinary shares of  no par value



Identification code

AU000000SO44



b)

 

Nature of the transaction

 

 

Subscription for cash in a placement by the Company

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




A$0.70

250,000







d)

 

Aggregated information




- Aggregated volume

Aggregate volume: 250,000

Aggregate price: 70 Australian cents

Aggregate total: A$175,000



- Price







e)

 

Date of the transaction

 

 

7 February 2020

f)

 

Place of the transaction

 

 

Off market transaction

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
MSCTRMRTMTJMMAM

Quick facts: Salt Lake Potash Ltd

Price: 29.5

Market: AIM
Market Cap: £104.22 m
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Salt Lake Potash CEO and chairman get go-ahead to take part in A$20 million...

Salt Lake Potash Ltd (LON:SO4)(ASX:SO4) chief executive officer Tony Swiericzuk caught up with Proactive's Andrew Scott after confirmation he and chairman Ian Middlemas got shareholder approval to take part in the company's A$20 million placement. Earlier this month the company awarded EPC and...

2 weeks ago