TIDMSO4
RNS Number : 8975Z
Salt Lake Potash Limited
23 September 2020
23 September 2020 AIM/ASX Code: SO4
SALT LAKE POTASH LIMITED
SHAREHOLDER MEETING RESULTS
-----------------------------
Salt Lake Potash Limited ("the Company") advises that a General
Meeting of the Company was held today, 23 September 2020, at 2.00pm
(WST).
The resolutions voted on were in accordance with the Notice of
General Meeting as announced on 24 August 2020 and which is
available on the Company's website, www.so4.com.au. All resolutions
were voted on and carried by way of a poll.
In accordance with Section 251AA of the Corporations Act 2001,
the details of the poll and the proxies received in respect of each
resolution are set out in the following summary.
Resolution Result Voting Method Number of Proxy Votes Received Number and Percentage of Votes Cast
by Poll
For Against Abstain Proxy's Discretion For Against Abstain
------------ ---------- ----------- ------------------- ----------------- --------------------- ---------------------
1. Ratification of prior issue of Institutional Convertible Notes Carried Poll 114,466,685 4,941,297 60,968,059 87,680 141,700,577 4,941,297 60,968,059
96.63% 3.37%
--------------------------------------------------------------------------------------------------------- ------------ ---------- ----------- ------------------- ----------------- --------------------- ---------------------
2. Approval to issue Shares on conversion of Equatorial Convertible Notes Carried Poll 170,644,612 5,044,279 4,686,250 87,680 197,878,504 5,044,279 4,686,250
97.51% 2.49%
--------------------------------------------------------------------------------------------------------- ------------ ---------- ----------- ------------------- ----------------- --------------------- ---------------------
3a. Ratification of Prior Placement of Shares - Listing Rule 7.1 Carried Poll 117,166,382 4,941,297 55,038,458 87,680 144,400,274 4,941,297 55,038,458
96.69% 3.31%
--------------------------------------------------------------------------------------------------------- ------------ ---------- ----------- ------------------- ----------------- --------------------- ---------------------
3b. Ratification of Prior Placement of Shares - Listing Rule 7.1A Carried Poll 117,166,382 4,941,297 55,038,458 87,680 144,400,274 4,941,297 55,038,458
96.69% 3.31%
--------------------------------------------------------------------------------------------------------- ------------ ---------- ----------- ------------------- ----------------- --------------------- ---------------------
4. Approval to issue Taurus Options Carried Poll 173,011,729 6,899,681 464,631 87,680 200,245,621 6,899,681 464,631
96.67% 3.33%
--------------------------------------------------------------------------------------------------------- ------------ ---------- ----------- ------------------- ----------------- --------------------- ---------------------
5. Approval to issue Consultancy Shares Carried Poll 169,338,546 5,029,045 5,071,342 87,680 196,222,438 5,029,045 5,071,342
97.50% 2.50%
--------------------------------------------------------------------------------------------------------- ------------ ---------- ----------- ------------------- ----------------- --------------------- ---------------------
Corporate Presentation
A new presentation giving a virtual tour of the Lake Way project
is also now available to view on the Company's
website: www.so4.com.au
Exercise of Convertible Notes
Following approval of Resolution 2 above, the Company will issue
22,222,223 fully paid new ordinary shares of no par value (Ordinary
Shares) at a conversion price of A$0.45 per Ordinary Share on
conversion of the convertible notes issued to Equatorial Resources
as announced by the Company on 2 July 2020.
Consultancy Shares
Following approval of Resolution 5 above, the Company will issue
370,000 fully paid new Ordinary Shares (Consultancy Shares) to Mr
Matthew Bungey, a director of the Company, at a price of A$0.50 per
Ordinary Share as announced by the Company on 14 August 2020.
Settlement and Dealings
Application has been made to the AIM Market of London Stock
Exchange Plc (AIM) for the admission of the 22,592,223 new Ordinary
Shares being issued on exercise of the Convertible Notes and on
issue of the Consultancy 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 25 September 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 584,063,699 Ordinary Shares in issue with voting
rights attached. Salt Lake does not hold any shares in treasury.
This figure of 584,063,699 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.
For further information please visit www.so4.com.au or
contact:
Tony Swierizcuk / Richard Salt Lake Potash Limited Tel: +61 8 6559 5800
Knights
Colin Aaronson / Richard Grant Thornton UK LLP Tel: +44 (0) 20 7383 5100
Tonthat / Seamus Fricker (Nominated Adviser)
Derrick Lee / Peter Lynch Cenkos Securities plc Tel: +44 (0) 131 220 6939
(Joint Broker)
Rupert Fane / Ernest Bell Hannam & Partners (Joint Broker) Tel: +44 (0) 20 7907 8500
This announcement has been authorised for release by the Company
Secretary.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
Not for release to US wire services or distribution in the
United States.
This announcement has been prepared for publication in Australia
and may not be released to US wire services or distributed in the
United States. This announcement does not constitute an offer to
sell, or a solicitation of an offer to buy, securities in the
United States or any other jurisdiction. Any securities described
in this announcement have not been, and will not be, registered
under the US Securities Act of 1933 and may not be offered or sold
in the United States except in transactions exempt from, or not
subject to, the registration requirements of the US Securities Act
and applicable US state securities laws.
Forward Looking Statements
This announcement may include forward-looking statements. These
forward-looking statements are based on Salt Lake Potash Limited's
expectations and beliefs concerning future events. Forward looking
statements are necessarily subject to risks, uncertainties and
other factors, many of which are outside the control of Salt Lake
Potash Limited, which could cause actual results to differ
materially from such statements. Salt Lake Potash Limited makes no
undertaking to subsequently update or revise the forward-looking
statements made in this announcement, to reflect the circumstances
or events after the date of that announcement.
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END
RAGLJMBTMTTTBFM
(END) Dow Jones Newswires
September 23, 2020 07:29 ET (11:29 GMT)
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